Following are some of the multiple choice questions on the Business economics with answers that will help the students in developing their knowledge.
Business economics MCQ
2. What is Opportunity Cost?
3. Economics is the study of
4. What is Business Studies?
6. Determinants of Elasticity of Demand
7. Who invented communism?
8. Expert Opinion method is also known as
9. When marginal utility from the consumption of a commodity is zero, then the:
10. Australia's biggest trading partner is ...
11. Indifference curves between income and leisure for an individual are generally:
12. When two goods are perfect complementary, the indifference curve is:
13. Total utility maximum when:
14. In this type of economy, the people decide the supply, demand, and price.
15. Total utility starts decreasing when --------------.
17. The father of Economics is
18. At equilibrium under ordinal approach the MRS should be equal to
19. Demand Function explain relationship between demand for Commodity and its___________.
20. Market situation where there is single seller. There is no close substitute and no free entry and exist. is refer as
21. "------------------ of demand is the proportional change of amount purchased in response to small change in price."
22. The driving force behind people going into business is
23. The economic problem is that
24. When the TU is maximum then MU is?
25. Capitalism is in what type of economy?
27. The business sector can be described as...
34. The economy is the total of all activities for the purpose of...
35. Demand Forecasting is also known as ________Forecasting
36. Demand Forecasting is base for estimating sales, production, overhead budgets.
37. The economic problems of relative scarcity refers to...
38. The financial sector can be described as...
39. Household demand is...
41. Gross Domestic Product (GDP) refers to
42. A budget constraints line is a result of:
44. Efficiency is producing the maximum possible output from available resources
45. Opportunity cost can be defined as...
46. The GFC was caused by.....
47. The four sectors in the economy are...
The household sector, financial sector, business sector & government sector
The household sector,tax sector,business sector, & government sector
The business sector, tax sector, household sector & financial sector
The financial sector, government sector, corporate sector, & household sector
48. Buyers choose what items are produced based on their spending habits
49. Marginal utility is a ------ Concept.
50. On which approach, indifference curve analysis is based?
Enjoyed the Quiz. Share this with friends