Business Law - Explain the statement All Contracts are Agreement but all Agreements are not Contrac

Business Law

1. Explain the statement &ldquoAll Contracts are Agreement but all Agreements are not Contract&rdquo and provide two 2 examples demonstrating this statement.

2. Explain in details two 2 real-life instances or cases dealing with any or all &ldquoRights of Consumer&rdquo under Consumer Protection Act, 1986.

3. Jack and Jill are two individuals who have passed out from engineering college in Mumbai. Jack and Jill both have attained 18 years of age. Now both want to start a start-up for robotic services. Can you advise them:

a. What are i the different form of business, ii their pros and cons and iii what is best suited form of business which will be applicable to their start-up

b. Assuming that Jill lost both her parents when she was 5 years old and a court appointed a guardian for her. Then would there be any challenge in opening a start-up

BUSINESS ECONOMICS

1. The concept of elasticity for demand is importance for determining the prices of various factors of production. Discuss the various factors that influences the price elasticity of demand.

2. Complete the hypothetical table below and explain in brief, the behaviour of each type of cost. 10 Marks

Quantity

Total Fixed Cost

Total Cost

Total Cost

Average Fixed Cost

Average Cost

Average Total Cost

Marginal Cost

0

0

1

25

2

40

3

50

4

60

5

100

80

6

110

7

150

8

300

9

500

10

900

3. Demand forecasting in an organisations plays a vital role in business organisations.

It provides reasonable data for the organization 's capital investment and expansion decision.

a. Keeping the above statement in consideration. Discuss the various steps involved in demand forecasting.

b. Discuss the various needs for demand forecasting in business organisations