Answer these 300+ Business Economics MCQs and assess your grip on the subject of Business Economics.
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A. Adam smith
B. lionel robbins
C. Alfred Marshall
D. samuelson.
A. Micro economics
B. Wealth economics c
C. Macro economics
D. fiscal economics
A. Inductive method
B. General method
C. Deductive method
D. Partial method
A. A natural science
B. A social science
C. A political Science
D. A physical Science.
A. price theory
B. process theory
C. product theory
D. projection theory.
A. Maximization of total revenue from sales
B. minimization of cost of production
C. maximize profit from the business unit.
D. all the above
A. building of roads
B. charitable hospital
C. living wages
D. maintaining parks
A. amount of resources are given
B. prices of factors fluctuates
C. resources are not specific
D. Technology remains constant
A. it increases revenue more than costs.
B. it decreases some cost more than it increases others.
C. it increases costs more than revenue
D. it increases some revenues more than it decreases others.
A. administrative efficiency
B. entrepreneurial efficiency
C. managerial efficiency
D. technical efficiency
A. indirect
B. Inverse
C. Positive
D. Both a&b
A. Law of demand
B. Demand Curve
C. Demand schedule
D. Cross demand
A. Change in the quality of good
B. Change in the price of a good
C. Availability of cheaper substitutes
D. Increases in Income
A. upward to the right
B. downward to the right
C. horizontall
D. upward to the left
A. Demand remain constant
B. demand increases
C. Reduce the demand
D. Abnormal change in demand.
A. 0
B. 1
C. infinity
D. less than Zero
A. highly elastic
B. highly inelastic
C. unit elasticity
D. relatively inelastic
A. Price elasticity of demand
B. cross elasticity of demand
C. income elasticity of demand
D. none of these
A. are method
B. percentage method
C. point method
D. none of these
A. it is always negativ
B. it can be either positive or negative
C. it is always positive
D. it always lies between 0 and 1
A. the level of forecasting
B. time period
C. nature of goods
D. All the above
A. Trend analysis
B. consumer survey
C. Regression method
D. east square method
A. Delphi techniques
B. Multi collinearity
C. Simultaneous equation method
D. correlation.
A. leading series
B. coincident series
C. logging series
D. all the above
A. Endogenous variables
B. Undefined equation
C. Exogenous variables
D. Structural equations.
A. Law of demand
B. Law of variable proportion
C. Law of supply
D. None of the above
A. expands
B. falls
C. increases
D. unchanged.
A. rising
B. vertical
C. horizontal
D. falling
A. elastic supply
B. perfectly inelastic
C. elasticity of supply
D. unitary elastic supply.
A. Expansion of supply
B. Increase in supply
C. Contraction of supply
D. Decrease in supply
A. ordinal
B. Cardinal
C. both a &b
D. diminishing marginal utility
A. Marginal utilit
B. Total utilit
C. Average utility
D. maximum utility
A. Marginal utilit
B. Total utilit
C. Average utility
D. maximum utility
A. when marginal utility is positive
B. when it remains constant
C. when marginal utility is increasing
D. when marginal utility is negative.
A. indifference surplus
B. elasticity of supply
C. buyer’s surplus
D. indifference surplus.
A. Law of substitution b
B. Law of equal- marginal utility
C. Law of diminishing marginal
D. None of the above
A. Cardinal
B. Ordinal
C. Both a & b
D. Variable approach
A. Iso-cost curve.
B. Marginal utility curve.
C. Iso-quant.
D. Indifference curve.
A. Downward to the right
B. upward to the right
C. Downward to the left
D. Upward to the left.
A. capital of savings.
B. Mobilization of savings.
C. Investment of savings.
D. all of the above
A. Marketing economies
B. Financial economies.
C. Labour economies
D. All of the above.
A. Average cost curve.
B. Marginal cost curve.
C. Average fixed cost curve
D. Average variable cost curve
A. equilibrium point
B. split off point
C. point of inflexion
D. Break even point.
A. Horizontal line
B. Downward sloping.
C. U shaped
D. Upward sloping.
A. Cost of raw materials
B. Cost of machine.
C. Interest on capital.
D. rent payment for buildings
A. monopoly
B. oligopoly
C. perfect competition
D. monopolistic competition.
A. Oligopoly
B. monopoly
C. Duopoly
D. perfect competition
A. Water supply
B. Accessories
C. Gas supply
D. Electricity
A. Vertical
B. Upward sloping
C. horizontal
D. Downward sloping.A
A. TC, TR
B. MC, MR
C. AR, AC
D. TR, TFC.