Business Economics MCQS With Answers 201 to 210

 

Business Economics

201. Factors which change over a long period of time are called ______________ factors

1. Business
2. Cyclic
3. Secular
4. All the above

Correct answer: (C)
Secular

202. ______________ is called produced means of production

1. Land
2. Labour
3. Capital
4. Raw material

Correct answer: (C)
Capital

203. EP = ______________ in the case of relatively elastic demand

1. 1
2. >1
3. <1
4. 0

Correct answer: (B)
>1

204. Demand for milk, sugar, tea for making tea, is an example of

1. Composite demand
2. Derivative demand
3. Joint demand
4. Direct demand

Correct answer: (C)
Joint demand

205. When the demand changes due to changes in other factors, like taste and preferences, income, price of related goods etc...., it is called

1. Extension of demand
2. Contraction of demand
3. Shift in demand
4. None of these

Correct answer: (C)
Shift in demand

206. Demand =Desires+ ______________ + willingness to pay

1. Supply
2. utility
3. Want
4. Purchasing power

Correct answer: (D)
Purchasing power

207. Basic economic tools of managerial economics include

1. Opportunity cost principle
2. Incremental principle
3. Discounting principle
4. All of the above

Correct answer: (D)
All of the above

208. Which of the following is not included in functions of managerial economists

1. Sales forecasting
2. Industrial market research
3. Advice on foreign exchange
4. None of the above

Correct answer: (D)
None of the above

209. Economics was classified into micro and macro by

1. Ragnar Frisch
2. Adam Smith
3. J M Keynes
4. AC Pigou

Correct answer: (A)
Ragnar Frisch

210. The author of the book "The General Theory of Employment, Interest and Money"

1. Alfred Marshall
2. Adam Smith
3. J M Keynes
4. A C Pigou

Correct answer: (C)
J M Keynes

Business Economics

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