Business Economics Test
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Avg score: 20% • Most missed: “______ is the main feature of monopoly.”
Business Economics Test
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25 Questions

1. _____ return to said to apply, if the marginal product is increasing.
2. Product obtained by additional dose of factor of product is known as____product.
3. ______ statements record the financial operations of a firm and constitute the language of business.
4. Under market period the supply is ________.
5. Breakeven point is also called _______.
6. Economic cost consists of ________.
7. TFC=AFC?T Q
8. The cost of material is _____.
9. ______ is the point of sales at which there is neither profit nor loss.
10. ______Statement tell us how one should behave.
11. It is a case of _____ demand of the commodity changes with the change in price.
12. Cost of material is ______cost of production.
13. The cost of additional unit of production is known as ______.
14. A consumers demand curve can be obtained from ___________.
15. Economics of concentration are part of _____ economics.
16. TR=?*p
17. A monopolist cannot continue to sell as long as his marginal revenue is ____than the marginal cost.
18. Average fixed cost curve takes the shape of ____ hyperbola.
19. Business economics details with the application of economics principles to the ____ of business firms.
20. ______ is the main feature of monopoly.
21. _______ is a mathematical device, which explains economic behavior of players in a market environment.
22. According to Marshall, the primary object and end of economics is the promotion of ____.
23. Typically the supply curve _______________-
24. Business economics is concerned with the allocation of resources in a _______.
25. The demand will be _____ if there is no change in the demand of the commodity, in spite of the change in the price of the commodity.

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