Business Economics

Business Economics

University

10 Qs

quiz-placeholder

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Business Economics

Business Economics

Assessment

Quiz

Arts

University

Practice Problem

Hard

Created by

manoj kumar

Used 28+ times

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10 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Forward planning goes hand in hand with

decision making

capital 

stock

sales

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The famous book on economics “An Enquiry into the Nature and Cause of Wealth of     Nation” was written by 

Marshal

Ricardo

Robins

Adam smith

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Wealth definition of economics is given by  

J B Say  

Lionel Robbins  

Adam Smith

Alfred Marshall

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

If the income elasticity of demand is that one, the good is a

Necessity

Luxury

Substitute

Complement

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The income elasticity of demand is negative for a

complement good

normal good

superior good

inferior good

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What effect is working when the price of a good falls and consumers tend to buy it instead of other goods.

Income effect

Substitution effect

Price effect

complementary effect

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Two goods that are used jointly to provide satisfaction are called

Inferior goods

Normal goods

Complementary goods

Substitute goods

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