MBA IIBM ANSWER SHEETS - Dabur is among the top five FMCG companies in

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Managerial Economics

Multiple choices:

  1. Demand is determined by
  1. a) Price of the product
  2. b) Relative prices of other goods
  3. c) Tastes and habits
  4. d) All of the above
  1. When a firm’s average revenue is equal to its average cost, it gets
  1. a) Super profit
  2. b) Normal profit
  3. c) Subnormal profit
  4. d) None of the above

III. Managerial economics generally refers to the integration of economic theory with business

  1. a) Ethics
  2. b) Management
  3. c) Practice
  4. d) All of the above
  1. Which of the following was not the immediate cause of the 1991 economic crisis
  2. a) The rapid growth of population
  3. b) Severe inflation
  4. c) Expanding Fiscal deficit
  5. d) Rising current account deficit
  1. Money functions refer to :
  1. a) Store of value
  2. b) Medium of Exchange
  3. c) Standard of deferred payments
  4. d) All of the above
  1. Given the price, if the cost of production increases because of the higher price of raw materials, the supply
  2. a) Decreases
  3. b) Increases
  4. c) Remains the same
  5. d) Any of the above

VII. Total Utility is maximum when

  1. Marginal Utility is maximum
  2. Marginal Utility is Zero
  3. Both of the above
  4. None Of The Above

VIII. Cardinal approach is related to

  1. Equimarginal Curve
  2. Law of diminishing returns
  3. Indifference Curve
  4. All of the above
  1. Marginal Utility curve of a consumer is also his
  2. a) Supply Curve
  3. b) Demand Curve
  4. c) Both of the above
  5. d) None of the above
  1. Government of India has replaced FERA by
  2. a) The competition Act
  3. b) FRBMA
  4. c) MRTP Act
  5. d) FEMA

Part Two:

  1. What is Managerial Economics? What is its relevance to Engineers/Managers?
  2. “Managerial Economics is economics that is applied in decision making” Explain?
  3. Differentiate b/w, Micro economics vs. macroeconomics?
  4. Factors Affecting Price Elasticity of Demand?

Section B: Caselets (40 marks)

Caselet1

Dabur is among the top five FMCG companies in India and is positioned successfully on the specialist herbal platform. Dabur has proven its expertise in the fields of health care, personal care, home care, and foods. The company was founded by Dr. S. K. Burman in 1884 as a small pharmacy in Calcutta (now Kolkata), India. And is now led by his great-grandson Vivek C. Burman, who is the Chairman of Dabur India Limited and the senior-most representative of the Burman family in the company. The company headquarters is in Ghaziabad, India, near the Indian capital New Delhi, where it is registered. The company has over 12 manufacturing units in India and abroad. The international facilities are located in Nepal, Dubai, Bangladesh, Egypt, and Nigeria. S.K. Burman, the founder of Dabur, was trained as a physician. His mission was to provide an effective and affordable cure for ordinary people in far-flung villages. Soon, he started preparing natural remedies based on Ayurveda for diseases such as Cholera, Plague, and Malaria. Due to his cheap and effective remedies, he became to be known as ‘Daktar’ (Indian sized version of ‘doctor’). And that is how his venture Dabur got its name—derived from Daktar Burman. The company faces stiff competition from many multinational and domestic companies. In the Branded and Packaged Food and Beverages segment major companies that are active include Hindustan Lever, Nestle, Cadbury, and Dabur. In the case of Ayurvedic medicines and products, the major competitors are Baidyanath, Vicco, Jhandu, Himani and other pharmaceutical companies.

The vision statement of Dabur says that the company is “dedicated to the health and wellbeing of every household”. The objective is to “significantly accelerate profitable growth by providing comfort to others”. For achieving this objective Dabur aims to:

 Focus on growing core brands across categories, reaching out to new geographies, within and outside