Below given are top 35 important Economic Analysis for Business Decisions MCQ with Answers. These EABD Multiple Choice Questions are useful for MBA, MMS, BBA, PGDM, B Com, M Com, NET, SET, Ph D Entrance exams and other competitive exams.
Business economics is also known_______
A. Decisional Economics
B. Analytical Economics
C. Managerial Economics
D. Decision Science
View Answer
C. Managerial Economics
Economics is______
A. A positive science which deals with economics only
B. A negative science which deals with economical analysis only
C. Neither positive nor negative science but a normative science
D. An art or science depend upon uses – who uses, how uses and for what purpose
View Answer
D. An art or science depend upon uses – who uses, how uses and for what purpose
_________is the father of Economics.
A. Peter Drucker
B. Philip Kotler
C. Adam Smith
D. Michael Porter
View Answer
C. Adam Smith
Economics is a______
A. Positive Science
B. Relative Science
C. Normative Science
D. Both A & C
View Answer
D. Both A & C
The relationship between price and demand is______
A. Normative
B. Positive
C. Negative
D. Horizontal
View Answer
C. Negative
Law of demand shows ___________ between price and demand (Quantity Demanded).
A. Positive Relationship
B. Direct Relationship
C. Normative Relationship
D. Negative Relationship
View Answer
D. Negative Relationship
The formula (Potential price – Actual price) shows ______
A. Consumer Deficit
B. Consumer Surplus
C. Demand Supply Gap
D. Profit Gap
View Answer
B. Consumer Surplus
Economics is a ________ which deals with human wants and their satisfaction.
A. Natural Science
B. Social Science
C. Physical Science
D. Political Science
View Answer
B. Social Science
________is the branch of economics wherein mathematics and statistics are used to measure and analyse economics activities.
A. Econometrics
B. Econography
C. Statistical Economics
D. Ecotronics
View Answer
A. Econometrics
______is the opportunity cost of a machine which can produce only one product.
A. Low
B. Average
C. High
D. Zero
View Answer
A. Low
Economics is a study of mankind in the ordinary business of life. This definition is given by ______.
A. Lionel Robbins
B. Alfred Marshall
C. Adam smith
D. Samuelson
View Answer
B. Alfred Marshall
Normative economics is also known as_______
A. Decisional Economics
B. Positive Economics
C. Applied Economics
D. Prescriptive economics
View Answer
D. Prescriptive economics
Increase in national income indicates _______of an economy.
A. Loss
B. Stagnancy
C. Growth
D. Liability
View Answer
C. Growth
Accounting profit can be calculated using________ & explicit costs.
A. Total Revenue
B. Actual Costs
C. Implicit Costs
D. Exclusive Costs
View Answer
C. Implicit Costs
The word ‘economics’ comes from two ________words, ‘eco’ & ‘nomos’.
A. Latin
B. English
C. Greek
D. French
View Answer
C. Greek
Money Flow is also known as_______
A. Margin Flow
B. Profit Flow
C. Cash Flow
D. Income Flow
View Answer
D. Income Flow
________ is considered the father of modern economics.
A. Adam Smith
B. J M Keynes
C. Karl Marx
D. Warren Buffet
View Answer
A. Adam Smith
________ is know as the father of modern economics in India.
A. Amartya Sen
B. M. G. Ranade
C. Manmohan Singh
D. Raghuram Rajan
View Answer
B. M. G. Ranade
Product flow is also known as_______
A. Real Flow
B. Output Flow
C. Profit Flow
D. Both A & B
View Answer
D. Both A & B
_______is situation where a few large firms compete against each other and there is an element of interdependence in the decision-making of these firms.
A. Monopoly
B. Perfect Competition
C. Oligopoly
D. Duopoly
View Answer
C. Oligopoly
________is a market situation in which there is only one seller of a product with barriers to entry of others.
A. Monopoly
B. Oligopoly
C. Duopoly
D. Perfect Competition
View Answer
A. Monopoly
The term _______refers to a particular place where goods are purchased and sold.
A. Warehouse
B. Market
C. Infrastructure
D. Exchange
View Answer
B. Market
A large number of buyers and sellers in a homogeneous market, free entry and exit are the characteristics of ________
A. Duopoly
B. Oligopoly
C. Monopoly
D. Perfect Competition
View Answer
D. Perfect Competition
Demand for a commodity refers to______
A. Need for the commodity
B. Quantity of the commodity demanded at a certain price during any particular period of time
C. Desire for the commodity
D. Quantity demanded of that commodity
View Answer
B. Quantity of the commodity demanded at a certain price during any particular period of time
Demand for a commodity depends on________
A. Income
B. Price of related goods
C. Price of that commodity
D. All of the above
View Answer
D. All of the above
_______ the outflows in economic activities.
A. Savings
B. Investments
C. Government spending
D. Personal spending
View Answer
Savings
Market demand is aggregation of individual demand_______
A. Horizontally
B. Vertically
C. Diagonaly
D. Both A & B
View Answer
A. Horizontally
Accounting profit is equal to ________ Cost – Explicit Costs
A. Total
B. Implicit
C. Intrinsic
D. Total Revenue
View Answer
D. Total Revenue
A firm and industry are one and the same under_____
A. Monopoly
B. Duopoly
C. Oligopoly
D. Perfect Competition
View Answer
A. Monopoly
In case of perfect competition, elasticity will be _____
A. Infinite
B. 0
C. 2
D. 3
View Answer
A. Infinite
______ is not an economic cost.
A. Rents
B. Payments
C. Wages
D. Economic profits
View Answer
D. Economic profits
Implicit Cost added in ____ cost.
A. Economic
B. Accounting
C. Simple
D. None of the above
View Answer
B. Accounting
Full form of PV in Unit number one is _____
A. Past Value
B. Present Value
C. Perfect Value
D. Program Value
View Answer
B. Present Value
How many branches of economics are there?
A. 5
B. 2
C. 4
D. 3
View Answer
B. 2
______ is the central problem in economics.
A. Scarcity
B. Production
C. Revenue
D. Capital
View Answer
A. Scarcity
Indian economy is _______ type of economy.
A. Socialist
B. Socialist
C. Mixed
D. Idealistic
View Answer
C. Mixed
This is all about Economic Analysis for Business Decisions MCQ with answers.
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