Managerial Economics Solved papers unit 1
Red mark indicate right answer of single and multiple choice, true and false, match the following.
Single and Multiple choice question and answer,
Q. Micro economic studies the phenomenon at the ..
a. individual level
b. Multiple level
c. aggregate level
d. employment level
Q. Demand for durable goods does not depend upon level of.
a. national level
b. international level
c. domestic level
d. employment level
Q. Managerial economic is an applied .. of knowledge.
Q. Economic provide the tools which explain various concept.
Q Managerial economic lies on the .. of management and economics.
a a. Border line
b b. Single line
c c. Vertical line
d d. Horizontal line
Q. Managerial economic is . an applied branch of knowledge.
Q. The concepts of micro economics used frequently in managerial economic.
a. elasticity of demand
b. marginal cost
c. marginal price
d. marginal economic
Q. Macro-economic theory studies the economic at the . Level.
Q. The scope of managerial economic deal with……..
a. demand analysis
c. cost analysis
d. production function
Q. integral part of decision making and forward planning.
Q. Decision making and forward planning is essential to stage.
Q. Uncertainty and risk arise mainly due to uncertain behavior of the market forces..
a. Demand and supply
b. Government policy
c. business environment
d. individual behavior
Q. The ………. is the one who takes risks by introducing both new products and new ways of making old product.
Q. The total out put of all commodities in one country over period of time is called¦.
a. Gross domestic product
b. Gross national product
c. net national income
d. net domestic income
Q. The act of making goods and service is called. And the act of using these goods and services is called
Q. any one who produces goods and service is called. And any one who consumes them to satisfy his or her wants is called ..
Q. Federal government of the United States, the richest government, faces the same issue of ….. Problem.
d. unlimited want
* True or false
Q Managerial economic generally refer to the integration of economic theory.
Q. Managerial economic lies on the border line of management and economics.
Q. Managerial economic is first applied branch of knowledge.
Q. Management deals with principle which helps in decision making.
Q. Macro-economic assists firms in forecasting.
Q. Macro-economic theory studies the economic at the aggregate Level.
Q. Managerial economic is one of the normative sciences.
Q The scope of managerial economic is so wide.
Q. Cost analysis is one of the important areas studies by managerial economics.
Q. ABC analysis methods use in inventory management.
Q. sales is integral part of decision making and forward planning.
Q. Decisions are taken under the condition of uncertainty and therefore involve risk.
Q. business decision requires a clear understanding of the technical and environment conditions.
Q. The owner is the one who takes risks by introducing both new products and new ways of making old product.
a. True b. False
Q. The thing that are produced by the factors of production are called commodities.
Q. The total out put of all commodities in one country over some period is called gross national
Q. How to economies or make the maximum use of limited resource is big problem of every country in the world.
Q. Economic problem is universal problem.
* Match the following
Managerial economic—— integration of economic
Economic—- Demand, supply, price and competition
Macro-economic—— aggregate level
Micro economic—- individual level
ABC methods—-inventory management
Resources system—- liner programming
Gifts of nature—Land, forests, and minerals
Human capacity—-mental and physical
manmade production—- Machinery and building
Entrepreneur—- take risk by introduce new product
Commodities—factor of production
Tangible goods—- Food grain, cars, shoes
Intangible goods— services
Gross national product—Total output of all commodities
Theory of price—what commodities are being produced and in what quantities
Theory of production— By what methods commodities are produce
Theory of distribution— how is society output of goods and service divided among its members
Theory of welfare economics—how efficient society production and distribution
Trade cycle theory— are the country resources being fully utilize
Theory of economics growth—is the economy capacity to produce goods and services growing from year to year.
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