Microeconomics

Microeconomics

1. Explain with the help of examples, how the price of a product is determined in market.

Also, explain the change in equilibrium prices & quantity under following cases:

a. Increase in demand > increase in supply

b. Increase in demand < increase in supply

c. Increase in demand = increase in supply

2. What is elasticity of demand and supply? Explain in detail (with the help of examples) the

factors, which determines the elasticity of demand and supply.

Describe the Human Resource Planning process

State any 3 types of interviews with examples of the situation in which a particular type

of interview is used

What do you understand by Internationalization. Include in your response, the process,

challenges, barriers, advantages and disadvantages

How can a nation seek to attain competitive advantage. Explain with reference to context of

the Michael Porter Diamond Theory

The State Government granted license to Sweet sugar Ltd. to manufacture

and sell sugar with a stipulation that 40 % of the output should be sold to the

state government at a controlled price of Rs.3000 per ton and the balance output

can be sold in the open market at any price.

Following are the details of sweet sugar ltd. for the year ended 31st march 2004.

During the year 3600 tons sugar cane was consumed at Rs. 1000 per ton. Direct

labor amounted to Rs.825 per ton of sugar produced.

The details of other expenditure are as follows:

Particulars Rs.

Direct expenses 4,20,000

Telephone charges 3,52,695

Office computer purchased 2,75,350

Factory rent and insurance 3,54,760

Machinery purchased 4,25,560

Machinery repairs 98,847

Commission on sales 3,37,650

Factory salaries 2,19,588

Carriage outward 1,54,090

Packing expenses 1,94,450

Bank