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                                                                  School  for Continuing Education (NGA-SCE)

                                                                  Course: Business Economics

                                                                  Internal Assignment Applicable for June 2020 Examination

• All Questions carry equal marks.
• All Questions are compulsory
•  All answers to be explained in not more than 1000 words for questions 1 and 2 and for question 3 in not more than 500 words for each subsection. Use relevant examples, illustrations as far as possible.
•  All answers to be written individually. Discussion and group work is not advisable. 
• Students are free to refer to any books/reference material/website/internet for attempting their assignments but are not allowed to copy the matter as it is from the source of reference.
•  Students should write the assignment in their own words. Copying of assignments from other students is not allowed  Students should follow the following parameter for answering the assignment questions                                                                                                                                         

 Assessment Parameter Weightage Introduction 20%

Concepts and Application related to the question 60%

Conclusion 20% For Numerical Answer Assessment Parameter Weightage

Understanding and usage of the formula 20%

Procedure / Steps 50%

Correct Answer & Interpretation 30%

The concept of elasticity for demand is important for determining the prices of various factors of production. Discuss the various factors that influence the price elasticity of demand 

2. Complete the hypothetical table below and explain in brief, the behavior of each type of cost.

3. Demand forecasting in organizations plays a vital role in business organizations It provides reasonable data for the organization's capital investment and expansion decision.

a. Keeping the above statement in consideration. Discuss the various steps involved in demand forecasting  

b. Discuss the various needs for demand forecasting in business organizations?