ECONOMICS EXAM PAPERS COMPILATION.doc - FACULTY OF COMMERCE AND LAW MASTER OF BUSINESS ADMINISTRATION MBAZ505 MANAGERIAL ECONOMICS ANSWER ANY FOUR

ECONOMICS EXAM PAPERS COMPILATION.doc - FACULTY OF COMMERCE...

This preview shows page 1 - 2 out of 3 pages.

FACULTY OF COMMERCE AND LAW FACULTY OF COMMERCE AND LAW M ASTER OF B USINESS A DMINISTRATION MBAZ505: M ANAGERIAL E CONOMICS A NSWER ANY F OUR Q UESTIONS 1. Define and explain one advantage and one disadvantage of each of the following forms of business: Sole trader [5] Partnership [5] Cooperative [5] Private Limited Company [5] Public company [5] 2. Explain the importance of the following business objectives to the nation, using in each case an appropriate illustration: Profit maximisation illustration [5] Employment creation [5] Increasing share value [5] Provision of goods and services [5] Contributing to the fiscus [5] 3. Give an illustrated definition of each of the following concepts: Economies of scale [5] Empirical evidence [5] Break-even point [5] Diminishing returns [5] Diseconomies of scale [5] 4. (a) Define the concept competition and give its advantage. [5] (b) Explain one key characteristic of each of the following forms of competition as well as its advantage to the economy: Perfect competition [8]
Image of page 1

Subscribe to view the full document.

Image of page 2
  • Summer '18

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern

Ask Expert Tutors You can ask 0 bonus questions You can ask 0 questions (0 expire soon) You can ask 0 questions (will expire )
Answers in as fast as 15 minutes