Quiz on Nature and Scope of Business Economics
#1. Which of the following statements does not apply to a market economy?
#2. Which of the following is a normative statement?
#3. A very large loan extended by a group of small banks to a single corporate borrower is called as which of the folowing?
#4. What implication(s) does resource scarcity have for the satisfaction of wants?
#5. The difference between positive and normative Economics is:
#6. Which of the following is a normative economic statement?
#7. The benefit of economic study is-
#8. Economic goods are considered scarce resources because they
#9. The economic system in which all the means production are owned and controlled by private individuals for profit.
#10. In Economics, the central economic problem means:
#11. Macroeconomics is also called ……….. economics.
#12. In a mixed economy
#13. There is need of economic study, because-
#14. Ram: My corn harvest this year is poor. Krishan: Don’t worry. Price increases will compensate for the fallin quantity supplied. Vinod: Climate affects crop yields. Some years are bad, others are good. Madhu: The Government ought to guarantee that our income will not fall. In this conversation, the normative statement is made by
#15. Consider the following and decide which, if any, economy is without scarcity:
#16. The definition “Science which deals with wealth of Nation'” was given by:
#17. Which of the following is not one of the four central questions that the study of economics is supposed to answer?
#18. …………. is also called as command economy
#19. Which of the following is not one of the features of capitalist economy?
#20. The central problem in economics is that of
#21. Macro Economics is the study of ………….
#22. Larger production of ……….. goods would lead to higher production in future.
#23. A study of how increases in the corporate income tax rate will affect the national unemployment rate is an example of
#24. Which of the following is considered as a disadvantage of allocating resources using the market system?
#25. Capital intensive technique would get chosen in a
#26. A capitalist economy uses …………… as the principal means of allocating resources.
#27. Mr. Satish hired a business consultant to guide him for growth of his business. The consultant visited his factory and suggested some changes with respect to staff appointment, loan availability and so on. Which approach is that consultant using’?
#28. An example of ‘positive’ economic analysis would be:
#29. Profit motive is a merit of
#30. Which of the following statements is incorrect?
#31. Administered prices refer to:
#32. Which of the following is not a subject matter of Micro-economies?
#33. Which of the following does not suggest a macro approach for India?
#34. Which of the following is not within the scope of Business Economics?
#35. Scarcity definition of Economics is given by-
#36. In Economics, we use the term scarcity to mean;
#37. In a free market economy the allocation of resources is determined by
#38. Which of the following statements is correct?
#39. In every economic system, scarcity imposes limitations on
#40. The branch of economic theory that deals with the problem of allocation of resources is
#41. The managerial economics
#42. Freedom of choice is the advantage of
#43. Exploitation and inequality are minimal under:
#44. Which of the following would be considered a topic of study in Macroeconomics?
#45. Which of the following is not the subject matter of Business Economics?
#46. Business Economics is
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