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    Instructions To Candidates Answer THREE (3) Questions Only. All Questions Carry 25 Marks Each. Draw Diagrams Where Appropriate

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    Instructions To Candidates Answer THREE (3) Questions Only. All Questions Carry 25 Marks Each. Draw Diagrams Where Appropriate

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    ahi52001
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    Original Title

    MBA - BE Exam

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    20 views2 pages

    Instructions To Candidates Answer THREE (3) Questions Only. All Questions Carry 25 Marks Each. Draw Diagrams Where Appropriate

    Uploaded by

    ahi52001

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as DOC, PDF, TXT or read online from Scribd
    Download as doc, pdf, or txt
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    MBA – BUSINESS ENVIRONMENT

    Instructions to candidates
    Answer THREE (3) questions only.
    All questions carry 25 marks each.
    Draw diagrams where appropriate.

    1. The discovery of BSE in cattle had a devastating effect on the market for beef
    in the 1990s. After a good deal of prevarication, the British government
    announced that the disease could spread to humans. These cause the EU to
    ban the sale of British beef in the EU outside the UK. The ban was only lifted
    in 1999, and then only subject to very strict conditions. In the UK, the effect
    on consumption seemed only short-term, but it nudged many people into
    becoming vegetarians.

    a. Draw a diagram to show the effect of BSC on the market for beef.
    b. Draw a diagram to show the effect of BSC on the market for
    vegetarian dishes.
    c. Who benefited from these developments?

    2. “Education is a basic right. Just as nursery-school through high-school is free,


    so, too, should a university education be free and guaranteed to every
    individual.”

    a. What would be the opportunity cost of providing free education for


    everyone?
    b. Is providing this education free from the perspective of society as a
    whole?

    3. a) Draw a diagram illustrating the case of a perfectly competitive firm that is


    earning an economic profit. In the diagram, show the amount of the
    economic profit.
    b) In a diagram, show the case of a perfectly competitive firm in
    break-even situation.
    c) Draw a diagram to illustrate the case of a perfectly competitive
    firm that is incurring an economic loss but is continuing to operate.
    Be sure to include the AVC curve. Show the amount of the
    economic loss.
    d) Why will economic profits be zero at long-run equilibrium in a
    perfectly competitive industry? Be sure to mention the roles played
    by economic profits and losses.

    4. How can we achieve and measure economic growth? Explain the advantages and
    disadvantages of economic growth. Do you think economic growth is a desirable
    objective for government?

    5. a. Starting from a position of long-run equilibrium analyze the effects of an

    LSC
    MBA – BUSINESS ENVIRONMENT

    expansionary fiscal policy on unemployment, GDP and the rate of


    inflation.
    b. Explain why inflation is regarded as a problem by governments.

    LSC

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