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Micro Economics and Macro Economics Sem 1 Assignment Dec 2024

Best high-quality, 1st semester assignments for the following subjects at an affordable price – December 2024 Cycle.

NEW BATCH 2024

Get plagiarism-free, expertly crafted NMIMS 1st semester assignments for the December 2024 new batch, covering essential subjects such as Business Communication, Financial Accounting, Marketing Management, Micro and Macro Economics, Organizational Behavior, and Quantitative Methods – I. Buy assignments for all subjects with the assurance of unique, high-quality content tailored to NMIMS standards.

Here is the NMIMS question paper for New December 2024 cycle

NMIMS Centre for Distance and Online Education (NCDOE)
Course: Micro Economics & Macro Economics
Internal Assignment Applicable for Dec 2024 Examination

PLEASE NOTE: This assignment is application based, you have to apply what you have
learnt in this subject into real life scenario. You will find most of the information through
internet search and the remaining from your common sense. None of the answers appear
directly in the textbook chapters but are based on the content in the chapter

Q1 The COVID-19 pandemic of 2020 caused significant disruptions to international business
operations because numerous firms relied on suppliers from different nations, notably
China. Many companies used lean production method and kept low inventories in order
to cut costs. However, this made them susceptible to supply chain interruptions. For
instance, worldwide supply lines for electronics, including parts for laptops and cell
phones, were impacted when lockdowns forced Chinese facilities to close. The fact that
a large portion of auto parts were made in China presented difficulties for auto makers as
well, resulting in major global production halts. What impact would the COVID-19
worldwide lockdowns have on Europe’s supply curves for consumer electronics and auto
factories? Explain your observations about the aforementioned scenario, emphasizing
the supply side and the shift in the supply curve.( Note : You can make assumptions as
per the requirement of the case )
(10 Marks)
Q2 (A) The London “black cab” taxis are amongst some of the expensive in the world. They
complete to some extent with minicabs, which tend to be cheaper. However, minicabs
are not allowed to pick up customers off the street, they have to be booked in advance,
and their drivers do not have to memorize a London street map. minicabs operate in a
more competitive market and require less of the drivers. Black cab(licensed) cab drivers
must pass a background check and medical test and pay fees over 200 pounds. This
may help to ensure that passengers are safe and drivers are accountable, but it also
means that they have a monopoly on picking up people on the streets? Elaborate on the
given market structure (Black cabs and Minicabs) and discuss the Implications for
Markets with High Barriers to Entry.
(5 Marks)
Q2 (B) The two main industries driving Zamiland’s economy are manufacturing and agriculture.
The government aims to optimize production in both areas, given its limited financial
resources and workforce of ten thousand individuals. In order to improve economic wellbeing, a balance between agricultural produce and manufactured items is desired.
Based on resource allocation, the Zamiland PPC shows different production combinations for manufactured items and agricultural goods.
The PPC for Zamiland illustrates various production combinations for agricultural goods
and manufactured products based on resource allocation.
Production Combinations (Hypothetical Table)
Production Combination Agricultural Goods (Units) Manufactured Products
(Units)
Point A 500 0
Point B 400 50
Point C 300 80
Point D 200 100
Point E 100 120
Point F 0 140
Explain the concept of Production Possibility Curve and the scarcity in Zamiland that is
reflected in the production possibility curve in the given scenario. You are also required
to, share your views on the implications of operating inside the production possibility
curve in Zamiland and what does it suggest about resource utilization? (5 Marks)

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