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In this Quiz, We have covered MCQs from
- CA Foundation Paper 4 : Business Economics [20 Questions]
- Chapter 1 : Nature & Scope of Business Economics
- Chapter 2 : Theory of Demand and Supply
- Chapter 3 : Theory of Production and Cost
- Chapter 4 : Price Determination in Different Markets
- Chapter 5 : Business Cycles
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1. Question1 pointsCategory: Chapter 1 MCQs Nature and Scope of Business Economics
Business Economics is __________ in its approach as it tackles practical problems which the firm faces in the real world.
2. Question1 pointsCategory: Chapter 1 MCQs Nature and Scope of Business Economics
The difference between positive and normative Economics is:
3. Question1 pointsCategory: Chapter 1 MCQs Nature and Scope of Business Economics
Normative aspect of Economics is given by:
4. Question1 pointsCategory: Chapter 2 MCQs Theory of Demand and Supply
If we plot the market demand sched-ule on a graph, we get ________.
5. Question1 pointsCategory: Chapter 2 MCQs Theory of Demand and Supply
The lateral summation of indi¬vidual demand Curves is regarded as ________.
6. Question1 pointsCategory: Chapter 2 MCQs Theory of Demand and Supply
According to ________, the consumer has diminishing utility for each additional unit of a commodity and therefore, he will be willing to pay only less for each additional unit.
7. Question1 pointsCategory: Chapter 2 MCQs Theory of Demand and Supply
A Consumer maximizes his satisfaction when the Marginal utility of the commodity is ________ its price.
8. Question1 pointsCategory: Chapter 2 MCQs Theory of Demand and Supply
The operations of diminishing marginal utility and the act of the Consumer to equalize the utility of the commodity with its price result in a ________ demand curve.
9. Question1 pointsCategory: Chapter 3 MCQs Theory of Production and Cost
What will be the total product when two labourers are hired according to the table given below?
No. of labourers Total Product Marginal product 0 — — 1 350 350 2 — 250
10. Question1 pointsCategory: Chapter 3 MCQs Theory of Production and Cost
Consider the following table:
Labour Total Output Marginal Product 0 1 100 100 2 80 3 240
11. Question1 pointsCategory: Chapter 3 MCQs Theory of Production and Cost
________ is the total output resulting from the efforts of all the factors of production combined together at any time
12. Question1 pointsCategory: Chapter 3 MCQs Theory of Production and Cost
Average product is defined as ________
13. Question1 pointsCategory: Chapter 3 MCQs Theory of Production and Cost
Suppose the first four units of a variable input generate corresponding total outputs of 200, 350, 450, 500. The marginal product of the third unit of input is:
14. Question1 pointsCategory: Chapter 4 MCQs Price Determination in Different Markets
From the following table, what will be equilibrium market price?
Price (₹) Demand (tonnes per annum) Supply (tonnes per annum) 1 500 200 2 450 250 3 400 300 4 350 350 5 300 400 6 250 450 7 200 500 8 150 550
15. Question1 pointsCategory: Chapter 4 MCQs Price Determination in Different Markets
The equilibrium is restored automatically through:
16. Question1 pointsCategory: Chapter 4 MCQs Price Determination in Different Markets
__________ is the price at which demand for a commodity is equal to its supply:
17. Question1 pointsCategory: Chapter 4 MCQs Price Determination in Different Markets
When increase in demand is equal to increase in supply and equilibrium price remains constant, then what about equilibrium quantity?
18. Question1 pointsCategory: Chapter 4 MCQs Price Determination in Different Markets
With a given supply curve, a decrease in demand causes __________.
19. Question1 pointsCategory: Chapter 5 MCQs Business Cycles
A significant decline in general economic activity extending over a period of time is _________.
20. Question1 pointsCategory: Chapter 5 MCQs Business Cycles
When aggregate economic activity is declining, the economy is said to be in _________
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Students should practice CA Foundation Economics & Business and Commercial Knowledge (BCK) MCQ with Answers .