1. _____ refers to the integration of economic theory with business practice.
a. Business economics
b. Managerial economics
c. business planning
d. None of these
ANS: A
2. Business economies is now termed as _____.
a. Managerial economics
b. Business economics
c. None of these
d. business planning
ANS: A
3. Demand analysis and forecasting is essential for _____.
a. Business economics
b. business planning
c. Managerial economics
d. None of these
ANS: B
4. _____ is narrower in scope than cost analysis.
a. Supply analysis
b. Production analysis
c. Demand analysis
d. All of the above
ANS: B
5. _____ deals with various aspects of supply of a commodity.
a. Production analysis
b. None of these
c. Supply analysis
d. Demand analysis
ANS: C
6. As
price generate income to the firm, _____ are important for business economics.
a. pice fixation
b. Production analysis
c. pricing practices
d. None of these
ANS: C
7. The price determination theories in different market conditions enable the firm to solve the _____ problems.
a. Supply analysis
b. pricing practices
c. None of these
d. pice fixation
ANS: D
8. The scope of business economics cover all major aspects of _____ analysis.
a. macro–economics
b. micro–economic
c. Business economic
d. Indian economy
ANS: B
9. _____ enables the manger to become a more competent model builder.
a. Indian economy
b. Business economics
c. macro–economics
d. micro–economic
ANS: B
10. _____ refers to the next best alternative foregone or sacrificed.
a. Incremental cost
b. Marginal cost
c. Opportunity cost
d. Average cost
ANS: C
11. The change in total cost resulting from a particular decision of the firm is refer as _____.
a. Opportunity cost
b. Average cost
c. Incremental cost
d. Marginal cost
ANS: C
12. The _____ measures the change in the dependent variable with respect to the change in the independent variable.
a. marginal concept
b. Cost analysis
c. Production analysis
d. None of these
ANS: A
13. _____ refers to a statement of equality of two expression or economic variables.
a. Equations
b. Averages
c. Functional relation
d. All of the above
ANS: A
14. _____ is the per unit value.
a. Averages
b. Equations
c. Functional relation
d. None of these
ANS: A
15. _____ is the economics of business or managerial decisions.
a. Micro economics
b. Macro economics
c. Indian economy
d. Business economics
ANS: D
16. _____ analysis helps to identity the various factors influencing the demand for a product.
a. Supply
b. Demand
c. Production
d. Cost
ANS: B
17. _____ cover topics such as cost concepts, methods of estimating costs etc.
a. Production analysis
b. Supply analysis
c. Cost analysis
d. Demand analysis
ANS: C
18. _____ is concerned with planning and control of capital expenditure.
a. Capital management
b. Profit management
c. Market management
d. None of these
ANS: A
19. opportunity cost is also called as _____ cost.
a. Total
b. Average
c. Marginal
d. Alternative
ANS: B
20. Incremental principle state that, a investment decision is profitable if _____.
a. revenue increase more than costs
b. cost reduce more than revenue
c. both (a) and (b)
d. None of these
ANS: C
21. The ratio of change in total revenue to a unit change in output sold is _____.
a. Marginal revenue
b. Marginal cost
c. Average revenue
d. Average cost
ANS: A
22. _____ explains the dependence of one variable on the other variable.
a. Functional relation
b. Equations
c. Both (a) and (b)
d. None
of these
ANS: A
23. The sum of the dependent variable is _____.
a. Total
b. Average
c. Marginal
d. None of these
ANS: A
24. _____ involves a cost–benefit comparison of various business activities.
a. Cost analysis
b. Production analysis
c. Demand analysis
d. Marginal analysis
ANS: D
25. _____ refers to the total demand for a commodity by all buyer in the market.
a. Individual supply
b. market supply
c. Market demand
d. Individual demand
ANS: C
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