managerial economics

managerial economics

University

20 Qs

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managerial economics

managerial economics

Assessment

Quiz

Other, Business, Specialty

University

Practice Problem

Easy

Created by

SRINITHI MEENAKSHI N

Used 2+ times

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20 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

What is Supply?

how much of a good will be offered for sale at a given time

How much of a good will be purchased

Distributing the goods

Marketing the Goods

2.

FILL IN THE BLANK QUESTION

1 min • 1 pt

What are the four basic economic questions?

3.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

The most important function in managerial economics     

Application of theory and concept

Decision making

Data gathering

Economic Analyzation

4.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Which of the following is not considered as a factor of production?     

money

machinery and equipment

land

unskilled labor

5.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Select the group that best represents the basic factors of production.     

land, labor, capital, entrepreneurship

land, labor, money, management skills

land, natural resources, labor, capital

land, labor, capital, technology

6.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Price elasticity of demand for a particular good is defined as

Percentage change in the price of the good for each percentage change in quantity demanded of the good

Percentage change in the quantity of the good for each percentage change in the price of the good

Change in the price of the good for each unit change in quantity demanded of the good

Change in the quantity of the good for each unit change in the price of the good

7.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

What are the functions of demand in Managerial Economics?

Regulatory compliance, employee training, financial reporting

Market segmentation, cost analysis, competitor analysis

Price determination, market forecasting, production planning, resource allocation, strategic decision-making

Customer service, advertising, inventory management

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