Business Economics MCQ

Business Economics MCQ

  • Satyam Jaiswal
  • 01st Jul, 2021

We are introducing here the best Business Economics MCQ Questions, which are very popular & cover the latest and important topics of Business Economics. This Business Economics MCQ Test contains Top 25+ Business Economics Multiple Choice Questions and Answers, so practice these questions to check your final preparation for Business Economics UGC NET Exams, Interviews & Placement Drives. 

Practice Best Business Economics MCQ Questions;

1) Managerial Economics is

  • A. Only a normative science
  • B.Dealing only micro aspects
  • C.Deals with practical aspects
  • D.All of above

2) In economics, desire backed by purchasing power is known as ______

  • A. Utility
  • B.Demand
  • C.Scarcity
  • D.Consumption

3) In the case of perfect elasticity, the demand curve is ________

  • A. Flat
  • B.Vertical
  • C.Horizontal
  • D.Horizontal

4) ______ is the base of marketing planning.

  • A. Demand function
  • B.Demand function
  • C.Demand function
  • D.Demand forecasting

5) Perfect competition is characterized by

  • A. Homogeneous product
  • B.Free entry and exit of firms
  • C.Large number of buyers and sellers
  • D.All of above

6) The distinction between variable cost and fixed cost is relevant only in ________

  • A. short period
  • B.medium term
  • C.long period
  • D.mixed period

7) Psychological pricing is also called as ________

  • A. Odd pricing
  • B.Skimming pricing
  • C.Penetration pricing
  • D.All of above

8) Who is the father of Economics?

  • A. Samuelson
  • B.Adam Smith
  • C.Alfred Marshall
  • D.Lionel Robbins

9) Production refers to ________

  • A. Exchange value
  • B.Creation of utility
  • C.Destruction of utility
  • D.None of the above

10) The long run average cost curve is also called as_____

  • A. Planning curve
  • B.Budget line
  • C.Indifference curve
  • D.All of above

11) _____ is absence of competition.

  • A. Duopoly
  • B.Oligopoly
  • C.Monopoly
  • D.Monopolistic

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