vu eco401 Mid Term Subjective Solved Past Paper No.5

vu eco401 Economics Solved Past Papers

Solved Past Papers

This subjective solved past paper is related to book/course code vu eco401 Economics which belongs to vu organization. We have 5 past papers available related to the book/course Economics. This past paper has a total of 10 subjective questions belongs to topic Mid Term to get prepared. NVAEducation wants its users to help them learn in an easy way. For that purpose, you are free to get prepared for exams by learning subjective questions online on NVAEducatio.

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Question 2: What activities are performed in strategy evaluation stage under controlling function of management?
Answer:

Controlling function of management includes all those activities undertaken to ensure that actual operations conform to planned operations. Controlling function of management is particularly important for effective strategy evaluation. Controlling function of management has the following activities in strategy evaluation.

  1. Establishing performance standards
  2. Measuring individual and organizational performance
  3. Taking corrective actions
  4. Comparing actual performance to planned performance standards
Question 3: What are the major stakeholders that affect pricing decisions?
Answer:

Following are the five major stakeholders which affect pricing decisions.

  1. Governments
  2. Suppliers
  3. Distributors
  4. Consumers
  5. Competitors
Question 6: Can a Contingent Contract about an uncertain future event be enforcedIf yes, when can it be enforced; and if no, give reasons why it cannot be enforced.
Answer:

Yes, in contingent contract uncertain future even be enforced.

Contingent Contract (Sec. 31)

Contingent contract shall be explained in detail in later discussion on the topic.

A contingent contract is a contract to do or not to do something, if some event, collateral to such contract, does or does not happen.

Illustrations:

M/S ABC insurance company contracts with Mr. Z to pay Rupees 500,000 if his car is lifted by thieves .


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