Title 3140709 - PEM 2020W.pdf ✅

1 Seat No.: ________ Enrolment No.___________ GUJARAT TECHNOLOGICAL UNIVERSITY BE- SEMESTER–IV (NEW) EXAMINATION – WINTER 2020 Subject Code:3140709 Date:19/02/2021 Subject Name:Principles of Economics and Management Time:02:30 PM TO 04:30 PM Total Marks:56 Instructions: 1. Attempt any FOUR questions out of EIGHT questions. 2. Make suitable assumptions wherever necessary. 3. Figures to the right indicate full marks. MARKS Q.1 (a) Define Economics. Compare Microeconomics and Macroeconomics 03 (b) Write a detailed note on ‘Demand and supply Equilibrium’ with diagram. 04 (c) Explain the determinants of Elasticity of demand. 07 Q.2 (a) Define: 1. Opportunity Cost. 2. Sunk Cost. 3. Margin of Safety. 03 (b) Explain the exception to the law of demand. 04 (c) Explain importance on national income. And define following term GDP, GNP, NDP, NNP. 07 Q.3 (a) Define the term production and explain any two factors of production. 03 (b) Explain characteristics and function of money. 04 (c) Explain Law of variable proportion & law of return to scale. 07 Q.4 (a) Write about the various types of Banks. Explain in brief. 03 (b) Define: 1. Cash Reserve Ratio, 2. Statutory Liquidity ratio, 3. Repo rate 4. Reverse repo rate. 04 (c) Discuss principles of Scientific Management. 07 Q.5 (a) Define management. Compare management and administration 03 (b) Discuss the objectives of fiscal policy. 04 (c) What are the basic economic problems? Explain in details and suggest some remedies to overcome these problems. 07 Q.6 (a) Define: 1. Business Ethics. 2. Inflation. 3. Net Demand and time liabilities (NDTL). 03 (b) Explain various tools of Monetary Policy. 04 (c) Define CSR and discuss its due importance in industrial practice. 07