TOP 35 Economic Analysis for Business Decisions MCQ With Answers

Below given are top 35 important Economic Analysis for Business Decisions MCQ with Answers. These EABD Multiple Choice Questions are useful for MBA, MMS, BBA, PGDM, B Com, M Com, NET, SET, Ph D Entrance exams and other competitive exams.

Business economics is also known_______

A. Decisional Economics

B. Analytical Economics

C. Managerial Economics

D. Decision Science

Economics is______

A. A positive science which deals with economics only

B. A negative science which deals with economical analysis only

C. Neither positive nor negative science but a normative science

D. An art or science depend upon uses – who uses, how uses and for what purpose

_________is the father of Economics.

A. Peter Drucker

B. Philip Kotler

C. Adam Smith

D. Michael Porter

Economics is a______

A. Positive Science

B. Relative Science

C. Normative Science

D. Both A & C

The relationship between price and demand is______

A. Normative

B. Positive

C. Negative

D. Horizontal

Law of demand shows ___________ between price and demand (Quantity Demanded).

A. Positive Relationship

B. Direct Relationship

C. Normative Relationship

D. Negative Relationship

The formula (Potential price – Actual price) shows ______

A. Consumer Deficit

B. Consumer Surplus

C. Demand Supply Gap

D. Profit Gap

Economics is a ________ which deals with human wants and their satisfaction.

A. Natural Science

B. Social Science

C. Physical Science

D. Political Science

________is the branch of economics wherein mathematics and statistics are used to measure and analyse economics activities.

A. Econometrics

B. Econography

C. Statistical Economics

D. Ecotronics

______is the opportunity cost of a machine which can produce only one product.

A. Low

B. Average

C. High

D. Zero