Classical

Business Economics - Business Economics Questions

1:  
The firm under perfect competition will be in short-run equilibrium when
A.
Rising marginal cost is equal to the minimum average cost
B.
Marginal revenue is equal to rising marginal cost
C.

Average revenue is equal to average cost

D.
Marginal revenue is equal to the falling marginal cost
 
 

Option: B

Explanation :


2:  
The concept of imperfect competition was developed by
A.

Marshall

B.

Jevons

C.

Joan Robinson

D.

Mrs. Lillian Gilbreth

 
 

Option: C

Explanation :


3:  
Consider the following
(i) Pricing objective
(ii) Pricing methods
(iii) Pricing strategies
(iv) Pricing decision
Arrange them in correct sequence
A.

(i), (iii), (ii), (iv)

B.

(i), (iv), (iii), (ii)

C.

(ii), (i), (iv), (iii)

D.

(iv), (ii), (iii), (i)

 
 

Option: A

Explanation :


4:  
Assertion (A). The excess price which a man in willing to pay rather than go with out the thing, over that he actually does pay is the consumer's surplus.
Reason (R). The basic reason for consumer's surplus is law of diminishing marginal utility.
A.
Both (A) and (R) are true and (R) is the correct explanation of (A).
B.
Both (A) and (R) are true but (R) is not the correct explanation of (A).
C.

(A) is true but (R) is false.

D.

(A) is false but (R) is true.

 
 

Option: B

Explanation :


5:  

Assertion (A). High customer expectations lead to dissatisfaction as product performance never matches them.

Reason (R). Product performance is always customer specific.

A.

Both (A) and (R) are correct.

B.

Both (A) and (R) are incorrect.

C.

(A) is correct but (R) is in correct.

D.

(R) is correct but (A) is incorrect.

 
 

Option: B

Explanation :




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  • This section contain multiple choice questions answers on business economics.
  • Business Economics mcq can also be used in the preparation of ugc net exams.
  • Business Economics objective type questions answers can be used to gain a credit score in various undergraduate and post graduate commerce courses like B com  and Mcom
  • These questions answers can also be used by management students for improving their knowledge in business economics.
  • These multiple choice questions answers can also be used by any student of XI or XII standard who has opted to study commerce to increase his knowledge in Business Economics.
  • This section can be used for the preparation of quizzes by any commerce student.