Tiêu đề 3140709 - PEM 2023S.pdf ✅

1 Seat No.: ________ Enrolment No.___________ GUJARAT TECHNOLOGICAL UNIVERSITY BE - SEMESTER– IV(NEW) EXAMINATION – SUMMER 2023 Subject Code:3140709 Date:19-07-2023 Subject Name:Principles of Economics and Management Time:10:30 AM TO 01:00 PM Total Marks:70 Instructions: 1. Attempt all questions. 2. Make suitable assumptions wherever necessary. 3. Figures to the right indicate full marks. 4. Simple and non-programmable scientific calculators are allowed. MARKS Q.1 (a) Draw the diagram for the flow of goods, services, resources and money payments in a simple economy. 03 (b) Give the definition and scope of economics in engineering. 04 (c) Explain the determinants of elasticity of demand in detail. 07 Q.2 (a) Describe objectives of fiscal policy. 03 (b) Explain functions of RBI in brief. 04 (c) XYZ IT Solution Ltd has the following details: Fixed cost = Rs. 20,00,000 Variable cost per unit = Rs. 100 Selling price per unit = Rs. 200 Find the following: (a) The break-even sales quantity, (b) The break-even sales (c) If the actual production quantity is 60,000, find contribution and Margin of Sales 07 OR (c) Consider the following data of a company for the year 2022: Sales = Rs. 1,20,000 Fixed cost = Rs. 25,000 Variable cost = Rs. 45,000 Find the following: (a) Contribution (b) Profit (c) Break Even Point (BEP) (d) Margin of Sales 07 Q.3 (a) Enlist causes of inflation. 03 (b) Describe absolute and relative poverty in brief. 04 (c) Explain various types of markets with their characteristics. 07 OR Q.3 (a) Write a brief note on personal income. 03 (b) Define following terms: GNP, GDP, NNP, NDP 04 (c) Define meaning of unemployment. Describe various types of unemployment with suitable example. 07 Q.4 (a) Explain nature of staffing in management. 03 (b) Describe importance of planning in management. 04