Economics for Engineers

b) Krishna Pvt. Ltd. needs 24,000 units/year of a brought-out component which will be used in its main product. The ordering cost is Rs. 150/- per order and the carrying cost per unit per year is 18 per cent of the purchase price per unit. The purchase price per unit is Rs. 75/-. Find

(i) Economic order quantity      (ii) No. of order per year

(iii) Time between successive orders 

Attempt  the following. Give answer in brief:

h) Discuss Inflation in your own words.

Attempt  the following. Give answer in brief:

g) Discuss difference between Central Bank and Commercial Bank.

Attempt  the following. Give answer in brief:

e) Discuss Private Ownership as a type of business ownership,

Attempt  the following. Give answer in brief:

d) What do you mean by Break-Even Analysis?

Attempt  the following. Give answer in brief:

c) What do you mean by Balance Sheet of a firm?

Attempt  the following. Give answer in brief:

b) Is Perfect Competition a real world situation?

Attempt  the following. Give answer in brief:

a) Why an engineer should study Economics?

What do you mean by Taxation? How government can encourage engineering projects through its taxation policies? Explain analyzing the recent decisions of Govt. of India in this regard. 

What are the economic considerations in taking decisions related to asset replacements?Explain with suitable illustrations,

What do you mean by 'Financial Planning and Analysis? Discuss significance of Financial Planning and Analysis for Indian companies after globalization.

a) Discuss reason for growth of Public-Private Partnership in the recent years.

Discuss Elements of Material Management and Control Polices for a large Automobile firm. 

b) A company has received quotes in response to its advertisement for the purchase of a sophisticated milling machine. The data-are as per the estimate in today's rupee value. 

a) What do you mean by Asset Depreciation? Discuss its impact on Economic Analysis.

b) Three engineers started their own business after graduation. One of them used his use as the office. The cost of the machine which they have installed, is Rs. 1,00,000/- and cost of raw material is Rs. 500/- per unit and labour is Rs. 300/- per unit. What is the opportunity Cost? Also calculate the fixed and variable cost. Also discuss the reason for such classification.

a) Discuss Manufacturing cost in your own words. 

b) The cost of the machine for producing a component of the production process is Rs.20,00,000/ constructing a workshop for housing the machine and making it operational is Rs. 5,00,000/- and the cost of a labour, raw material and electricity required for producing an unit is 1000/-, 750/- and 250/- respectively. The same component is available at Rs. 27,000/- per unit in the market. If the company's annual demand is 1300 should the company make or purchase from the market? 

a) Discuss Price Elasticity of Demand. Also discuss its significance in Business.