Question bank Engineering Economics and Financial Accounting unit 1

QUESTION BANK-- Assignment questions 
Subject Code : MG 52 Year : IV CSE
Subject Name : Engineering Economics and Financial Accounting        

UNIT – 1 INTRODUCTION
2 marks
1. Alfred Marshall’s Definition of economics?
2. Scarcity definition of economics?
3. Definition of economics by Paul A. Samuelson?
4. What is economic and non economic activity?
5. What are the features of economics?
6. What is engineering economics?
7. What is managerial economics?
8. What are the characteristics of managerial economics?
9. Differentiate between microeconomics and macroeconomics?
10. What is positive and normative economics?
11. What are the types of economic systems?
12. What are the main areas of application in managerial economics?
13. What are the disciplines linked with managerial economics?
14. What is the main purpose of business?
15. What is the objective of the firm stated by Peter Drucker?
16. What are the other objectives of the firm?
17. What are the types of firm?
18. What are the theories about the objective of the firm?
19. Define decision making.
20. What are the fundamental principles or basic concepts in decision making?
21. What are the steps in decision making process?
22. What are the types of managerial decisions?
23. What are the classification of managerial decision based on the degree of complexity and outcome certainty?
24. What are the techniques involved in decision making process?
25. What are the barriers for effective decision making?

16 marks
1. Define Economics. Explain the nature, scope and significance of economics.
2. Define Managerial economics. Explain the nature and scope of managerial economics.
3. Explain the main area of managerial economics and how it is linked with other disciplines.
4. Explain the objectives of the firm along with its types.
5. Define decision making and the steps involved in decision making process.
6. Explain the different types of managerial decisions.
7. Explain the different techniques used in the process of decision making.
8. Explain the importance of managerial decision making. How do you overcome the barriers to effective decision making process?

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