Managerial Economics IIBM EXAM 2017 QUESTION ANSWERS PROVIDED
Section A: Objective Type & Short Questions (30 marks)
This section consists of multiple choices & Short notes type questions.
Answer all the questions.
Part one carries 1 mark each & Part two carries 5 marks each.
Part one:
Multiple choices:
1. It is a study of economy as a whole.
a. Macroeconomics
b. Microeconomics
c. Recession
d. Inflation
2. A comprehensive formulation which specifies the factors that influence the demand for the product.
a. Market demand
b. Demand schedule
c. Demand function
d. Income effect
3. It is computed when the data is discrete and therefore incremental changes is measurable.
a. Substitution effect
b. Arc elasticity
c. Point elasticity
d. Derived demand
4. Goods & services used for final consumption is called:
a. Demand
b. Consumer goods
c. Producer goods
d. Perishable goods
5. The curve at which satisfaction is equal at each point.
a. Marginal utility
b. Cardinal measure of utility
c. The Indifference Curve
d. Budget line
6. Costs that are reasonably expected to be incurred in some future period or periods are:
a. Future costs
b. Past costs
Examination Paper of Managerial Economics
IIBM Institute of Business Management 2
c. Incremental costs
d. Sunk costs
7. Condition when the firm has no tendency either to increase or to contract its output:
a. Monopoly
b. Profit
c. Equilibrium
d. Market
8. Total market value of all finished goods & services produced in a year by a country’s residents is
known as:
a. National income
b. Gross national product
c. Gross domestic product
d. Real GDP
9. The sum of net value of goods & services produced at market prices:
a. Government expenditure
b. Product approach
c. Income approach
d. Expenditure approach
10. The market value of all the final goods & services made within the borders of a nation in an year.
a. Globalization
b. Subsidies
c. GDP
d. GNP
Part Two:
1. Discuss the concept of Demand Schedule.
2. Explain the law of ‘Diminishing marginal returns’.
3. List the various forms of Market Structure.
4. What are the various methods of measuring national income?
END OF SECTION A
Section B: Case lets (40 marks)
This section consists of Case lets.
Answer all the questions.
Each Case let carries 20 marks.
Detailed information should form the part of your answer (Word limit 150 to 200 words).
Examination Paper of Managerial Economics
Case let 1
The war on drugs is an expensive battle, as a great deal of resources go into catching those who buy or
sell illegal drugs on the black market, prosecuting them in court, and housing them in jail. These costs
seem particularly exorbitant when dealing with the drug marijuana, as it is widely used, and is likely no
more harmful than currently legal drugs such as tobacco and alcohol. There's another cost to the war on
drugs, however, which is the revenue lost by governments who cannot collect taxes on illegal drugs. In a
recent study for the Fraser Institute, Canada, Economist Stephen T. Easton attempted to calculate how
much tax revenue the government of the country could gain by legalizing marijuana. The study estimates
that the average price of 0.5 grams (a unit) of marijuana sold for $8.60 on the street, while its cost of
production was only $1.70. In a free market, a $6.90 profit for a unit of marijuana would not last for
long. Entrepreneurs noticing the great profits to be made in the marijuana market would start their own
grow operations, increasing the supply of marijuana on the street, which would cause the street price of
the drug to fall to a level much closer to the cost of production. Of course, this doesn't happen because
the product is illegal; the prospect of jail time deters many entrepreneurs and the occasional drug bust
ensures that the supply stays relatively low. We can consider much of this $6.90 per unit of marijuana
profit a risk-premium for participating in the underground economy. Unfortunately, this risk premium is
making a lot of criminals, many of whom have ties to organized crime, very wealthy. Stephen T. Easton
argues that if marijuana was legalized, we could transfer these excess profits caused by the risk premium
from these grow operations to the government: If we substitute a tax on marijuana cigarettes equal to the
difference between the local production cost and the street price people currently pay – that is, transfer
the revenue from the current producers and marketers (many of whom work with organized crime) to the
government, leaving all other marketing and transportation issues aside we would have revenue of (say)
$7 per [unit]. If you could collect on every cigarette and ignore the transportation, marketing, and
advertising costs, this comes to over $2 billion on Canadian sales and substantially more from an export
tax, and you forego the costs of enforcement and deploy your policing assets elsewhere. One interesting
thing to note from such a scheme is that the street price of marijuana stays exactly the same, so the
quantity demanded should remain the same as the price is unchanged. However, it's quite likely that the
demand for marijuana would change from legalization. We saw that there was a risk in selling
marijuana, but since drug laws often target both the buyer and the seller, there is also a risk (albeit
smaller) to the consumer interested in buying marijuana. Legalization would eliminate this risk, causing
the demand to rise. This is a mixed bag from a public policy standpoint: Increased marijuana use can
have ill effects on the health of the population but the increased sales bring in more revenue for the
government. However, if legalized, governments can control how much marijuana is consumed by
increasing or decreasing the taxes on the product. There is a limit to this, however, as setting taxes too
high will cause marijuana growers to sell on the black market to avoid excessive taxation. When
considering legalizing marijuana, there are many economic, health, and social issues we must analyze.
One economic study will not be the basis of Canada's public policy decisions, but Easton's research does
conclusively show that there are economic benefits in the legalization of marijuana. With governments
scrambling to find new sources of revenue to pay for important social objectives such as health care and
education expect to see the idea raised in Parliament sooner rather than later.
Questions:
1. Plot the demand schedule and draw the demand curve for the data given for Marijuana in the case
above.
2. On the basis of the analysis of the case above, what is your opinion about legalizing marijuana in
Canada?
Examination Paper of Managerial Economics
IIBM Institute of Business Management 4
Case let 2
Case 1: The Stock Market
The stock market is very close to a perfect competitive market. The price of a stock usually is
determined by the market forces of demand and supply of the stock and individual buyers and sellers of
the stock have little effect on price (they are price-takers). Resources are mobile as stock is bought and
sold frequently. Information about prices and quantities is readily available. Funds flow into stocks and
resources flow into uses in which the rate of return. Thus stock prices provide the signal for efficient
allocation of investment in the economy. However, imperfections occur here also though the stock
market is very close to a perfect competition, for example, sale of huge amount of stocks by a large
corporation will certainly affect (depress) the price of its stocks.
Question
1. Find out the characteristic of National Stock Exchange.
END OF SECTION B
Section C: Applied Theory (30 marks)
This section consists of Applied Theory Questions.
Answer all the questions.
Each question carries 15 marks.
Detailed information should form the part of your answer (Word limit 200 to 250 words).
1. What do you understand by Monitory Policy? Discuss roles and functions of RBI.
2. What is the concept of law of demand? Discuss Elasticity of Demand in detail.
Organizational Behaviour IIBM EXAM ANSWER SHEET PROVIDED
Section A: Objective Type & Short Questions (30 marks)
This section consists of Multiple Choice and short notes type questions
Answer all the questions.
Part one carries 1 mark each and part two carries 5 marks each.
Part A:-
Multiple Choices:-
1. Which of the following is not comes under Maslow‟s needs theory?
1. Social needs
2. Affiliation needs
3. Physiological needs
4. Specification needs
2. Collegial model is an extension of:
a. Supportive model
b. Autocratic model
c. Custodial model
d. None of the above
3. Sigmund Freud‟s theory on personality is:
a. Related with moral values
b. Related with sexual values
c. Related with social values
d. Related with parental values
4. A person who moves fast, talk rapidly, usually impatient, measures success by quantity is a person
of:
a. Class A personality type
b. Class B personality type
c. Class C personality type
d. Class AB personality type
5. According to Maslow‟s need hierarchy theory esteem need comes at__________ position from
bottom:
a. 2nd
b. 3rd
c. 4th
d. 5th
Examination Paper of Organizational Behaviour
6. Informal communication is also called:
a. Grapevine
b. Red vine
c. Adams communication
d. Dead communication
7. Needs related to hunger, thirst, sleep etc. are considered as:
a. Safety needs
b. Physiological needs
c. Social needs
d. Self actualization needs
8. Horizontal expansion of a job that involves the addition of tasks at same level of skills:
a. Job enrichment
b. Job rotation
c. Job enlargement
d. Management by objectives
9. Path goal theory of leadership is developed by:
a. Robert R. Blake
b. Charles Bird
c. Fred fielder
d. Robert House
10. Potential or ability to influence others in a delivered direction is called:
a. Politics
b. Power
c. Motivation
d. Leadership
Part B:-
1. Define Bureaucracy.
2. State the concept of „Span of Control‟.
3. Wright a short note on classical conditioning learning theory of Ivan Pavlov.
4. What are the various stages of group development?
END OF SECTION A
Examination Paper of Organizational Behaviour
Section B: Caselets (40 marks)
This section consists of Caselets.
Answer all the questions.
Each Caselet carries 20 marks.
Detailed information should form the part of your answer (Word limit 150 to 200 words).
Caselet 1
M/s. ABC Ltd is a medium-sized engineering company producing a large-range of product lines
according to customer requirements. It has earned a good reputation as a quick and reliable supplier to
its customers because of which its volume of business kept on increasing. However, over the past one
year, the Managing Director of the company has been receiving customer complaints due to delays in
dispatch of products and at times the company has to pay substantial penalty for not meeting the
schedule in time. The Managing Director convened an urgent meeting of various functional managers
to discuss the issue. The marketing manager questioned the arbitrary manner of giving priority to
products in manufacturing line, causing delays in wanted products and over-stocking of products
which are not required immediately. Production Control Manager complained that he does not have
adequate staff to plan and control the production function; and whatever little planning he does, is
generally overlooked by shop floor manager. Shop floor managers complained of unrealistic
planning, excessive machine breakdowns, power failure, and shortage of materials for scheduled
products because of which it is impossible to stick to the schedule. Maintenance manager says that he
does not get important spares required for equipment maintenance because of which he cannot repair
machines at a faster rate. Inventory control manager says that on one hand the company often accuses
him of carrying too much stock and on other hand people are grumbling over shortages. Fed up by
mutual mud-slinging, the Managing Director decided to appoint you, a bright management consultant
with training in business management to suggest ways and means to put his “house in order”.
Questions:-
1. What would you suggest to avoid delays in dispatch of products?
2. What action should be taken by various functional managers to meet the scheduled dates?
Caselet 2
Rajender Kumar was a production worker at competent Motors Limited (CML) which made
components and accessories for the automotive industry. He had worked at CML for almost seven
years as a welder, along with fifteen other men in the plant. All had received training in welding both
on the job and through company sponsored external programmes. They had friendly relations and got
along very well with one another. They played Volleyball in the playground regularly before retiring
to the quarters allotted by the company. They work together in the company canteen, cutting Jokes on
each other and making fun of everyone who dared to step into their privacy during lunch hour. Most
of the fellows had been there for some length of time, except for two men who had joined the ranks
only two months back. Rajender was generally considered to be the leader of the group, so it was no
surprise that when the foreman of the new was transferred and his job was posted, Rajender applied
for the job and got it.
There were only four other applicants for the job, two from mechanical section and two from outside,
when there was a formal announcement of the appointment on a Friday afternoon, everyone in the
group congratulated Rajender. They literally carried him on their shoulders, and bought him snacks
and celebrated. On Monday morning, Rajender joined duty as Foreman. It was company practice for
all foremen to wear blue jacket and a white shirt. Each man‟s coat had his name badge sewn onto the
left side pocket. The company had given two pairs to Rajender. He was proud to wear the coat to
work on Monday. People who saw him from a distance went up to him and admired the new blue
coat. There was a lot of kidding around calling Rajender as „Hero‟, „Raja Babu‟ and „Officer‟ etc.
One of the guys went back to his locker and returned with a long brush and acted as though he were
removing dust particles on the new coat. After about five minutes of horseplay, all the men went back
to work. Rajender went to his office to familiarize himself with the new job and environment. At
noon, all the men broke for Lunch and went to the canteen to eat and take a break as usual. Rajender
was busy when they left but followed after them a few minutes later. He bought the food coupon,
took the snacks and tea and turned to face the open canteen. On the left-side corner of the room was
his old work group; on the right-hand side of the canteen sat the other entire foreman in the plant—all
in their smart blue coats.
At that point of time, silence descended on the canteen. Both groups looked at Rajender anxiously,
waiting to see which group he would choose to eat with.
Questions:
1. Whom do you think Rajender will eat with? Why?
2. If you were one of the other foremen, what could you do to make Rajinder‟s transition easier?
END OF SECTION B
Section C: Applied Theory (30 Marks)
This section consists of Applied Theory Questions.
Answer all the questions.
Each question carries 15 marks.
Detailed information should form the part of your answer (Word limit 200 to 250 words).
1. What are Psychological games & why people play these games?
2. A good leader is not necessarily a good manager.” Discuss this statement & compare leadership
with management.
Section A: Objective Type & Short Questions (30 marks)
This section consists of multiple choices & Short notes type questions.
Answer all the questions.
Part one carries 1 mark each & Part two carries 5 marks each.
Part one:
Multiple choices:
1. It is a study of economy as a whole.
a. Macroeconomics
b. Microeconomics
c. Recession
d. Inflation
2. A comprehensive formulation which specifies the factors that influence the demand for the product.
a. Market demand
b. Demand schedule
c. Demand function
d. Income effect
3. It is computed when the data is discrete and therefore incremental changes is measurable.
a. Substitution effect
b. Arc elasticity
c. Point elasticity
d. Derived demand
4. Goods & services used for final consumption is called:
a. Demand
b. Consumer goods
c. Producer goods
d. Perishable goods
5. The curve at which satisfaction is equal at each point.
a. Marginal utility
b. Cardinal measure of utility
c. The Indifference Curve
d. Budget line
6. Costs that are reasonably expected to be incurred in some future period or periods are:
a. Future costs
b. Past costs
Examination Paper of Managerial Economics
IIBM Institute of Business Management 2
c. Incremental costs
d. Sunk costs
7. Condition when the firm has no tendency either to increase or to contract its output:
a. Monopoly
b. Profit
c. Equilibrium
d. Market
8. Total market value of all finished goods & services produced in a year by a country’s residents is
known as:
a. National income
b. Gross national product
c. Gross domestic product
d. Real GDP
9. The sum of net value of goods & services produced at market prices:
a. Government expenditure
b. Product approach
c. Income approach
d. Expenditure approach
10. The market value of all the final goods & services made within the borders of a nation in an year.
a. Globalization
b. Subsidies
c. GDP
d. GNP
Part Two:
1. Discuss the concept of Demand Schedule.
2. Explain the law of ‘Diminishing marginal returns’.
3. List the various forms of Market Structure.
4. What are the various methods of measuring national income?
END OF SECTION A
Section B: Case lets (40 marks)
This section consists of Case lets.
Answer all the questions.
Each Case let carries 20 marks.
Detailed information should form the part of your answer (Word limit 150 to 200 words).
Examination Paper of Managerial Economics
Case let 1
The war on drugs is an expensive battle, as a great deal of resources go into catching those who buy or
sell illegal drugs on the black market, prosecuting them in court, and housing them in jail. These costs
seem particularly exorbitant when dealing with the drug marijuana, as it is widely used, and is likely no
more harmful than currently legal drugs such as tobacco and alcohol. There's another cost to the war on
drugs, however, which is the revenue lost by governments who cannot collect taxes on illegal drugs. In a
recent study for the Fraser Institute, Canada, Economist Stephen T. Easton attempted to calculate how
much tax revenue the government of the country could gain by legalizing marijuana. The study estimates
that the average price of 0.5 grams (a unit) of marijuana sold for $8.60 on the street, while its cost of
production was only $1.70. In a free market, a $6.90 profit for a unit of marijuana would not last for
long. Entrepreneurs noticing the great profits to be made in the marijuana market would start their own
grow operations, increasing the supply of marijuana on the street, which would cause the street price of
the drug to fall to a level much closer to the cost of production. Of course, this doesn't happen because
the product is illegal; the prospect of jail time deters many entrepreneurs and the occasional drug bust
ensures that the supply stays relatively low. We can consider much of this $6.90 per unit of marijuana
profit a risk-premium for participating in the underground economy. Unfortunately, this risk premium is
making a lot of criminals, many of whom have ties to organized crime, very wealthy. Stephen T. Easton
argues that if marijuana was legalized, we could transfer these excess profits caused by the risk premium
from these grow operations to the government: If we substitute a tax on marijuana cigarettes equal to the
difference between the local production cost and the street price people currently pay – that is, transfer
the revenue from the current producers and marketers (many of whom work with organized crime) to the
government, leaving all other marketing and transportation issues aside we would have revenue of (say)
$7 per [unit]. If you could collect on every cigarette and ignore the transportation, marketing, and
advertising costs, this comes to over $2 billion on Canadian sales and substantially more from an export
tax, and you forego the costs of enforcement and deploy your policing assets elsewhere. One interesting
thing to note from such a scheme is that the street price of marijuana stays exactly the same, so the
quantity demanded should remain the same as the price is unchanged. However, it's quite likely that the
demand for marijuana would change from legalization. We saw that there was a risk in selling
marijuana, but since drug laws often target both the buyer and the seller, there is also a risk (albeit
smaller) to the consumer interested in buying marijuana. Legalization would eliminate this risk, causing
the demand to rise. This is a mixed bag from a public policy standpoint: Increased marijuana use can
have ill effects on the health of the population but the increased sales bring in more revenue for the
government. However, if legalized, governments can control how much marijuana is consumed by
increasing or decreasing the taxes on the product. There is a limit to this, however, as setting taxes too
high will cause marijuana growers to sell on the black market to avoid excessive taxation. When
considering legalizing marijuana, there are many economic, health, and social issues we must analyze.
One economic study will not be the basis of Canada's public policy decisions, but Easton's research does
conclusively show that there are economic benefits in the legalization of marijuana. With governments
scrambling to find new sources of revenue to pay for important social objectives such as health care and
education expect to see the idea raised in Parliament sooner rather than later.
Questions:
1. Plot the demand schedule and draw the demand curve for the data given for Marijuana in the case
above.
2. On the basis of the analysis of the case above, what is your opinion about legalizing marijuana in
Canada?
Examination Paper of Managerial Economics
IIBM Institute of Business Management 4
Case let 2
Case 1: The Stock Market
The stock market is very close to a perfect competitive market. The price of a stock usually is
determined by the market forces of demand and supply of the stock and individual buyers and sellers of
the stock have little effect on price (they are price-takers). Resources are mobile as stock is bought and
sold frequently. Information about prices and quantities is readily available. Funds flow into stocks and
resources flow into uses in which the rate of return. Thus stock prices provide the signal for efficient
allocation of investment in the economy. However, imperfections occur here also though the stock
market is very close to a perfect competition, for example, sale of huge amount of stocks by a large
corporation will certainly affect (depress) the price of its stocks.
Question
1. Find out the characteristic of National Stock Exchange.
END OF SECTION B
Section C: Applied Theory (30 marks)
This section consists of Applied Theory Questions.
Answer all the questions.
Each question carries 15 marks.
Detailed information should form the part of your answer (Word limit 200 to 250 words).
1. What do you understand by Monitory Policy? Discuss roles and functions of RBI.
2. What is the concept of law of demand? Discuss Elasticity of Demand in detail.
Organizational Behaviour IIBM EXAM ANSWER SHEET PROVIDED
Section A: Objective Type & Short Questions (30 marks)
This section consists of Multiple Choice and short notes type questions
Answer all the questions.
Part one carries 1 mark each and part two carries 5 marks each.
Part A:-
Multiple Choices:-
1. Which of the following is not comes under Maslow‟s needs theory?
1. Social needs
2. Affiliation needs
3. Physiological needs
4. Specification needs
2. Collegial model is an extension of:
a. Supportive model
b. Autocratic model
c. Custodial model
d. None of the above
3. Sigmund Freud‟s theory on personality is:
a. Related with moral values
b. Related with sexual values
c. Related with social values
d. Related with parental values
4. A person who moves fast, talk rapidly, usually impatient, measures success by quantity is a person
of:
a. Class A personality type
b. Class B personality type
c. Class C personality type
d. Class AB personality type
5. According to Maslow‟s need hierarchy theory esteem need comes at__________ position from
bottom:
a. 2nd
b. 3rd
c. 4th
d. 5th
Examination Paper of Organizational Behaviour
6. Informal communication is also called:
a. Grapevine
b. Red vine
c. Adams communication
d. Dead communication
7. Needs related to hunger, thirst, sleep etc. are considered as:
a. Safety needs
b. Physiological needs
c. Social needs
d. Self actualization needs
8. Horizontal expansion of a job that involves the addition of tasks at same level of skills:
a. Job enrichment
b. Job rotation
c. Job enlargement
d. Management by objectives
9. Path goal theory of leadership is developed by:
a. Robert R. Blake
b. Charles Bird
c. Fred fielder
d. Robert House
10. Potential or ability to influence others in a delivered direction is called:
a. Politics
b. Power
c. Motivation
d. Leadership
Part B:-
1. Define Bureaucracy.
2. State the concept of „Span of Control‟.
3. Wright a short note on classical conditioning learning theory of Ivan Pavlov.
4. What are the various stages of group development?
END OF SECTION A
Examination Paper of Organizational Behaviour
Section B: Caselets (40 marks)
This section consists of Caselets.
Answer all the questions.
Each Caselet carries 20 marks.
Detailed information should form the part of your answer (Word limit 150 to 200 words).
Caselet 1
M/s. ABC Ltd is a medium-sized engineering company producing a large-range of product lines
according to customer requirements. It has earned a good reputation as a quick and reliable supplier to
its customers because of which its volume of business kept on increasing. However, over the past one
year, the Managing Director of the company has been receiving customer complaints due to delays in
dispatch of products and at times the company has to pay substantial penalty for not meeting the
schedule in time. The Managing Director convened an urgent meeting of various functional managers
to discuss the issue. The marketing manager questioned the arbitrary manner of giving priority to
products in manufacturing line, causing delays in wanted products and over-stocking of products
which are not required immediately. Production Control Manager complained that he does not have
adequate staff to plan and control the production function; and whatever little planning he does, is
generally overlooked by shop floor manager. Shop floor managers complained of unrealistic
planning, excessive machine breakdowns, power failure, and shortage of materials for scheduled
products because of which it is impossible to stick to the schedule. Maintenance manager says that he
does not get important spares required for equipment maintenance because of which he cannot repair
machines at a faster rate. Inventory control manager says that on one hand the company often accuses
him of carrying too much stock and on other hand people are grumbling over shortages. Fed up by
mutual mud-slinging, the Managing Director decided to appoint you, a bright management consultant
with training in business management to suggest ways and means to put his “house in order”.
Questions:-
1. What would you suggest to avoid delays in dispatch of products?
2. What action should be taken by various functional managers to meet the scheduled dates?
Caselet 2
Rajender Kumar was a production worker at competent Motors Limited (CML) which made
components and accessories for the automotive industry. He had worked at CML for almost seven
years as a welder, along with fifteen other men in the plant. All had received training in welding both
on the job and through company sponsored external programmes. They had friendly relations and got
along very well with one another. They played Volleyball in the playground regularly before retiring
to the quarters allotted by the company. They work together in the company canteen, cutting Jokes on
each other and making fun of everyone who dared to step into their privacy during lunch hour. Most
of the fellows had been there for some length of time, except for two men who had joined the ranks
only two months back. Rajender was generally considered to be the leader of the group, so it was no
surprise that when the foreman of the new was transferred and his job was posted, Rajender applied
for the job and got it.
There were only four other applicants for the job, two from mechanical section and two from outside,
when there was a formal announcement of the appointment on a Friday afternoon, everyone in the
group congratulated Rajender. They literally carried him on their shoulders, and bought him snacks
and celebrated. On Monday morning, Rajender joined duty as Foreman. It was company practice for
all foremen to wear blue jacket and a white shirt. Each man‟s coat had his name badge sewn onto the
left side pocket. The company had given two pairs to Rajender. He was proud to wear the coat to
work on Monday. People who saw him from a distance went up to him and admired the new blue
coat. There was a lot of kidding around calling Rajender as „Hero‟, „Raja Babu‟ and „Officer‟ etc.
One of the guys went back to his locker and returned with a long brush and acted as though he were
removing dust particles on the new coat. After about five minutes of horseplay, all the men went back
to work. Rajender went to his office to familiarize himself with the new job and environment. At
noon, all the men broke for Lunch and went to the canteen to eat and take a break as usual. Rajender
was busy when they left but followed after them a few minutes later. He bought the food coupon,
took the snacks and tea and turned to face the open canteen. On the left-side corner of the room was
his old work group; on the right-hand side of the canteen sat the other entire foreman in the plant—all
in their smart blue coats.
At that point of time, silence descended on the canteen. Both groups looked at Rajender anxiously,
waiting to see which group he would choose to eat with.
Questions:
1. Whom do you think Rajender will eat with? Why?
2. If you were one of the other foremen, what could you do to make Rajinder‟s transition easier?
END OF SECTION B
Section C: Applied Theory (30 Marks)
This section consists of Applied Theory Questions.
Answer all the questions.
Each question carries 15 marks.
Detailed information should form the part of your answer (Word limit 200 to 250 words).
1. What are Psychological games & why people play these games?
2. A good leader is not necessarily a good manager.” Discuss this statement & compare leadership
with management.
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