Business economics is also known as mcq

Business Economics Multiple choice Questions and Answers.
Page 1. 1.
Managerial Economics is 2.
The techniques of optimization include:

Business economics is best defined as the economic study of a) How maximum profit can be made in a business. b) How business can make maximum use of resources. c) How the problems of business can be solved. d) How most of the products can be sold. 73.
Price mechanism is based on supply and Demand.

Business Economics is micro / macro economics in nature. (Choose the correct answer) 33.
The mechanism of price determination by the free play of forces of demand and supply is knows as PRICE mechanism. ( Fill in the blank ) 34.
The marginal rate of technical substitution increases as more and more of one input is substituted for the other input.

1.
Business Economics is micro/macro economics in nature. 2.
Business Economics is also known as Managerial Economics. 3.
Give an example of Joint Demand. 4.
If marginal product is zero, how much will be the total product? 5.
Total revenue = Price x Quantity. 6.
Mention the type of market where a particular commodity is sold at uniform price. 7.

Business Economics Multiple choice Questions and Answers

In economics, desire backed by purchasing power is known as 4

Basic assumptions of law of demand include Prices of other goods should change

There should be substitute for the commodity