Commerce Sample Questions Business Economics IAS

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  1. What is business economics?

  2. Explain the nature of business economics

  3. What are main uses of business economics?

  4. Explain the concept of profit and wealth maximization assumption of business economics.

  5. Explain demand and demand analysis.

  6. What is elasticity of demand?

  7. Explain curve analysis law.

  8. Define Utility and utility analysis.

  9. What is law of indifference of returns?

  10. What is law of variable proportions and explain it in detail?

  11. Define cost and also explain the concept of cost.

  12. Define revenue and also explain the concept of revenue.

  13. How to determine the price in different market situations?

  14. What is perfect competition, monopolistic competition, monopoly?

  15. What is oligopoly and how to you calculate price in oligopoly?

  16. Explain different pricing strategies.

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