Business Economics (CBSE-NET (Based on NTA-UGC) Commerce (Paper-II)): Questions 1 - 5 of 7

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Question number: 1

» Business Economics » Nature and Uses of Business Economics

Appeared in Year: 2013

MCQ▾

Question

Business economics is a subject which (December Paper- II, UGC NET)

Choices

Choice (4) Response

a.

Studies economic relationship

b.

Deals with the tools of economics used for decision making in business

c.

Studies optimum allocation of limited resources

d.

Studies economic activities at the aggregate level

Question number: 2

» Business Economics » Nature and Uses of Business Economics

Appeared in Year: 2013

MCQ▾

Question

Demand must have the elements (June, Paper- III, UGC NET)

Choices

Choice (4) Response

a.

Quantity, Price and Time

b.

Want

c.

Desire

d.

All a. , b. and c. are correct

Question number: 3

» Business Economics » Curve Analysis Law

Appeared in Year: 2016

MCQ▾

Question

The minimum Long Run Average Cost (LAC) can be determined on a

I. LAC curve for a normal production function

II. LAC curve for a linear production function

III. Planning curve

IV. Envelope curve

Choices

Choice (4) Response

a.

II III IV

b.

I III IV

c.

I II III

d.

I II IV

Question number: 4

» Business Economics » Demand Analysis and Elasticity of Demand

Appeared in Year: 2015

MCQ▾

Question

The following is the demand function in the small market:

Where ‘Q’ denotes quantity in physical units and ‘P’ denotes price of the commodity. At price Rs. 5, the point price elasticity of demand would be:

Choices

Choice (4) Response

a.

Equal to unity

b.

Highly elastic

c.

Zero

d.

Highly inelastic

Question number: 5

» Business Economics » Price Determination in Different Market Situations » Perfect Competition

Appeared in Year: 2015

MCQ▾

Question

The following are the demand and supply equations in a perfectly competitive market:

The equilibrium market price would be:

Choices

Choice (4) Response

a.

40

b.

20

c.

10

d.

24

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