BCOM-Business Economics MCQ

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Question 1 : _____ refers to the integration of economic theory with business practice.

  1. Business economics
  2. Managerial economics
  3. business planning
  4. None of these
  

Question 2 : Business economies is now termed as _____.

  1. Managerial economics
  2. Business economics
  3. None of these
  4. business planning
  

Question 3 : Demand analysis and forecasting is essential for _____.

  1. Business economics
  2. business planning
  3. Managerial economics
  4. None of these
  

Question 4 : _____ is narrower in scope than cost analysis.

  1. Supply analysis
  2. Production analysis
  3. Demand analysis
  4. All of the above
  

Question 5 : _____ deals with various aspects of supply of a commodity.

  1. Production analysis
  2. None of these
  3. Supply analysis
  4. Demand analysis
  

Question 6 : As price generate income to the firm, _____ are important for business economics.

  1. pice fixation
  2. Production analysis
  3. pricing practices
  4. None of these
  

Question 7 : The price determination theories in different market conditions enable the firm to solve the _____ problems.

  1. Supply analysis
  2. pricing practices
  3. None of these
  4. pice fixation
  

Question 8 : The scope of business economics cover all major aspects of _____ analysis.

  1. macroeconomics
  2. microeconomic
  3. Business economic
  4. Indian economy
  

Question 9 : _____ enables the manger to become a more competent model builder.

  1. Indian economy
  2. Business economics
  3. macroeconomics
  4. microeconomic
  

Question 10 : _____ refers to the next best alternative foregone or sacrificed.

  1. Incremental cost
  2. Marginal cost
  3. Opportunity cost
  4. Average cost
  

Question 11 : The change in total cost resulting from a particular decision of the firm is refer as _____.

  1. Opportunity cost
  2. Average cost
  3. Incremental cost
  4. Marginal cost
  

Question 12 : The _____ measures the change in the dependent variable with respect to the change in the independent variable.

  1. marginal concept
  2. Cost analysis
  3. Production analysis
  4. None of these
  

Question 13 : _____ refers to a statement of equality of two expression or economic variables.

  1. Equations
  2. Averages
  3. Functional relation
  4. All of the above
  

Question 14 : _____ is the per unit value.

  1. Averages
  2. Equations
  3. Functional relation
  4. None of these
  

Question 15 : Business economics does not involve decision making process.

  1. true
  2. false
  

Question 16 : Business economics is the economics of business.

  1. true
  2. false
  

Question 17 : Business economics is applicable to several area of business.

  1. true
  2. false
  

Question 18 : There is no uniform pattern as regards to the scope of business economics.

  1. true
  2. false
  

Question 19 : Cost analysis is more significant than production analysis.

  1. true
  2. false
  

Question 20 : Market management is crucial for any business economics.

  1. true
  2. false
  

Question 21 : Capital mangement implies planning of capital expenditure.

  1. true
  2. false
  

Question 22 : Cost analysis is narrower in scope than production analysis.

  1. true
  2. false
  

Question 23 : Opportunity cost require ascertainment of sacrifices.

  1. true
  2. false
  

Question 24 : Incremental concept is closely related to the cost only.

  1. true
  2. false
  

Question 25 : Equation expresses two expression or variables.

  1. true
  2. false
  

Question 26 : Functional relationship is denoted by symbol P.

  1. true
  2. false
  

Question 27 : Total is the per unit value.

  1. true
  2. false
  

Question 28 : Many economic decisions depend on marginal analysis.

  1. true
  2. false
  

Question 29 : An exogenous variable is within an economic model.

  1. true
  2. false
  

Question 30 : Opportunity costs arise because resources are unlimited.

  1. true
  2. false
  

Question 31 : _____ is the economics of business or managerial decisions.

  1. Micro economics
  2. Macro economics
  3. Indian economy
  4. Business economics
  

Question 32 : _____ analysis helps to identity the various factors influencing the demand for a product.

  1. Supply
  2. Demand
  3. Production
  4. Cost
  

Question 33 : _____ cover topics such as cost concepts, methods of estimating costs etc.

  1. Production analysis
  2. Supply analysis
  3. Cost analysis
  4. Demand analysis
  

Question 34 : _____ is concerned with planning and control of capital expenditure.

  1. Capital management
  2. Profit management
  3. Market management
  4. None of these
  

Question 35 : opportunity cost is also called as _____ cost.

  1. Total
  2. Average
  3. Marginal
  4. Alternative
  

Question 36 : Incremental principle state that, a investment decision is profitable if _____.

  1. revenue increase more than costs
  2. cost reduce more than revenue
  3. both (a) and (b)
  4. None of these
  

Question 37 : The ratio of change in total revenue to a unit change in output sold is _____.

  1. Marginal revenue
  2. Marginal cost
  3. Average revenue
  4. Average cost
  

Question 38 : _____ explains the dependence of one variable on the other variable.

  1. Functional relation
  2. Equations
  3. Both (a) and (b)
  4. None of these
  

Question 39 : The sum of the dependent variable is _____.

  1. Total
  2. Average
  3. Marginal
  4. None of these
  

Question 40 : _____ involves a costbenefit comparison of various business activities.

  1. Cost analysis
  2. Production analysis
  3. Demand analysis
  4. Marginal analysis
  

Question 41 : _____ refers to the total demand for a commodity by all buyer in the market.

  1. Individual supply
  2. market supply
  3. Market demand
  4. Individual demand
  

Question 42 : The market demand schedule shows an _____ relationship between price and demand.

  1. direct
  2. No
  3. inverse
  4. none of these
  

Question 43 : The market demand curve slopes _____.

  1. upwards
  2. Horizontal
  3. Vertical
  4. downward
  

Question 44 : _____ refers to the total quantities of commodity offered for sale by all in producers.

  1. equilibrium price
  2. Market demand
  3. None of these
  4. market supply
  

Question 45 : When the market schedule is plotted on a graph we get _____ curve.

  1. Equilibrium point
  2. Market demand
  3. None of these
  4. market supply
  

Question 46 : The market supply curve slopes _____ to the right.

  1. downward
  2. upwards
  3. Vertical
  4. Horizontal
  

Question 47 : The _____ is determined by the interaction of market demand and supply.

  1. market price
  2. equilibrium point
  3. none of these
  

Question 48 : The point at which quantity demand equals to supply is the _____.

  1. equilibrium point
  2. none of these
  

Question 49 : With an increase in supply, demand remaining unchanged, the equilibrium price _____.

  1. raised
  2. falls
  3. constant
  4. none of these
  

Question 50 : Shift in the supply curve to the left will _____ the equilibrium price.

  1. no effect
  2. increase
  3. decreased
  4. none of these
  
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