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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
Freedom of choice is the advantage of __________.
2. Question1 pointsCategory: Chapter 1 MCQs Nature and Scope of Business Economics
A capitalist economy consists of __________.
3. Question1 pointsCategory: Chapter 1 MCQs Nature and Scope of Business Economics
In a free market economy the al-location of resources is determined by __________.
4. Question1 pointsCategory: Chapter 1 MCQs Nature and Scope of Business Economics
A capitalist economy uses __________ as the principal means of allocating resources.
5. Question1 pointsCategory: Chapter 1 MCQs Nature and Scope of Business Economics
Price Mechanism is the main feature of which economy __________.
6. Question1 pointsCategory: Chapter 3 MCQs Theory of Production and Cost
Implicit cost can be defined as ________.
7. Question1 pointsCategory: Chapter 3 MCQs Theory of Production and Cost
Implicit cost may be defined as the:
8. Question1 pointsCategory: Chapter 3 MCQs Theory of Production and Cost
Which of the following is including in cost of production and is termed as accounting cost?
9. Question1 pointsCategory: Chapter 3 MCQs Theory of Production and Cost
Economic cost excludes which of the following :
10. Question1 pointsCategory: Chapter 3 MCQs Theory of Production and Cost
The cost of resources owned and employed by the entrepreneur himself in his business is termed as ________ cost.
11. Question1 pointsCategory: Chapter 5 MCQs Business Cycles
Rampant unemployment is found in:
12. Question1 pointsCategory: Chapter 5 MCQs Business Cycles
Economics activities will be declining in the phase of _________.
13. Question1 pointsCategory: Chapter 5 MCQs Business Cycles
In the later stages of expansion, inputs are difficult to find as they are _________ oftheir demand and therefore & input prices _________.
14. Question1 pointsCategory: Chapter 4 MCQs Price Determination in Different Markets
Which of the following is not a characteristic of a “price-taker”?
15. Question1 pointsCategory: Chapter 4 MCQs Price Determination in Different Markets
In perfect competition, since the firm is a price taker, the __________ curve is a straight line :
16. Question1 pointsCategory: Chapter 4 MCQs Price Determination in Different Markets
Average revenue curve is also known as:
17. Question1 pointsCategory: Chapter 4 MCQs Price Determination in Different Markets
For a price-taking firm :
18. Question1 pointsCategory: Chapter 4 MCQs Price Determination in Different Markets
Which of the following statements is accurate regarding a perfectly competitive firm?
19. Question1 pointsCategory: Chapter 2 MCQs Theory of Demand and Supply
Elasticity of demand is the percentage change in ________ divided by the percentage change in on which demand depends.
20. Question1 pointsCategory: Chapter 2 MCQs Theory of Demand and Supply
The price of a commodity decreases from ₹ 6 per unit to ₹ 4 Per unit and quantity demanded of the goods increased from 10 units to 15 units. The Co-efficient of Price Elasticity will be ________.
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Students should practice CA Foundation Economics & Business and Commercial Knowledge (BCK) MCQ with Answers .