WorksheetsBusiness Economics
Total questions: 25
Worksheet time: 13mins
Which of the following is a microeconomics statement ?
the real domestic output increased by 2.5 % last year
unemployment was 9.8% of the labour force last year
the price of wheat determines its demand
the general price level increased by 4% last year
Which theory is generally included under micro economics?
price theory
income theory
employment theory
trade theory
What theory is generally included under micro economics ?
price theory
income theory
employment theory
trade theory
What are the macro economics system ----
capitalistic
socialism
mixed
all the above
------- have exchange value and their ownership rights can be established and exchange
goods
service
markets
revenues
The actual value for elasticity of the demand of a product or service rages from
zero to infinity
one to infinity
zero to one
none of the above
Movement along the demand curve shows
expansion and contraction of demand
expansion of demand
contraction of demand
none of the above
The basic for the law of demand is related to -----
law of diminishing marginal utility
law of supply
law of equi-marginal utility
gossen's law
Elasticity of demand is equal to one indicates
unitary elasticity demand
perfectly elasticity demand
perfectly inelasticity demand
relatively elasticity demand
Increase in law of demand is caused by
increase in tax
higher subsidy
increase in interest rate
decline in population
Which concept are easily identified and can be traced to a particular product or service
fixed cost
outlay cost
direct cost
past cost
Which cost are the cash payment made by an entrepreneur to the suppliers of the various factor of production
economic cost
accounting cost
future cost
incremental cost
Which cost plays and important role in determining the optimum level of production
price cost
output cost
cost output
both A and B
Which relation between cost and output is technically described as the cost function of mathematically represented as
C=f+q
C=f-q
C=(q)
C= f x q
The short run is a time period in which
all resource are fixed
the level of out put is fixed
the size of the production plant is variable
some resource are fixed and others are variable
Sale forecast
change in sale change in sale mix
cost reduction policies
developing a rational capital expenditure policy
enhancing return on investment
The firm decides the expansion of production capacity
product planning
activity planning
profit planning
target capacity
Firm can decide the dividend to be fixed for their sharehoders
dividend decision
distribution decision
make or buy decision
safety margin
Purpose of profit planning
projected sales of the company
past profit record
present profit record
all the above
Planning guidelines
capital expenditure proposals
change needed in the level of working capital
limits on discretionary expenditure
all the above
Accreditation refers to
marketing assessment
ensuring quality
meeting standards
cost effective care
In which of the following methods of inventory control , is based on the rate of consumption
ABC analysis
HML analysis
FSN analysis
VED analysis
Crashing is
abandoning the project
completing the project with all the possible haste
reduction of duration for a few of the activities
reduction the cost of the project with all needful modifications
Types of cost capital
cost of equity capital
final approval
evaluation
all the above
Types of capital rationing
hard capital rationing
evaluation of projects
establishing priorities
all the above
