MEFA - Quiz-1.1: Managerial Economics

Business Economics is also known as

• MANAGERIAL ECONOMICS

• ECONOMICS FOR EXECUTIVES

• ECONOMIC ANALYSIS FOR BUSINESS DECISIONS

• ALL OF THE ABOVE

_______ is known as father of economics

• Marshal

• Robins

• Adam smith

• A C Pigou

Basic economic tools of managerial economics does not include

• Principle of time perspective

• Equi‐marginal principle

• Incremental principle

• None of these

Economics is a________

• Science

• Social science

• Arts

Economics means_____

• Study of wealth of Nations

• Study of commerce

• Study of account

Economic is a study of______

• Human behaviour

• Mathematics

• Community

_____ is the primary function of economics.

• Financial study

• Maintaining rules

• Controlling on staff

Micro and macro economics are___________ of economics.

• Function

• Scope

• Objective

Economics is very useful in any business organisation.

• True

• False

In economics cost control means_______

• Determining cost

• Decision of production

• Prepare plan for products