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Managerial Economics

Total questions: 20

Worksheet time: 10mins

Name
Class
Date
1.

Father of economics?

a)

Adam smith

b)

Charles Babbage

c)

Martin Luther King

2.

Economics is a________

a)

Science

b)

Social science

c)

Arts

3.

Economics means_____

a)

Study of wealth of Nations

b)

Study of commerce

c)

Study of account

4.

Economics is necessary for______

a)

Human resources management

b)

Any society

c)

Management

5.

Economic is a study of______

a)

Human behaviour

b)

Mathematics

c)

Community

6.

Micro and macro economics are___________ of economics.

a)

Function

b)

Scope

c)

Objective

7.

Economics is very useful in any business organisation.

a)

True

b)

False

8.

In economics cost control means_______

a)

Determining cost

b)

Decision of production

c)

Prepare plan for products

9.

Economics helps to understand taxation and government policies.

a)

True

b)

False

10.

Economics gives a_________ to any business organisation.

a)

Objective

b)

Goals

c)

Directions

11.

Economic helps to measurement ___________ of firm.

a)

Efficiency

b)

Demand

c)

Wealth

d)

All of these

12.

Management depends on______

a)

Economics

b)

Demand

c)

Business policies

13.

Managerial economics helps to management for finalising_____

a)

Financial issues

b)

Human resources

c)

Wealth of organisation

d)

All of these

14.

A rational consumer always tries to

a)

Minimise his/her utility

b)

Optimise his/her utility

c)

Maximise his/her utility

d)

None of the above

15.

Considered as Economics applied to "Problem of Choice".

a)

Applied Economics

b)

Managerial Economics

c)

Business Economics

d)

Decision Making

16.

It helps in covering the gap between the problems of logic and the problems of policy

a)

Applied Economics

b)

Managerial Economics

c)

Business Economics

d)

Decision Making

17.

The field of economics that deals with the economic concepts and analysis of problems that are required to formulate rational managerial decisions

a)

Positive Economics

b)

Normative Economics

c)

Macro Economics

d)

Managerial Economics

18.

Managerial Economics applies microeconomics theories and techniques in management decision.

a)

True

b)

False

19.

Managerial Economics basically comprises of two main divisions namely Microeconomics and Macroeconomics

a)

True

b)

False

20.

Microeconomics and managerial economics both encourage the use of quantitative methods to analyze economic data

a)

True

b)

False