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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 3 MCQs Theory of Production and Cost
Which of the following is Correct?
2. Question1 pointsCategory: Chapter 3 MCQs Theory of Production and Cost
Marginal, average and total product of a firm in the short run will not comprise with ________.
3. Question1 pointsCategory: Chapter 3 MCQs Theory of Production and Cost
When average product rises as a result of an increase in the quantity of variable factor, marginal product is:
4. Question1 pointsCategory: Chapter 3 MCQs Theory of Production and Cost
The marginal product curve is above the average product curve when the average product is:
5. Question1 pointsCategory: Chapter 3 MCQs Theory of Production and Cost
Identify the correct statement:
6. Question1 pointsCategory: Chapter 1 MCQs Nature and Scope of Business Economics
Which of the following is a normative economic statement?
7. Question1 pointsCategory: Chapter 1 MCQs Nature and Scope of Business Economics
Ram: My corn harvest this year is poor.
Krishan: Don’t worry. Price increases will compensate for the fall in quantity supplied.
Vinod: Climate affects crop yields. Some years are bad, others are good.
Madhu: The Government ought to guarantee that our income will not fall.
In this conversation, the normative statement is made by
8. Question1 pointsCategory: Chapter 1 MCQs Nature and Scope of Business Economics
Positive science only explains __________
9. Question1 pointsCategory: Chapter 2 MCQs Theory of Demand and Supply
Which one of the following may be Considered as a rationale of the law of demand?
10. Question1 pointsCategory: Chapter 2 MCQs Theory of Demand and Supply
In which of the following cases, the law of demand holds true?
11. Question1 pointsCategory: Chapter 2 MCQs Theory of Demand and Supply
Higher the price of diamonds, higher is the prestige value attached to them and hence higher is the demand for them. These goods are called as ________.
12. Question1 pointsCategory: Chapter 2 MCQs Theory of Demand and Supply
Which one of the following is an exception to the law of demand?
13. Question1 pointsCategory: Chapter 2 MCQs Theory of Demand and Supply
For what type of goods does de-mand fall with a rise in income levels of households?
14. Question1 pointsCategory: Chapter 4 MCQs Price Determination in Different Markets
Which of the following may lead to changes in demand and Supply?
15. Question1 pointsCategory: Chapter 4 MCQs Price Determination in Different Markets
Changes in Demand & Supply may be due to __________.
16. Question1 pointsCategory: Chapter 4 MCQs Price Determination in Different Markets
If price is forced to stay below equilibrium price then consequently it can be said that:
17. Question1 pointsCategory: Chapter 4 MCQs Price Determination in Different Markets
If the price of a commodity is fixed, then with every increase in its sold quantity the total revenue will __________ and the marginal revenue will __________.
18. Question1 pointsCategory: Chapter 4 MCQs Price Determination in Different Markets
If supply increases in a greater proportion than demand __________.
19. Question1 pointsCategory: Chapter 5 MCQs Business Cycles
During recession, the unemployment rate and output
20. Question1 pointsCategory: Chapter 5 MCQs Business Cycles
_________ phase of business cycle marks the end of pessimism and the beginning of optimism.
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Students should practice CA Foundation Economics & Business and Commercial Knowledge (BCK) MCQ with Answers .