ME Quiz 1

Father of economics?

• Adam smith

• Charles Babbage

• Martin Luther King

Economics is a________

• Science

• Social science

• Arts

Economics means_____

• Study of wealth of Nations

• Study of commerce

• Study of account

_____ is the primary function of economics.

• Financial study

• Maintaining rules

• Controlling on staff

Micro and macro economics are___________ of economics.

• Function

• Scope

• Objective

In economics cost control means_______

• Determining cost

• Decision of production

• Prepare plan for products

Economics gives a_________ to any business organisation.

• Objective

• Goals

• Directions

Management depends on______

• Economics

• Demand

• Business policies

The manager of a business organization is responsible for ?

• Decision making

• Educating people

• Looking for markets

• Earning social status

The break-even point is obtained by ?

• TC - TR > 0

• TC - TR < 0

• TC - TR = 0

• TC + TR = 0