quantitative aptitude 7 october

www.afterschoool.tk AFTERSCHO☺OL's MATERIAL FOR PGPSE PARTICIPANTS

BUSINESS ECONOMICS AFTERSCHO☺OL – DEVELOPING CHANGE MAKERS

CENTRE FOR SOCIAL ENTREPRENEURSHIP PGPSE PROGRAMME –

World’ Most Comprehensive programme in social entrepreneurship & spiritual entrepreneurship

OPEN FOR ALL FREE FOR ALL


BUSINESS ECONOMICS

Dr. T.K. Jain.

AFTERSCHO☺OLCentre for social entrepreneurship

Bikaner M: 9414430763

[email protected]

www.afterschool.tk, www.afterschoool.tk

http://www.afterschool.tk/

http://www.afterschoool.tk/


IN WHICH MARKET THERE ARE NO ENTRY OR EXIT BARRIERS? • Perfect Competition


In which market, there are homogenous products?

• Perfect market


In which market, you cannot decide price?

• Perfect market


In which market, there are infinite number buyers and sellers?

• Perfect market


The MC curve in perfect market reflects one more curve, what is

that? • Supply curve


If I sell 100 items for Rs. 40 each, and 101st at Rs. 30, what is MR and

AR at 101st item sale?

• MR = 30

• AR = TOTAL REVENUE / TOTAL UNITS

• =(40*100 + 30) / 101 = 39.9 answer.


My AR is 24, MR=20, AC = 19, MC = 17. Total production = 120 units.

What is my profit? Should I produce more?

• Profit = (AR – AC ) * no. of units

• =(24 – 19 ) * 120

• =600 answer.

• Yes we should produce more, till MR = MC.


My TR = 23000, MC = 21, AC = 22, No. of Units are 1000. The firm is in equilibrium. What is profit, MR, AR?

• Profit = TR – TC =23000- 22000 = 1000

• Or (AR – AC) * 1000 = (23 -22)*1000 = 1000

• AR = Total Revenue / No. of units

• =23000/1000 = 23

• MR is 21 (MR = MC, because the firm is in equilibrium).


What is my AR, MR & TR, if my profit is 2500, Total cost is 10000,

AC is 100. the cost of last item produced was 95. The firm is in

equilibrium.

• No. of units produced = TC / AC = 10000/100 = 100

• TR = TC + profit = 10000+2500 = 12500

• AR = TR / No. of units = 12500/100 = 125

• MR = MC, so MR = 95 answer.


What is the equilibrium of the industry?

• When all the firms are earning normal profit and there is no entry and exit, it is equilibrium of the industry


What is the equilibrium of the firm in the long run?

• LMC=MR=LAC= LOWEST SMC


WHAT IS EQUILIBRIUM OF THE MONOPOLIST?

• MR = MC

• MC CURVE CUTS MR CURVE FROM BOTTOM


I HAVE TWO MARKETS, WHICH ARE FAR APART, HAVE

DIFFERENT ELASTICITIES, WHAT SHOULD I DO?

• I can go for price discrimination.


In which market, do we have non price competition?

• Monopolistic competition


When will there be equilibrium?

Price Demand supply

5 1000 130

7 400 400

9 100 1000


Solution .

• Equilibrium is at price 7 answer.


What is your economic cost:

• Labour cost : Rs. 50000

• Raw material cost : 100000

• You have invested your 400000 in the business, which could have given you 10% return easily

• If you had worked elsewhere, you could have earned Rs. 4 Lakhs per annum.


Solution ..

• (50000 + 100000+ 40000+ 400000)

• = 5,90,000 answer.


What is the market structure of telecom industry in India, which

following structure:

• Airtel : 34%

• Reliance :18%

• Vodafone : 18%

• BSNL : 10%

• Others: Remaining

• SOLUTION:

• Oligopoly


Which industries are reserved for public sector ?

• Atomic energy

• Rail transport

• Substances related to atomic energy


Which of the following is false?

1. Bank rate has reduced over last one decade

2. CRR and SLR have reduced over last decade

3. PLR is set by RBI4. 74% FDI is permitted in Banking sector. SOLUTION; 3. PLR (prime lending rate) is now set by

banks


Which of these is false?

1. Tax rate on domestic companies have been reduced.

2. Tax rate on foreign companies have been reduced.

3. TDS certificates will also be dematerialised4. There is one by 6 scheme, for filling income tax

returns5. Excise duties are rationalised. • SOLUTION: • 4. The scheme has be removed.


Why is there fiscal mismanagement in India?

1. Subsidies2. Huge government structure3. Changing plan schemes4. Privatisation5. Downsizing6. Administrative reformsSOLUTION: 1,2,3


Which is true?

1. Companies are shy in restructuring.

2. Companies are laggards in brand building

3. States have also implemented fiscal reforms

4. We have to scrap outdated laws and reform the laws

5. We have to amend labour laws

SOLUTION

4,5 ANSWER


WHICH OF THESE WAS ONCE A PUBLIC SECTOR COMPANY?

1. HINDALCO2. VSNL3. HINDUSTAN ZINC4. CMC5. MODERN DAIRIES6. MODERN FOOD7. IPCL8. MARUTISOLUTION: 2,3,4,6,7,8


Full forms of ?

• ADR,GDR,WTO,TRIPs, EMR, APM,FI,FII,PTA,MTA,GATT,IDA,MIGA,ICSID,IFC,IBRD,

• SOLUTION; American Depository Receipt, Global Depository Receipts, World Trade Organisation, Trade Related Intellectual Property Rights, Exclusive Marketing Rights, Administered Price Mechanism, Financial Institution, Foreign Institutitonal investor, Plurilateral Trade Agreements, Multilateral Trade Agreements, General Agreement on trade and tariffs, International development association, Multilateral investment guarantee agency, International Centre for Settlement of Investment Disputes, International Finance corporaton, International bank for Reconstruction and Development.


What is the other name of world bank?

• IBRD


Full forms of :

• FIEO,CENVAT,FRBMA,LPG,EPCG?

• Solution:

• Federation of Indian Export organisations, Cental Value Added Tax, Fiscal Responsibility and Budget Management Act, Liberalisation, privatisation and globalisation, Export Promotion Capital goods.


ABOUT AFTERSCHO☺OL

Afterschoool conducts three year integrated PGPSE (after class 12th along with IAS / CA / CS) and 18 month PGPSE (Post Graduate Programme in Social Entrepreneurship) along with preparation for CS / CFP / CFA /CMA / FRM. This course is also available online also. It also conducts workshops on social entrepreneurship in schools and colleges all over India – start social entrepreneurship club in your institution today with the help from afterschoool and help us in developing society.


Why such a programme?

• To promote people to take up entrepreneurship and help develop the society

• To enable people to take up franchising and other such options to start a business / social development project

• To enable people to take up social development as their mission

• To enable people to promote spirituality and positive thinking in the world


Who are our supporters?

• Afterschoolians, our past beneficiaries, entrepreneurs and social entrepreneurs are supporting us.

• You can also support us – not necessarily by money – but by being promotor of our concept and our ideas.


About AFTERSCHO☺OL PGPSE – the best programme for developing great

entrepreneurs• Most flexible, adaptive but rigorous programme• Available in distance learning mode• Case study focused- latest cases • Industry oriented practical curriculum• Designed to make you entrepreneurs – not just

an employee• Option to take up part time job – so earn while

you learn • The only absolutely free course on internet


Workshops from AFTERSCHO☺OL

• IIF, Delhi• CIPS, Jaipur• ICSI Hyderabad Branch• Gyan Vihar, Jaipur• Apex Institute of Management, Jaipur• Aravali Institute of Management, Jodhpur• Xavier Institute of Management, Bhubaneshwar • Pacific Institute, Udaipur• Engineering College, Hyderabad


Flexible Specialisations:

• Spiritualising business and society• Rural development and transformation• HRD and Education, Social Development• NGO and voluntary work• Investment analysis,microfinance and inclusion • Retail sector, BPO, KPO• Accounting & Information system (with CA / CS /CMA)• Hospital management and Health care• Hospitality sector and culture and heritage• Other sectors of high growth, high technology and social

relevance


Salient features:• The only programme of its kind (in the whole world)• No publicity and low profile course• For those who want to achieve success in life – not just a

degree• Flexible – you may stay for a month and continue the rest of

the education by distance mode. / you may attend weekend classes

• Scholarships for those from poor economic background• Latest and constantly changing curriculum – keeping pace

with the time• Placement for those who are interested• Admissions open throughout the year • Latest and most advanced technologies, books and study

material


Components • Pedagogy curriculum and approach based on IIM Ahmedabad and ISB

Hyderabad (the founder is alumnus from IIMA & ISB Hyderabad)• Meditation, spiritualisation, and self development • Essential softwares for business• Business plan, Research projects• Participation in conferences / seminars• Workshops on leadership, team building etc. • Written submissions of research projects/articles / papers• Interview of entrepreneurs, writing biographies of entrepreneurs• Editing of journals / newsletters• Consultancy / research projects • Assignments, communication skill workshops• Participation in conferences and seminars• Group discussions, mock interviews, self development diaryng • Mind Power Training & writing workshop (by Dr. T.K.Jain)


Pedagogy

• Case analysis,• Articles from Harvard Business Review • Quiz, seminars, workshops, games, • Visits to entrepreneurs and industrial visits• Presentations, Latest audio-visuals• Group discussions and group projects• Periodic self assessment• Mentoring and counselling• Study exchange programme (with institutions out of

India)• Rural development / Social welfare projects


Branches

• AFTERSCHO☺OL will shortly open its branches in important cities in India including Delhi, Kota, Mumbai, Gurgaon and other important cities. Afterschooolians will be responsible for managing and developing these branches – and for promoting social entrepreneurs.


Case Studies

• We want to write case studies on social entrepreneurs, first generation entrepreneurs, ethical entrepreneurs. Please help us in this process. Help us to be in touch with entrepreneurs, so that we may develop entrepreneurs.


Basic values at AFTERSCHO☺OL

• Share to learn more• Interact to develop yourself• Fear is your worst enemy• Make mistakes to learn • Study & discuss in a group• Criticism is the healthy route to mutual support

and help • Ask fundamental questions : why, when, how &

where?• Embrace change – and compete with yourself

only


www.afterschoool.tk social entrepreneurship for better

society

http://www.afterschoool.tk/

quantitative aptitude 7 october

Business

perfect market

mc mc curve cuts mr

remaining solution

labour laws solution

total cost

total revenue total

price competition

normal profit