MANAGERIAL ECON FINALS

MANAGERIAL ECON FINALS

University

21 Qs

quiz-placeholder

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MANAGERIAL ECON FINALS

MANAGERIAL ECON FINALS

Assessment

Quiz

Business

University

Practice Problem

Hard

Created by

rheamarkeith Onpoo

Used 23+ times

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21 questions

Show all answers

1.

FILL IN THE BLANK QUESTION

1 min • 5 pts

makes use of economic theory and concepts and helps in formulating logical managerial decisions. 

2.

MULTIPLE CHOICE QUESTION

20 sec • 5 pts

Managerial Economics is useful wherever there are scarce resources and it helps to ensure that managers make effective and efficient decisions concerning customers, suppliers, competitors as well as within an organization.

TRUE

FALSE

3.

FILL IN THE BLANK QUESTION

30 sec • 5 pts

It is a decision means the sacrifice of alternatives required by that decision.

If there are no sacrifices, there is no cost.

4.

FILL IN THE BLANK QUESTION

1 min • 5 pts

A competition in which a company considers all companies making the same product or class of products as its competitors is known as an_____

5.

FILL IN THE BLANK QUESTION

1 min • 5 pts

states that there is an inverse relationship between quantity demanded of a commodity and its price, other factors being constant.

6.

FILL IN THE BLANK QUESTION

1 min • 5 pts

is a diagrammatic representation of Demand Schedule.

It is a graphical representation of price-quantity relationship.

7.

MULTIPLE CHOICE QUESTION

1 min • 5 pts

state that as an individual consumes more and more units of a commodity, the utility derived from it goes on decreasing.

LAW OF DIMINISHING MARGINAL UTILITY

LAW OF SUPPLY

LAW OF DEMAND

LAW OF ECONOMICS

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