Question 1 : _____ refers to the integration of economic theory with business practice.
- Business economics
- Managerial economics
- business planning
- None of these
Question 2 : Business economies is now termed as _____.
- Managerial economics
- Business economics
- None of these
- business planning
Question 3 : Demand analysis and forecasting is essential for _____.
- Business economics
- business planning
- Managerial economics
- None of these
Question 4 : _____ is narrower in scope than cost analysis.
- Supply analysis
- Production analysis
- Demand analysis
- All of the above
Question 5 : _____ deals with various aspects of supply of a commodity.
- Production analysis
- None of these
- Supply analysis
- Demand analysis
Question 6 : As price generate income to the firm, _____ are important for business economics.
- pice fixation
- Production analysis
- pricing practices
- None of these
Question 7 : The price determination theories in different market conditions enable the firm to solve the _____ problems.
- Supply analysis
- pricing practices
- None of these
- pice fixation
Question 8 : The scope of business economics cover all major aspects of _____ analysis.
- macroeconomics
- microeconomic
- Business economic
- Indian economy
Question 9 : _____ enables the manger to become a more competent model builder.
- Indian economy
- Business economics
- macroeconomics
- microeconomic
Question 10 : _____ refers to the next best alternative foregone or sacrificed.
- Incremental cost
- Marginal cost
- Opportunity cost
- Average cost
Question 11 : The change in total cost resulting from a particular decision of the firm is refer as _____.
- Opportunity cost
- Average cost
- Incremental cost
- Marginal cost
Question 12 : The _____ measures the change in the dependent variable with respect to the change in the independent variable.
- marginal concept
- Cost analysis
- Production analysis
- None of these
Question 13 : _____ refers to a statement of equality of two expression or economic variables.
- Equations
- Averages
- Functional relation
- All of the above
Question 14 : _____ is the per unit value.
- Averages
- Equations
- Functional relation
- None of these
Question 15 : Business economics does not involve decision making process.
- true
- false
Question 16 : Business economics is the economics of business.
- true
- false
Question 17 : Business economics is applicable to several area of business.
- true
- false
Question 18 : There is no uniform pattern as regards to the scope of business economics.
- true
- false
Question 19 : Cost analysis is more significant than production analysis.
- true
- false
Question 20 : Market management is crucial for any business economics.
- true
- false
Question 21 : Capital mangement implies planning of capital expenditure.
- true
- false
Question 22 : Cost analysis is narrower in scope than production analysis.
- true
- false
Question 23 : Opportunity cost require ascertainment of sacrifices.
- true
- false
Question 24 : Incremental concept is closely related to the cost only.
- true
- false
Question 25 : Equation expresses two expression or variables.
- true
- false
Question 26 : Functional relationship is denoted by symbol P.
- true
- false
Question 27 : Total is the per unit value.
- true
- false
Question 28 : Many economic decisions depend on marginal analysis.
- true
- false
Question 29 : An exogenous variable is within an economic model.
- true
- false
Question 30 : Opportunity costs arise because resources are unlimited.
- true
- false
Question 31 : _____ is the economics of business or managerial decisions.
- Micro economics
- Macro economics
- Indian economy
- Business economics
Question 32 : _____ analysis helps to identity the various factors influencing the demand for a product.
- Supply
- Demand
- Production
- Cost
Question 33 : _____ cover topics such as cost concepts, methods of estimating costs etc.
- Production analysis
- Supply analysis
- Cost analysis
- Demand analysis
Question 34 : _____ is concerned with planning and control of capital expenditure.
- Capital management
- Profit management
- Market management
- None of these
Question 35 : opportunity cost is also called as _____ cost.
- Total
- Average
- Marginal
- Alternative
Question 36 : Incremental principle state that, a investment decision is profitable if _____.
- revenue increase more than costs
- cost reduce more than revenue
- both (a) and (b)
- None of these
Question 37 : The ratio of change in total revenue to a unit change in output sold is _____.
- Marginal revenue
- Marginal cost
- Average revenue
- Average cost
Question 38 : _____ explains the dependence of one variable on the other variable.
- Functional relation
- Equations
- Both (a) and (b)
- None of these
Question 39 : The sum of the dependent variable is _____.
- Total
- Average
- Marginal
- None of these
Question 40 : _____ involves a costbenefit comparison of various business activities.
- Cost analysis
- Production analysis
- Demand analysis
- Marginal analysis
Question 41 : _____ refers to the total demand for a commodity by all buyer in the market.
- Individual supply
- market supply
- Market demand
- Individual demand
Question 42 : The market demand schedule shows an _____ relationship between price and demand.
- direct
- No
- inverse
- none of these
Question 43 : The market demand curve slopes _____.
- upwards
- Horizontal
- Vertical
- downward
Question 44 : _____ refers to the total quantities of commodity offered for sale by all in producers.
- equilibrium price
- Market demand
- None of these
- market supply
Question 45 : When the market schedule is plotted on a graph we get _____ curve.
- Equilibrium point
- Market demand
- None of these
- market supply
Question 46 : The market supply curve slopes _____ to the right.
- downward
- upwards
- Vertical
- Horizontal
Question 47 : The _____ is determined by the interaction of market demand and supply.
- market price
- equilibrium point
- none of these
Question 48 : The point at which quantity demand equals to supply is the _____.
- equilibrium point
- none of these
Question 49 : With an increase in supply, demand remaining unchanged, the equilibrium price _____.
- raised
- falls
- constant
- none of these
Question 50 : Shift in the supply curve to the left will _____ the equilibrium price.
- no effect
- increase
- decreased
- none of these