1. Managerial Economics is the application of Economic Theory to business management. Discuss. 
2. What are the needs for demand forecasting? Explain the various steps involved in demand forecasting. 
3. Define production function. How is it helpful while taking output decisions? 
4. (a) ‘ The monopolist represents one man industry’? Comment and discuss how equilibrium position can be attained by the monopolist.
(b) Use appropriate diagrams to supplement your answer. [10+6]
5. (a) Define partnership and explain its salient features and limitations.
(b) What are the qualities of a good partner? [8+8]
6. What are the components of working capital? Explain each of them. 
7. Give a brief account on the important records of Accounting under Double entry system and discuss briefly the scope of each. 
8. (a) From the information (given with attachments), calculate 
i. Debt Equity ratio
ii. Current ratio
(b) Calculate Interest Coverage ratio from the information (given with attachments) .