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    Business Economics HRM1)

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    Habbi Maqbool
    This document contains instructions and questions for a final examination for a Master of Business Administration program in Human Resource Management. [SECTION A] contains a case study with multiple choice questions about price discrimination in the medical industry and the impact on society. It also addresses trends in the healthcare industry toward monopolistic or oligopolistic markets. [SECTION B] includes short answer questions about national income accounting, the consumption function, objectives of demand forecasting, and production functions. It asks students to explain the need for demand forecasting and two related methods, and to define and diagram the stages of the law of variable proportions.

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    Business Economics HRM1)

    Uploaded by

    Habbi Maqbool
    10 views4 pages
    This document contains instructions and questions for a final examination for a Master of Business Administration program in Human Resource Management. [SECTION A] contains a case study with multiple choice questions about price discrimination in the medical industry and the impact on society. It also addresses trends in the healthcare industry toward monopolistic or oligopolistic markets. [SECTION B] includes short answer questions about national income accounting, the consumption function, objectives of demand forecasting, and production functions. It asks students to explain the need for demand forecasting and two related methods, and to define and diagram the stages of the law of variable proportions.

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    This document contains instructions and questions for a final examination for a Master of Business Administration program in Human Resource Management. [SECTION A] contains a case study with multiple choice questions about price discrimination in the medical industry and the impact on society. It also addresses trends in the healthcare industry toward monopolistic or oligopolistic markets. [SECTION B] includes short answer questions about national income accounting, the consumption function, objectives of demand forecasting, and production functions. It asks students to explain the need for demand forecasting and two related methods, and to define and diagram the stages of the law of variable proportions.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    10 views4 pages

    Business Economics HRM1)

    Uploaded by

    Habbi Maqbool
    This document contains instructions and questions for a final examination for a Master of Business Administration program in Human Resource Management. [SECTION A] contains a case study with multiple choice questions about price discrimination in the medical industry and the impact on society. It also addresses trends in the healthcare industry toward monopolistic or oligopolistic markets. [SECTION B] includes short answer questions about national income accounting, the consumption function, objectives of demand forecasting, and production functions. It asks students to explain the need for demand forecasting and two related methods, and to define and diagram the stages of the law of variable proportions.

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 4

    CODE: MOG1124

    FINAL EXAMINATION

    Faculty: BUSINESS AND ACCOUNTANCY

    Program: MASTER OF BUSINESS ADMINISTRATION - HRM

    Module: BUSINESS ECONOMICS

    Semester: YEAR 1/SEMESTER 1

    Date: 7/2/2024

    Time Allowed: 03 HOURS

    Start: 5.30 P.M Finish: 8.30 P.M

    Instructions to candidate

    1. This question paper has TWO (2) Sections.


    2. Answer ALL questions in Section A and Section B.
    3. No scripts or answer sheets are to be taken out of the Examination Hall.

    DO NOT OPEN THIS QUESTION PAPER UNTIL INSTRUCTED


    SECTION A
    ANSWER ALL QUESTIONS
    (Total Marks :60)

    CASE STUDY ( Marks)

    1. Doctors usually resort to price discrimination by scaling fees to the income of the
    patients who approach them. Thus the fees charged by the doctors to individual
    patients are a case of discriminating monopoly in medical profession. This is according
    as the practice of what the traffic will bear. Doctors tend to justify this policy on the
    basis of charities. According to Kessel (1985), “if there were mere competition among
    doctors in the sale of medical services, there would be less discrimination in the pricing
    of medical services and the charges will be low for the patients”. Even though medical
    practices are currently treated as commercial plus charitable activity, the tendency
    among the medical practitioners is to adopt a monopolistic competitive market practice
    rather than discriminating monopoly. Even in certain countries, it has got the features of
    an oligopoly market.
    Questions:
    A. If doctors follow a perfectly competitive framework in medical profession, what can
    be the benefit to the society as whole?
    B. Is price discrimination beneficial to the society? How far it can be justified in
    healthcare industry practices?
    C. What features of monopolistic competition are found in the medical industry
    currently? Explain your assessment based on the country in which you reside.
    D.Is the market tend to become more and more monopolistic or oligopolistic? Assess
    your answer in the light of the modern trends in healthcare industry.
    E. In the current scenario, the medical profession has become a purely commercial
    activity targeting towards profit maximization. Comment.
    2. Discuss the need for and importance of economic growth and stability in the country’s
    business development.
    (b) ‘The scarcity of the resources gives rise to various basic economic problems which
    have to be solved by an economy if it is to fulfill its purpose’ – Explain such problems.
    (20 Marks)

    SECTION B
    Answer all questions
    (Total 40 Marks)

    1. Write notes on the following ( 20 Marks)

     a) Significance of national income accounting.


     b) Consumption function.
     c) Objectives of demand forecasting.
     d) Need for planning in business.

    2. Why there is a need for Demand Forecasting? Explain any two methods of
    demand forecasting for the established product.

    Define ‘Production Function’. Explain with a diagram, the three stages of the Law of

    Variable Proportions.

    The End

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