Download - Managerial Economics (2)
![Page 1: Managerial Economics (2)](https://reader038.vdocument.in/reader038/viewer/2022103121/563dba27550346aa9aa329ea/html5/thumbnails/1.jpg)
QUIZ OF MANAGERIAL ECONOMICS
![Page 2: Managerial Economics (2)](https://reader038.vdocument.in/reader038/viewer/2022103121/563dba27550346aa9aa329ea/html5/thumbnails/2.jpg)
Q1-Adam Smith’s invisible hand is the ?a) Government policies
b) The bond market
c) The self regulating
d) Change in interest rates
![Page 3: Managerial Economics (2)](https://reader038.vdocument.in/reader038/viewer/2022103121/563dba27550346aa9aa329ea/html5/thumbnails/3.jpg)
Q1-Adam Smith’s invisible hand is the ?a) Government policies
b) The bond market
c) The self regulating
d) Change in interest rates
The right Answer is:c) the self regulating
![Page 4: Managerial Economics (2)](https://reader038.vdocument.in/reader038/viewer/2022103121/563dba27550346aa9aa329ea/html5/thumbnails/4.jpg)
Q2-The subject of economics is
a) A physical science
b) A natural science
c) An exact science
d) A social science
![Page 5: Managerial Economics (2)](https://reader038.vdocument.in/reader038/viewer/2022103121/563dba27550346aa9aa329ea/html5/thumbnails/5.jpg)
Q2-The subject of economics is
a) A physical science
b) A natural science
c) An exact science
d) A social science
The right Answer is :d) A social science
![Page 6: Managerial Economics (2)](https://reader038.vdocument.in/reader038/viewer/2022103121/563dba27550346aa9aa329ea/html5/thumbnails/6.jpg)
Q3-Wantlessness definition is given by:a) David Ricardo
b) J.S Mill
c) J.K Mehta
d) None of these
![Page 7: Managerial Economics (2)](https://reader038.vdocument.in/reader038/viewer/2022103121/563dba27550346aa9aa329ea/html5/thumbnails/7.jpg)
Q3-Wantlessness definition is given by:a) David Ricardo
b) J.S Mill
c) J.K Mehta
d) None of these
The right Answer is :c) J.K mehta
![Page 8: Managerial Economics (2)](https://reader038.vdocument.in/reader038/viewer/2022103121/563dba27550346aa9aa329ea/html5/thumbnails/8.jpg)
Q4-What does the outward slope in the production possibility curve show?
a) Scarcityb) Unlimited wantsc) Increasing opportunity costd) Unemployment
![Page 9: Managerial Economics (2)](https://reader038.vdocument.in/reader038/viewer/2022103121/563dba27550346aa9aa329ea/html5/thumbnails/9.jpg)
Q4-What does the outward slope in the production possibility curve show?
a) Scarcityb) Unlimited wants
c) Increasing opportunity costd) Unemployment
The right Answer is :c) Increasing opportunity cost
![Page 10: Managerial Economics (2)](https://reader038.vdocument.in/reader038/viewer/2022103121/563dba27550346aa9aa329ea/html5/thumbnails/10.jpg)
Q5. The terms Micro & Macro economics were introduced by?a) Adam Smithb) L. Robbinsc) Ragnar Frischd) J. N keynes
![Page 11: Managerial Economics (2)](https://reader038.vdocument.in/reader038/viewer/2022103121/563dba27550346aa9aa329ea/html5/thumbnails/11.jpg)
Q5. The terms Micro & Macro economics were introduced by?a) Adam Smithb) L. Robbinsc) Ragnar Frischd) J. N keynes
The right Answer is :c) Ragnar frisch
![Page 12: Managerial Economics (2)](https://reader038.vdocument.in/reader038/viewer/2022103121/563dba27550346aa9aa329ea/html5/thumbnails/12.jpg)
Q6.The centre of economic activity is:a) Choice of using unlimited resourcesb) Absence of choice of resourcesc) Wants are unlimited but resources are
scarced) Wants are limited
![Page 13: Managerial Economics (2)](https://reader038.vdocument.in/reader038/viewer/2022103121/563dba27550346aa9aa329ea/html5/thumbnails/13.jpg)
Q6.The centre of economic activity is:a) Choice of using unlimited resourcesb) Absence of choice of resourcesc) Wants are unlimited but resources are
scarced) Wants are limited
The right Answer is : d) Wants are unlimited but resources are scarce
![Page 14: Managerial Economics (2)](https://reader038.vdocument.in/reader038/viewer/2022103121/563dba27550346aa9aa329ea/html5/thumbnails/14.jpg)
Q.7 All of the following are sources of growth except:a) Growth of labourb) Growth of currency and capitalc) Growth of currencyd) Growth of capital
![Page 15: Managerial Economics (2)](https://reader038.vdocument.in/reader038/viewer/2022103121/563dba27550346aa9aa329ea/html5/thumbnails/15.jpg)
Q.7 All of the following are sources of growth except:a) Growth of labourb) Growth of currency and capitalc) Growth of currencyd) Growth of capital
The right Answer is :c) Growth of currency
![Page 16: Managerial Economics (2)](https://reader038.vdocument.in/reader038/viewer/2022103121/563dba27550346aa9aa329ea/html5/thumbnails/16.jpg)
Q8. Micro economics helps determine the following:
a) Equilibrium of the economy and firmb) Equilibrium of an industryc) Equilibrium of industry and individuald) Equilibrium of a firm
![Page 17: Managerial Economics (2)](https://reader038.vdocument.in/reader038/viewer/2022103121/563dba27550346aa9aa329ea/html5/thumbnails/17.jpg)
Q8. Micro econimics helps determine the following:a) Equilibrium of the economy and firmb) Equilibrium of an industryc) Equilibrium of industry and individuald) Equilibrium of a firm
The right Answer is :d) Equilibrium of a firm
![Page 18: Managerial Economics (2)](https://reader038.vdocument.in/reader038/viewer/2022103121/563dba27550346aa9aa329ea/html5/thumbnails/18.jpg)
Q9. A machine produces only one product. What will be its opportunity cost?a)Highb)Very highc)Lowd)infinite
![Page 19: Managerial Economics (2)](https://reader038.vdocument.in/reader038/viewer/2022103121/563dba27550346aa9aa329ea/html5/thumbnails/19.jpg)
Q9. A machine produces only one product. What will be its opportunity cost?a)Highb)Very highc)Lowd)infinite
The right Answer is :c) Low
![Page 20: Managerial Economics (2)](https://reader038.vdocument.in/reader038/viewer/2022103121/563dba27550346aa9aa329ea/html5/thumbnails/20.jpg)
Q10. Incremental reasoning considers a decision profitable when:a) IR= ICb) IR< ICc) IR> ICd) None of the above
![Page 21: Managerial Economics (2)](https://reader038.vdocument.in/reader038/viewer/2022103121/563dba27550346aa9aa329ea/html5/thumbnails/21.jpg)
Q10. Incremental reasoning considers a decision profitable when:a) IR= ICb) IR< ICc) IR> ICd) None of the above
The right Answer is :c) IR>IC
![Page 22: Managerial Economics (2)](https://reader038.vdocument.in/reader038/viewer/2022103121/563dba27550346aa9aa329ea/html5/thumbnails/22.jpg)
Q11. PVF refers to present value _____
a) Financeb) Forecastc) Fosterd) factor
![Page 23: Managerial Economics (2)](https://reader038.vdocument.in/reader038/viewer/2022103121/563dba27550346aa9aa329ea/html5/thumbnails/23.jpg)
Q11. PVF refers to present value _____.
a) Financeb) Forecastc) Fosterd) factor
The right Answer is :d) factor
![Page 24: Managerial Economics (2)](https://reader038.vdocument.in/reader038/viewer/2022103121/563dba27550346aa9aa329ea/html5/thumbnails/24.jpg)
Q12. Full employment is a situation in which ____ unemployment is reduced to the minimum possible level .
a) Seasonalb) Voluntary c) Frictionald) involuntary
![Page 25: Managerial Economics (2)](https://reader038.vdocument.in/reader038/viewer/2022103121/563dba27550346aa9aa329ea/html5/thumbnails/25.jpg)
Q12. Full employment is a situation in which ____ unemployment is reduced to the minimum possible level .
a) Seasonalb) Voluntary c) Frictionald) involuntary
The right Answer is :d) Involuntary
![Page 26: Managerial Economics (2)](https://reader038.vdocument.in/reader038/viewer/2022103121/563dba27550346aa9aa329ea/html5/thumbnails/26.jpg)
Q13. The PPC is also know as _____ curve.a) formationb) transformation c) Frictionald) structural
![Page 27: Managerial Economics (2)](https://reader038.vdocument.in/reader038/viewer/2022103121/563dba27550346aa9aa329ea/html5/thumbnails/27.jpg)
Q13. The PPC is also know as _____ curve.
The right Answer is :d) Transformation
a) formationb) transformation c) Frictionald) structural
![Page 28: Managerial Economics (2)](https://reader038.vdocument.in/reader038/viewer/2022103121/563dba27550346aa9aa329ea/html5/thumbnails/28.jpg)
Q14. _____ is the father of economics.
a) Prof. vinerb) L.robbins c) Adam smithd) Alfred marshal
![Page 29: Managerial Economics (2)](https://reader038.vdocument.in/reader038/viewer/2022103121/563dba27550346aa9aa329ea/html5/thumbnails/29.jpg)
Q14. _____ is the father of economics.
The right Answer is :c) Adam Smith
a) Prof. vinerb) L.Robbins c) Adam smithd) Alfred marshal
![Page 30: Managerial Economics (2)](https://reader038.vdocument.in/reader038/viewer/2022103121/563dba27550346aa9aa329ea/html5/thumbnails/30.jpg)
Q15. the word economics is derived from greek word oikos which means _____ and nomikos which means _____.
a) Household b) Decisionc) Managementd) Planning
![Page 31: Managerial Economics (2)](https://reader038.vdocument.in/reader038/viewer/2022103121/563dba27550346aa9aa329ea/html5/thumbnails/31.jpg)
Q15. the word economics is derived from greek word oikos which means _____ and nomikos which means _____.
The right Answer is :a) Household c) Management
a) Household b) Decisionc) Managementd) Planning
![Page 32: Managerial Economics (2)](https://reader038.vdocument.in/reader038/viewer/2022103121/563dba27550346aa9aa329ea/html5/thumbnails/32.jpg)
Q16. Theory of exchange is also known as ______.
a) Profit theoryb) Price theoryc) Demand theoryd) Exchange theory
![Page 33: Managerial Economics (2)](https://reader038.vdocument.in/reader038/viewer/2022103121/563dba27550346aa9aa329ea/html5/thumbnails/33.jpg)
Q16. Theory of exchange is also known as ______.
The right Answer is :
b) Price theory
a) Profit theoryb) Price theoryc) Demand theoryd) Exchange theory
![Page 34: Managerial Economics (2)](https://reader038.vdocument.in/reader038/viewer/2022103121/563dba27550346aa9aa329ea/html5/thumbnails/34.jpg)
Q17. Welfare definition of economics is given by _____.a) David Richardb) J.S Millc) Alfred Marshald) KG Seth
![Page 35: Managerial Economics (2)](https://reader038.vdocument.in/reader038/viewer/2022103121/563dba27550346aa9aa329ea/html5/thumbnails/35.jpg)
Q17. Welfare definition of economics is given by _____.
The right Answer is :
c) Alfred Marshal
a) David Richardb) J.S Millc) Alfred Marshald) KG Seth
![Page 36: Managerial Economics (2)](https://reader038.vdocument.in/reader038/viewer/2022103121/563dba27550346aa9aa329ea/html5/thumbnails/36.jpg)
Q18. Application of economics to solve business problems is _____ economics.
a) Microb) Positivec) Manageriald) Partial
![Page 37: Managerial Economics (2)](https://reader038.vdocument.in/reader038/viewer/2022103121/563dba27550346aa9aa329ea/html5/thumbnails/37.jpg)
Q18. Application of economics to solve business problems is _____ economics.
The right Answer is :c) Managerial
a) Microb) Positivec) Manageriald) Partial
![Page 38: Managerial Economics (2)](https://reader038.vdocument.in/reader038/viewer/2022103121/563dba27550346aa9aa329ea/html5/thumbnails/38.jpg)
Q19. _____ is a state of balance that occur in a model.a) Alternative b) Equiryc) Equilibriumd) Partial
![Page 39: Managerial Economics (2)](https://reader038.vdocument.in/reader038/viewer/2022103121/563dba27550346aa9aa329ea/html5/thumbnails/39.jpg)
Q19. _____ is a state of balance that occur in a model.
The right Answer is :c) Equilibrium
a) Alternative b) Equiryc) Equilibriumd) Partial
![Page 40: Managerial Economics (2)](https://reader038.vdocument.in/reader038/viewer/2022103121/563dba27550346aa9aa329ea/html5/thumbnails/40.jpg)
Q20. Managerial economics is a scope of :
a) Theory of exchangeb) Social issuesc) Environment Issuesd) Both a and c
![Page 41: Managerial Economics (2)](https://reader038.vdocument.in/reader038/viewer/2022103121/563dba27550346aa9aa329ea/html5/thumbnails/41.jpg)
Q20. Managerial economics is a scope of :
a) Theory of exchangeb) Social issuesc) Environment Issuesd) Both a and c
The right Answer is :d) Both a and c
![Page 42: Managerial Economics (2)](https://reader038.vdocument.in/reader038/viewer/2022103121/563dba27550346aa9aa329ea/html5/thumbnails/42.jpg)
Q21. PPC is _____ sloping curve.a) Upwardb) Downward c) Lateral d) Horizontal
![Page 43: Managerial Economics (2)](https://reader038.vdocument.in/reader038/viewer/2022103121/563dba27550346aa9aa329ea/html5/thumbnails/43.jpg)
Q21. PPC is _____ sloping curve.
The right Answer is :b) Downward
a) Upwardb) Downward c) Lateral d) Horizontal
![Page 44: Managerial Economics (2)](https://reader038.vdocument.in/reader038/viewer/2022103121/563dba27550346aa9aa329ea/html5/thumbnails/44.jpg)
Q22. Two assumptions of economics are ______ and ______.
a) Cetrus paribus b) Rationality c) All of the aboved) None of the above
![Page 45: Managerial Economics (2)](https://reader038.vdocument.in/reader038/viewer/2022103121/563dba27550346aa9aa329ea/html5/thumbnails/45.jpg)
Q22. Two assumptions of economics are ______ and ______.
The right Answer is :c) All of the above
a) Cetrus paribus b) Rationality c) All of the aboved) None of the above
![Page 46: Managerial Economics (2)](https://reader038.vdocument.in/reader038/viewer/2022103121/563dba27550346aa9aa329ea/html5/thumbnails/46.jpg)
Q 23. Human wants are unlimited but human capacity to satisfy such want is limited. This concept is known as ______.
a) Scarcity b) Wealth c) wantlessnessd) Welfare
![Page 47: Managerial Economics (2)](https://reader038.vdocument.in/reader038/viewer/2022103121/563dba27550346aa9aa329ea/html5/thumbnails/47.jpg)
Q 23. Human wants are unlimited but human capacity to satisfy such want is limited. This concept is known as ______.
The right Answer is :a) Scarcity
a) Scarcity b) Wealth c) wantlessnessd) Welfare
![Page 48: Managerial Economics (2)](https://reader038.vdocument.in/reader038/viewer/2022103121/563dba27550346aa9aa329ea/html5/thumbnails/48.jpg)
Q24.MCn = TCn - ____.
a) TCn-3b) TCn-0c) TCn-1d) TCn-2
![Page 49: Managerial Economics (2)](https://reader038.vdocument.in/reader038/viewer/2022103121/563dba27550346aa9aa329ea/html5/thumbnails/49.jpg)
Q24.MCn = TCn - ____.
The right Answer is :c) TCn-1
a) TCn-3b) TCn-0c) TCn-1d) TCn-2
![Page 50: Managerial Economics (2)](https://reader038.vdocument.in/reader038/viewer/2022103121/563dba27550346aa9aa329ea/html5/thumbnails/50.jpg)
Q25. ______ principle refers to the time value of money.
a) Dimnishing b) Additional c) Discounting d) Commodities
![Page 51: Managerial Economics (2)](https://reader038.vdocument.in/reader038/viewer/2022103121/563dba27550346aa9aa329ea/html5/thumbnails/51.jpg)
Q25. ______ principle refers to the time value of money.
The right Answer is :
c) Discounting
a) Dimnishing b) Additional c) Discounting d) Commodities
![Page 52: Managerial Economics (2)](https://reader038.vdocument.in/reader038/viewer/2022103121/563dba27550346aa9aa329ea/html5/thumbnails/52.jpg)
Q26. What are the kinds of economic decisions?
![Page 53: Managerial Economics (2)](https://reader038.vdocument.in/reader038/viewer/2022103121/563dba27550346aa9aa329ea/html5/thumbnails/53.jpg)
The right Answer is:What to Produce?How to produce?For whom to produce?
![Page 54: Managerial Economics (2)](https://reader038.vdocument.in/reader038/viewer/2022103121/563dba27550346aa9aa329ea/html5/thumbnails/54.jpg)
Q27. Positive economics analysis problems on the basis of facts.True or False
![Page 55: Managerial Economics (2)](https://reader038.vdocument.in/reader038/viewer/2022103121/563dba27550346aa9aa329ea/html5/thumbnails/55.jpg)
The right Answer is :True
![Page 56: Managerial Economics (2)](https://reader038.vdocument.in/reader038/viewer/2022103121/563dba27550346aa9aa329ea/html5/thumbnails/56.jpg)
Q28. opportunity cost is same as economic cost.True or false
![Page 57: Managerial Economics (2)](https://reader038.vdocument.in/reader038/viewer/2022103121/563dba27550346aa9aa329ea/html5/thumbnails/57.jpg)
The right Answer is:false
![Page 58: Managerial Economics (2)](https://reader038.vdocument.in/reader038/viewer/2022103121/563dba27550346aa9aa329ea/html5/thumbnails/58.jpg)
Q29.a producer can change his product line in the short run.True or false
![Page 59: Managerial Economics (2)](https://reader038.vdocument.in/reader038/viewer/2022103121/563dba27550346aa9aa329ea/html5/thumbnails/59.jpg)
The right Answer is :false
![Page 60: Managerial Economics (2)](https://reader038.vdocument.in/reader038/viewer/2022103121/563dba27550346aa9aa329ea/html5/thumbnails/60.jpg)
Q30. Outflow and Inflow of money and resources in business take place at different points of time.True or false
![Page 61: Managerial Economics (2)](https://reader038.vdocument.in/reader038/viewer/2022103121/563dba27550346aa9aa329ea/html5/thumbnails/61.jpg)
The right Answer is:true
![Page 62: Managerial Economics (2)](https://reader038.vdocument.in/reader038/viewer/2022103121/563dba27550346aa9aa329ea/html5/thumbnails/62.jpg)
Q31. The most important aspects of decision sciences that are used in managerial economics
include all of these except:
a) Numerical and algebraic analysisb) Optimizationc) Game theoryd) Opportunity cost
![Page 63: Managerial Economics (2)](https://reader038.vdocument.in/reader038/viewer/2022103121/563dba27550346aa9aa329ea/html5/thumbnails/63.jpg)
Q31. The most important aspects of decision sciences that are used in managerial economics
include all of these except:
a) Numerical and algebraic analysisb) Optimizationc) Game theoryd) Opportunity cost
The right Answer is: d) Opportunity cost
![Page 64: Managerial Economics (2)](https://reader038.vdocument.in/reader038/viewer/2022103121/563dba27550346aa9aa329ea/html5/thumbnails/64.jpg)
Q32. The problem with the marginal concept is thata) Change in variable may not be in bulk b) Change in variable may not be in single unitc) Outflow and inflow of resources may not be
equald) None of these
![Page 65: Managerial Economics (2)](https://reader038.vdocument.in/reader038/viewer/2022103121/563dba27550346aa9aa329ea/html5/thumbnails/65.jpg)
Q32. The problem with the marginal concept is thata) Change in variable may not be in bulk b) Change in variable may not be in single unitc) Outflow and inflow of resources may not be
equald) None of these
The right Answer is :b) Change in variable may not be in single unit.
![Page 66: Managerial Economics (2)](https://reader038.vdocument.in/reader038/viewer/2022103121/563dba27550346aa9aa329ea/html5/thumbnails/66.jpg)
Q33. The assumptions behind PPC include :a) Variable supply of Factor of Production b) Allocation of factors inputs to a single unitc) Both a and bd) Full employment of economy
![Page 67: Managerial Economics (2)](https://reader038.vdocument.in/reader038/viewer/2022103121/563dba27550346aa9aa329ea/html5/thumbnails/67.jpg)
Q33. The assumptions behind PPC include :a) Variable supply of Factor of Production b) Allocation of factors inputs to a single unitc) Both a and bd) Full employment of economy
The right Answer is :d) Full employment of economy
![Page 68: Managerial Economics (2)](https://reader038.vdocument.in/reader038/viewer/2022103121/563dba27550346aa9aa329ea/html5/thumbnails/68.jpg)
Q34.Which of the problems can be solved by managerial economics.a) Investment decisionb) Pricing problemc) Resource allocationd) All of the above
![Page 69: Managerial Economics (2)](https://reader038.vdocument.in/reader038/viewer/2022103121/563dba27550346aa9aa329ea/html5/thumbnails/69.jpg)
Q34.Which of the problems can be solved by managerial economics.a) Investment decisionb) Pricing problemc) Resource allocationd) All of the above
The right Answer is :d) All of the above
![Page 70: Managerial Economics (2)](https://reader038.vdocument.in/reader038/viewer/2022103121/563dba27550346aa9aa329ea/html5/thumbnails/70.jpg)
Q35. What is the outward slope in the PPC show?a) Scarcityb) Unlimited wantsc) Increasing opportunity costd) Unemployment
![Page 71: Managerial Economics (2)](https://reader038.vdocument.in/reader038/viewer/2022103121/563dba27550346aa9aa329ea/html5/thumbnails/71.jpg)
Q35. What is the outward slope in the PPC show?a) Scarcityb) Unlimited wantsc) Increasing opportunity costd) Unemployment
The right Answer is :c) Increasing opportunity cost
![Page 72: Managerial Economics (2)](https://reader038.vdocument.in/reader038/viewer/2022103121/563dba27550346aa9aa329ea/html5/thumbnails/72.jpg)
Q36. IC stands for ____ and IR stands for _____.
a) Individual costb) Incremental costc) Individual revenued) Incremental revenue
![Page 73: Managerial Economics (2)](https://reader038.vdocument.in/reader038/viewer/2022103121/563dba27550346aa9aa329ea/html5/thumbnails/73.jpg)
Q36. IC stands for ____ and IR stands for _____.
The right Answer is :b) Incremental costd)Incremental Revenue
a) Individual costb) Incremental costc) Individual revenued) Incremental revenue
![Page 74: Managerial Economics (2)](https://reader038.vdocument.in/reader038/viewer/2022103121/563dba27550346aa9aa329ea/html5/thumbnails/74.jpg)
Q37. The profit of a firm is expressed in simple term is:a) Profit = MC – MRb) Profit= TR – TCc) Profit= TC – Salesd) Profit= TR- MR
![Page 75: Managerial Economics (2)](https://reader038.vdocument.in/reader038/viewer/2022103121/563dba27550346aa9aa329ea/html5/thumbnails/75.jpg)
Q37. The profit of a firm is expressed in simple term is:a) Profit = MC – MRb) Profit= TR – TCc) Profit= TC – Salesd) Profit= TR- MR
The right Answer is :b) Profit= TR – TC
![Page 76: Managerial Economics (2)](https://reader038.vdocument.in/reader038/viewer/2022103121/563dba27550346aa9aa329ea/html5/thumbnails/76.jpg)
Q38. MC and MR are always defined in the term of ______.a) Unit change in outputb) Unit change in factorc) Unit change in total costd) None of the above
![Page 77: Managerial Economics (2)](https://reader038.vdocument.in/reader038/viewer/2022103121/563dba27550346aa9aa329ea/html5/thumbnails/77.jpg)
Q38. MC and MR are always defined in the term of ______.a) Unit change in outputb) Unit change in factorc) Unit change in total costd) None of the above
The right Answer is :a) Unit change in output
![Page 78: Managerial Economics (2)](https://reader038.vdocument.in/reader038/viewer/2022103121/563dba27550346aa9aa329ea/html5/thumbnails/78.jpg)
Q39. The centre of economic activity is:a) Choice of using unlimited resourcesb) Absence of choice of resourcesc) Wants are limited but resource are
abundantd) Wants are unlimited but resources are
scarce
![Page 79: Managerial Economics (2)](https://reader038.vdocument.in/reader038/viewer/2022103121/563dba27550346aa9aa329ea/html5/thumbnails/79.jpg)
Q39. The centre of economic activity is:a) Choice of using unlimited resources
b) Absence of choice of resources
c) Wants are limited but resource are abundant
d) Wants are unlimited but resources are scarce
The right Answer is :d) Wants are unlimited but resources are scarce
![Page 80: Managerial Economics (2)](https://reader038.vdocument.in/reader038/viewer/2022103121/563dba27550346aa9aa329ea/html5/thumbnails/80.jpg)
Q40. Utility is measured in ______.a) Satisfaction b) Dissatisfactionc) Utils d) Money
![Page 81: Managerial Economics (2)](https://reader038.vdocument.in/reader038/viewer/2022103121/563dba27550346aa9aa329ea/html5/thumbnails/81.jpg)
Q40. Utility is measured in ______.
The right Answer is :
c) Utils
a) Satisfaction b) Dissatisfactionc) Utils d) Money
![Page 82: Managerial Economics (2)](https://reader038.vdocument.in/reader038/viewer/2022103121/563dba27550346aa9aa329ea/html5/thumbnails/82.jpg)
Q41.What is the opportunity cost of opting for higher studies rather than a job?
![Page 83: Managerial Economics (2)](https://reader038.vdocument.in/reader038/viewer/2022103121/563dba27550346aa9aa329ea/html5/thumbnails/83.jpg)
The right Answer is: It is the amount of wage/salary the person would have earn a job.
![Page 84: Managerial Economics (2)](https://reader038.vdocument.in/reader038/viewer/2022103121/563dba27550346aa9aa329ea/html5/thumbnails/84.jpg)
Q42.What is the biggest economic problem?
a) Resources are scarceb) Wants are unlimitedc) Resources have alternative usesd) All of the above
![Page 85: Managerial Economics (2)](https://reader038.vdocument.in/reader038/viewer/2022103121/563dba27550346aa9aa329ea/html5/thumbnails/85.jpg)
Q42.What is the biggest economic problem?
a) Resources are scarceb) Wants are unlimitedc) Resources have alternative usesd) All of the above
The right Answer is :d) All of the above
![Page 86: Managerial Economics (2)](https://reader038.vdocument.in/reader038/viewer/2022103121/563dba27550346aa9aa329ea/html5/thumbnails/86.jpg)
Q43.If resources are increased PPC curve will shift to?
a) Rightb) Leftc) Will not shiftd) None of the above
![Page 87: Managerial Economics (2)](https://reader038.vdocument.in/reader038/viewer/2022103121/563dba27550346aa9aa329ea/html5/thumbnails/87.jpg)
Q43.If resources are increased PPC curve will shift to?
a) Rightb) Leftc) Will not shiftd) None of the above
The right Answer is :a) right
![Page 88: Managerial Economics (2)](https://reader038.vdocument.in/reader038/viewer/2022103121/563dba27550346aa9aa329ea/html5/thumbnails/88.jpg)
Q44.PPC curve is ______ to the point of origin?a) Convex b) Positive concavec) Concave d) Positive convex
![Page 89: Managerial Economics (2)](https://reader038.vdocument.in/reader038/viewer/2022103121/563dba27550346aa9aa329ea/html5/thumbnails/89.jpg)
Q44.PPC curve is ______ to the point of origin?a) Convex b) Positive concavec) Concave d) Positive convex
The right Answer is :a) Conave
![Page 90: Managerial Economics (2)](https://reader038.vdocument.in/reader038/viewer/2022103121/563dba27550346aa9aa329ea/html5/thumbnails/90.jpg)
Q45. Managerial economics is concerned with _____ and ____?a) Decision makingb) Cetrus paribus c) Forward planningd) Rationality
![Page 91: Managerial Economics (2)](https://reader038.vdocument.in/reader038/viewer/2022103121/563dba27550346aa9aa329ea/html5/thumbnails/91.jpg)
Q45. Managerial economics is concerned with _____ and ____?a) Decision makingb) Cetrus paribus c) Forward planningd) Rationality
The right Answer is:a) Decision making c) Forward planning
![Page 92: Managerial Economics (2)](https://reader038.vdocument.in/reader038/viewer/2022103121/563dba27550346aa9aa329ea/html5/thumbnails/92.jpg)
Q46.Which is not vital component of microeconomics?
a) Theory of consumer behaviourb) Theory of pricec) Theory of producer behaviourd) Theory of multiplier
![Page 93: Managerial Economics (2)](https://reader038.vdocument.in/reader038/viewer/2022103121/563dba27550346aa9aa329ea/html5/thumbnails/93.jpg)
Q46.Whichis not vital component of microeconomics?
a) Theory of consumer behaviourb) Theory of pricec) Theory of producer behaviourd) Theory of multiplier
The right Answer is :d) Theory of multipler
![Page 94: Managerial Economics (2)](https://reader038.vdocument.in/reader038/viewer/2022103121/563dba27550346aa9aa329ea/html5/thumbnails/94.jpg)
Q47.PPC is also known as production possibility frontier?True or False
![Page 95: Managerial Economics (2)](https://reader038.vdocument.in/reader038/viewer/2022103121/563dba27550346aa9aa329ea/html5/thumbnails/95.jpg)
The right Answer is: True
![Page 96: Managerial Economics (2)](https://reader038.vdocument.in/reader038/viewer/2022103121/563dba27550346aa9aa329ea/html5/thumbnails/96.jpg)
Q48.Economic activities include?a) Investmentb) Consumptionc) Both a and bd) None of the above
![Page 97: Managerial Economics (2)](https://reader038.vdocument.in/reader038/viewer/2022103121/563dba27550346aa9aa329ea/html5/thumbnails/97.jpg)
Q48.Economic activities include?a) Investmentb) Consumptionc) Both a and bd) None of the above
The right Answer is :c) Both a and b
![Page 98: Managerial Economics (2)](https://reader038.vdocument.in/reader038/viewer/2022103121/563dba27550346aa9aa329ea/html5/thumbnails/98.jpg)
Q49. The cost of sacrificed alternatives is called ______?
a) Marginal costb) Consumptionc) Opportunity costd) Managerial cost
![Page 99: Managerial Economics (2)](https://reader038.vdocument.in/reader038/viewer/2022103121/563dba27550346aa9aa329ea/html5/thumbnails/99.jpg)
Q49. The cost of sacrificed alternatives is called ______?
a) Marginal costb) Consumptionc) Opportunity costd) Managerial cost
The right Answer is :c) Opportunity cost
![Page 100: Managerial Economics (2)](https://reader038.vdocument.in/reader038/viewer/2022103121/563dba27550346aa9aa329ea/html5/thumbnails/100.jpg)
Q50. _______is defined as the change in the total cost as the result of change in level of output?
a) Marginal costb) Incremental costc) Opporunity costd) Managerial cost
![Page 101: Managerial Economics (2)](https://reader038.vdocument.in/reader038/viewer/2022103121/563dba27550346aa9aa329ea/html5/thumbnails/101.jpg)
Q50. _______is defined as the change in the total cost as the result of change in level of output?
a) Marginal costb) Incremental costc) Opporunity costd) Managerial cost
The right Answer is :b) Incremental cost
![Page 102: Managerial Economics (2)](https://reader038.vdocument.in/reader038/viewer/2022103121/563dba27550346aa9aa329ea/html5/thumbnails/102.jpg)