Business Economics MCQs and Answers for competitive exams

Questions

81 The principal reasons behind economic problems :

A Unlimited Wants

B Limited or Scarce Resources

C Alternative uses of Means

D All the above

View Answer

Answer: Limited or Scarce Resources

82 It is the study of economic actions of individuals and small groups of individuals:

A Micro – Economics

B Macro Economics

C Managerial Economics

D Business Economics

View Answer

Answer: Micro – Economics

Article and Schedule Quiz	Start Test!

DOWNLOAD CURRENT AFFAIRS PDF FROM APP

83 Moral hazard…

A Occurs when managers pursue profit maximization without regard to the interests of society in general.

B Is the cause of principal-agent problems.

C Occurs only rarely in modern corporations.

D Exists when either party to a contract has an incentive to cancel the contract.

View Answer

Answer: Is the cause of principal-agent problems.

84 Economic profit is…

A The difference between total revenue and explicit costs.

B The difference between total revenue and the opportunity cost of all the resources used in production.

C The difference between accounting profit and explicit costs.

D The difference between accounting profit and the opportunity cost of the market-supplied resources used by the firm.

View Answer

Answer: The difference between total revenue and the opportunity cost of all the resources used in production.

85 The value of an entrepreneur‟s resources that she uses in production are known as:

A Implicit costs.

B Explicit costs

C Sunk costs.

D Operating expenses.

View Answer

Answer: Implicit costs.

86 An input should be so allocated that the value added by the last unit is the same in all cases.

A Opportunity Cost Principle

B Equi-Marginal Principle

C Discounting Principle

D Incremental Principle

View Answer

Answer: Equi-Marginal Principle

87 The term `Economics‟ in English language has its origin in word.

A Greek

B Italic

C Latin

D Indian

View Answer

Answer: Greek

88 Economics includes the following economic activities:

A Production

B Consumption

C Exchange

D All of above

View Answer

Answer: All of the above

89 It refers to the determination of prices of all goods and services by the interaction of the forces of demand and supply without any external interference.

A Product-mechanism

B Price-mechanism

C Cost-mechanism

D None of these

View Answer

Answer: Price-mechanism

90 The principle reasons behind economic problems

A Unlimited wants

B Limited or Scarce of Means

C Alternatives Uses of Means

D All of the above

View Answer

Answer: All of the above

ADRE 2.0 FULL LENGTH MOCK TEST

Take Mock Tests

Missiles Mock Test	Start Test!
SSC MTS Mock Test	Start Test
IBPS CLERK MOCK TEST	Start Test
SSC MTS 2022 JULY 26 Shift 1 (ENGLISH)	Start Test!
SSC GD Previous Year Paper 2021 Nov 17 Shift - I (Hindi)	Start Test!
SSC CGL Tier - 1 PYP 2022 April 21 Shift- 1 (ENGLISH)	Start Test!
MPSC PAPER I MOCK TEST 1 (ENGLISH)	Start Test!
IB Security Assistant Mock test 1 (english)	Start Test!
UP POLICE CONSTABLE MOCK TEST 1	Start Test!
DELHI POLICE CONSTABLE MOCK TEST 1 (HINDI)	Start Test!