Managerial Economics
EXTRACTS FROM ATTEMPTED QUESTIONS AND ANSWERS
Multiple Choice Single Answer
Price of a product under perfect competition is determined by the interaction of
total supply and
Correct Answer : total demand
Your Answer : total demand
The type economic problem is
Correct Answer : universal
Your Answer : universal
An individual consumer or particular market for a given commodity are the
subject matter of
Correct Answer : Micro Economics
Your Answer : Micro Economics
Whether the economy's capacity to produce goods and services is growing from
year to year or remaining static is studied under the
Correct Answer : Theory of economic growth
Your Answer : Theory of economic growth
Expansion of supply is shown by the movement in the supply curve which is
Correct Answer : upward
Your Answer : upward
Every nation’s resources which are used to produce the quantities of goods and
services that would be required to satisfy all its citizen’s wants are
Correct Answer : insufficient
Your Answer : insufficient
The things that are produced by factors of production are called
Correct Answer : commodities
Your Answer : commodities
All the buyers and sellers operating under perfect competition have knowledge
which is
Correct Answer : perfect
Your Answer : perfect
The suggestion of maximization of balanced growth rate as another alternative
objective of a firm's profit is suggested by
Correct Answer : Prof. Morris
Your Answer : Baumol
,J.M. Keynes, on the basis of a fundamental psychological law of consumption,
observed that as income increases, consumption also increases, but
proportionately
Correct Answer : less
Your Answer : less
Often monopolies purposely keep certain factors of production idle creating
artificial scarcities of their products as a result the prices
Correct Answer : rise
Your Answer : rise
Managerial economics is also understood to refer to
Correct Answer : applied economics
Your Answer : applied economics
In economics the question related to the selection of methods with which
commodities are produced is a subject matter of
Correct Answer : theory of production
Your Answer : theory of production
In economics the questions related to the division of society’s output of goods
and services among its members are topics in
Correct Answer : theory of distribution
Your Answer : theory of distribution
In economics the questions related to the dynamic or static ( otherwise) capacity
of the economy to produce goods and services are topics in the
Correct Answer : theory of economic growth
Your Answer : theory of production
All the free gifts of nature which are commonly called natural resources are
known to economists as
Correct Answer : Land
Your Answer : capital
All the man made resources which are used in the process of making other
goods and services are called
Correct Answer : capital
Your Answer : labor
Managerial economics aims at providing help in the firms is
Correct Answer : decision making
Your Answer : decision making
An industry is a group of firms dealing in the same line of
Correct Answer : business
Your Answer : business
Economic Profit takes in to account the
Correct Answer : implicit cost
Your Answer : implicit cost
,Complementary goods are demanded
Correct Answer : jointly
Your Answer : separately
Under monopoly the demand curve slopes
Correct Answer : downward
Your Answer : downward
Dalal Street in Bombay is known as
Correct Answer : Bombay Stock Exchange
Your Answer : Bombay Stock Exchange
The city of Banaras has specialized in the manufacture of
Correct Answer : silk
Your Answer : silk
According to the Government, the buildup of inflationary pressure during the
Nineties was attributed to
Correct Answer : Higher Fiscal deficit
Your Answer : Higher Fiscal deficit
Managerial economics generally refers to the integration of economic theory with
business
Correct Answer : Practice
Your Answer : Practice
Every nation’s resources which are used to produce the quantities of goods and
services that would be required to satisfy all its citizen’s wants are
Correct Answer : insufficient
Your Answer : insufficient
Managerial economics is also understood to refer to
Correct Answer : applied economics
Your Answer : applied economics
The type economic problem is
Correct Answer : universal
Your Answer : universal
The act of making goods and services is called
Correct Answer : production
Your Answer : production
The act of using goods and services to satisfy wants is called
Correct Answer : consumption
Your Answer : consumption
The concept of just distribution of national product is a
Correct Answer : normative
Your Answer : objective
, In cost - benefit analysis, after the step of appraisal and selection of the project is
the step of
Correct Answer : comparison of the cash flow
Your Answer : comparison of the cash flow
According to many economists, the root cause of economic problem is
Correct Answer : scarcity
Your Answer : scarcity
Managerial economics aims at providing guidance to the firms for
Correct Answer : decision making
Your Answer : decision making
In case of a Joint-Stock Company, the liability of share holders is
Correct Answer : limited
Your Answer : limited
For an economist, Tata Eng & Locomotive Company Ltd is a
Correct Answer : firm
Your Answer : firm
The profit which is surplus of revenue over and above all paid out cost is
Correct Answer : Accounting Profit
Your Answer : Gross Profit
In economics, demand means desire backed by adequate
Correct Answer : purchasing power
Your Answer : purchasing power
When more units of a commodity are purchased in response to decline in price of
that commodity, it is called as expansion of
Correct Answer : demand
Your Answer : demand
Demand for products like tea, betel, tobacoo, sigaratte is a matter of
Correct Answer : habit
Your Answer : habit
If the substitutes are relatively cheaper then the demand for the commodity in
question will be
Correct Answer : less
Your Answer : less
Saving is a
Correct Answer : private virtue
Your Answer : social virtue
Economists call all human resources as
Correct Answer : labor
Your Answer : labor
EXTRACTS FROM ATTEMPTED QUESTIONS AND ANSWERS
Multiple Choice Single Answer
Price of a product under perfect competition is determined by the interaction of
total supply and
Correct Answer : total demand
Your Answer : total demand
The type economic problem is
Correct Answer : universal
Your Answer : universal
An individual consumer or particular market for a given commodity are the
subject matter of
Correct Answer : Micro Economics
Your Answer : Micro Economics
Whether the economy's capacity to produce goods and services is growing from
year to year or remaining static is studied under the
Correct Answer : Theory of economic growth
Your Answer : Theory of economic growth
Expansion of supply is shown by the movement in the supply curve which is
Correct Answer : upward
Your Answer : upward
Every nation’s resources which are used to produce the quantities of goods and
services that would be required to satisfy all its citizen’s wants are
Correct Answer : insufficient
Your Answer : insufficient
The things that are produced by factors of production are called
Correct Answer : commodities
Your Answer : commodities
All the buyers and sellers operating under perfect competition have knowledge
which is
Correct Answer : perfect
Your Answer : perfect
The suggestion of maximization of balanced growth rate as another alternative
objective of a firm's profit is suggested by
Correct Answer : Prof. Morris
Your Answer : Baumol
,J.M. Keynes, on the basis of a fundamental psychological law of consumption,
observed that as income increases, consumption also increases, but
proportionately
Correct Answer : less
Your Answer : less
Often monopolies purposely keep certain factors of production idle creating
artificial scarcities of their products as a result the prices
Correct Answer : rise
Your Answer : rise
Managerial economics is also understood to refer to
Correct Answer : applied economics
Your Answer : applied economics
In economics the question related to the selection of methods with which
commodities are produced is a subject matter of
Correct Answer : theory of production
Your Answer : theory of production
In economics the questions related to the division of society’s output of goods
and services among its members are topics in
Correct Answer : theory of distribution
Your Answer : theory of distribution
In economics the questions related to the dynamic or static ( otherwise) capacity
of the economy to produce goods and services are topics in the
Correct Answer : theory of economic growth
Your Answer : theory of production
All the free gifts of nature which are commonly called natural resources are
known to economists as
Correct Answer : Land
Your Answer : capital
All the man made resources which are used in the process of making other
goods and services are called
Correct Answer : capital
Your Answer : labor
Managerial economics aims at providing help in the firms is
Correct Answer : decision making
Your Answer : decision making
An industry is a group of firms dealing in the same line of
Correct Answer : business
Your Answer : business
Economic Profit takes in to account the
Correct Answer : implicit cost
Your Answer : implicit cost
,Complementary goods are demanded
Correct Answer : jointly
Your Answer : separately
Under monopoly the demand curve slopes
Correct Answer : downward
Your Answer : downward
Dalal Street in Bombay is known as
Correct Answer : Bombay Stock Exchange
Your Answer : Bombay Stock Exchange
The city of Banaras has specialized in the manufacture of
Correct Answer : silk
Your Answer : silk
According to the Government, the buildup of inflationary pressure during the
Nineties was attributed to
Correct Answer : Higher Fiscal deficit
Your Answer : Higher Fiscal deficit
Managerial economics generally refers to the integration of economic theory with
business
Correct Answer : Practice
Your Answer : Practice
Every nation’s resources which are used to produce the quantities of goods and
services that would be required to satisfy all its citizen’s wants are
Correct Answer : insufficient
Your Answer : insufficient
Managerial economics is also understood to refer to
Correct Answer : applied economics
Your Answer : applied economics
The type economic problem is
Correct Answer : universal
Your Answer : universal
The act of making goods and services is called
Correct Answer : production
Your Answer : production
The act of using goods and services to satisfy wants is called
Correct Answer : consumption
Your Answer : consumption
The concept of just distribution of national product is a
Correct Answer : normative
Your Answer : objective
, In cost - benefit analysis, after the step of appraisal and selection of the project is
the step of
Correct Answer : comparison of the cash flow
Your Answer : comparison of the cash flow
According to many economists, the root cause of economic problem is
Correct Answer : scarcity
Your Answer : scarcity
Managerial economics aims at providing guidance to the firms for
Correct Answer : decision making
Your Answer : decision making
In case of a Joint-Stock Company, the liability of share holders is
Correct Answer : limited
Your Answer : limited
For an economist, Tata Eng & Locomotive Company Ltd is a
Correct Answer : firm
Your Answer : firm
The profit which is surplus of revenue over and above all paid out cost is
Correct Answer : Accounting Profit
Your Answer : Gross Profit
In economics, demand means desire backed by adequate
Correct Answer : purchasing power
Your Answer : purchasing power
When more units of a commodity are purchased in response to decline in price of
that commodity, it is called as expansion of
Correct Answer : demand
Your Answer : demand
Demand for products like tea, betel, tobacoo, sigaratte is a matter of
Correct Answer : habit
Your Answer : habit
If the substitutes are relatively cheaper then the demand for the commodity in
question will be
Correct Answer : less
Your Answer : less
Saving is a
Correct Answer : private virtue
Your Answer : social virtue
Economists call all human resources as
Correct Answer : labor
Your Answer : labor
