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Business Economics Basics
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Business Economics Basics
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25 Questions

1. Life insurance business in India is an example of ------------------
2. Which of the following is called Gossens first law?
3. A firm shut-down point is reached when -----------
4. Sales Maximisation is suitable for ------ market
5. In perfect competition equilibrium is attained when ------------------
6. Economics is a science the basis of this statement does not include
7. Profit = ------------
8. At what point does total utility starts diminishing?
9. The short run is a time period in which -------
10. Under perfect competition firms do not engage in price-war because ------------
11. National Income is equal to ..............
12. Which of the following is not present in a time series?
13. The essential aspects of oligopoly is -------------
14. The upper portion of the kinked demand curve is relatively --------------
15. Micro economic theory is also known as ------
16. What are homogenous products?
17. Sales Maximisation concept is given by -----
18. If marginal utility is zero
19. Tea and coffee are ----- goods
20. ----------------------- establishes the relationship between quantity demanded and one or more independent variables.
21. Profit Maximisation goal is suitable for ---- and ----- markets
22. Indifference curve slopes,
23. Marginal cost curve cuts the average cost curve --------------
24. If firms can neither enter nor leave an industry, the relevant time period is the ----------
25. The two general approaches to forecasting are---------

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