Tag: business economics and quantitative methods

Quizzes (24) Questions (932)

Questions Related to business economics and quantitative methods

Multiple choice business economics and quantitative methods introduction to micro economics microeconomics and macroeconomics : introduction economic ideas of j k mehta micro and macro economics

Micro-Economics is the study of behaviour of ____________.

  1. multiple units

  2. individual units

  3. large aggregates

  4. none of the above
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Microeconomics deals with the study of individual variables like firms, workers, consumers, and investors on how they interact with each other and influence various factors in the market like price of a commodity. 

Multiple choice business economics and quantitative methods introduction to micro economics microeconomics and macroeconomics : introduction economic ideas of j k mehta micro and macro economics

Which of the following is not a micro economic subject matter?

  1. The price of mangoes

  2. The cost of producing a fire truck for the fire department of Delhi, India.

  3. The quantity of mangoes produced for the mangoes market.

  4. The national economy's annual rate of growth.
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Microeconomics deals with the individual or a small unit's influence in the economic problems that prevails in the nation it is not bothered about the macro units that is the nation as a whole. Therefore at the time of estimation of micro variables of the economics, macro is assumed to be constant.

Multiple choice business economics and quantitative methods introduction to micro economics microeconomics and macroeconomics : introduction economic ideas of j k mehta micro and macro economics

Which of the following is covered in Macro Economics?

  1. Product Pricing

  2. Consumer Behaviour

  3. General Price Levels

  4. Factor Pricing
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Macro economics studies economics as a whole and not from the view point of an individual unit. General price level is related to the prices of most of the commodity in a nation at a certain period of time and thus it is a macro variable.

Multiple choice business economics and quantitative methods introduction to micro economics microeconomics and macroeconomics : introduction economic ideas of j k mehta micro and macro economics

Macro economics is also called _________.

  1. price theory

  2. income theory

  3. irrelevant theory

  4. development theory
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Macro economics deals with the national income of a nation and what are its implications on various factors of the nation economically as well as socially which lead to growth and development of the economy.  

Multiple choice business economics and quantitative methods introduction to micro economics microeconomics and macroeconomics : introduction economic ideas of j k mehta micro and macro economics

Price theory is an important constituent of __________ economics.

  1. micro

  2. macro

  3. development

  4. welfare
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Micro economics studies economics from the point of an individual unit. Price theory is included in micro economics. Price theory determines that how demand and supply forces determine the price of goods and services in a market.

Multiple choice business economics and quantitative methods introduction to micro economics microeconomics and macroeconomics : introduction economic ideas of j k mehta micro and macro economics

Which of the following is not a variable of macro economics?

  1. Aggregate Supply

  2. National Income

  3. Aggregate Demand

  4. None of the above
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Macro economics deals in the study of economics as a whole. Aggregate supply, (that refers to total production of goods and services in the economy) national income (income incurred by a nation from the production of goods and services during an accounting period) and aggregate demand (total expenditure on the purchase of goods and services in an economy during an accounting year) - all are included in the study of macro economics.

Multiple choice business economics and quantitative methods introduction to micro economics microeconomics and macroeconomics : introduction economic ideas of j k mehta micro and macro economics

Income theory is the other name of __________.

  1. macroeconomics

  2. microeconomics

  3. econometrics

  4. product pricing
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Macroeconomics is also called Income theory as it studies the relative levels of income, output, employment, and prices in an economy. 

The income theory is a major aspect of macroeconomics theory. A major task of macroeconomics is the determination of national income. Macroeconomics studies the factors determining national income and the causes of the trends in national income.     

Multiple choice business economics and quantitative methods introduction to micro economics microeconomics and macroeconomics : introduction economic ideas of j k mehta micro and macro economics

In micro economics, we study about __________..

  1. aggregates

  2. national income

  3. demand & supply

  4. all of the above
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

The main branch of micro economics deals with the change in price of a commodity due to various market forces like quantity demanded and quantity supplied of that commodity in the market. 

Multiple choice business economics and quantitative methods introduction to micro economics microeconomics and macroeconomics : introduction economic ideas of j k mehta micro and macro economics

Which of the following is covered in Micro-Economics?

  1. Consumer Behaviour

  2. External Value of Money

  3. Employment and Economic Growth

  4. National Income
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Consumer behaviour is a micro unit as it measures the behaviour of each consumer when they purchase the commodity which developed many theories like utility analysis, indifference curve analysis etc. 

Multiple choice business economics and quantitative methods introduction to micro economics microeconomics and macroeconomics : introduction economic ideas of j k mehta micro and macro economics

Which of the following does not fall under Macro Economics?

  1. Value of Rupee visa-vis US Dollar

  2. Balance of Payments Deficits

  3. Price Fixation by Producer Firm

  4. Low saving rates in the economy
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Price fixation by producer firm is a micro variable as it is a individual firm who is deciding the price of the commodity.