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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. Typically the supply curve _______________-
2. The value of elasticity of demand ranges from
3. Isoquant is also known as
4. A consumers demand curve can be obtained from ___________.
5. Business economics details with the application of economics principles to the ____ of business firms.
6. A monopolist cannot continue to sell as long as his marginal revenue is ____than the marginal cost.
7. In case of _____ market the policy of product differentiation is adopted by producers.
8. Production can be measured in terms of ______.
9. Product obtained by additional dose of factor of product is known as____product.
10. A monopolist will determine very____price for a commodity having inelastic demand.
11. Breakeven point is also called _______.
12. If law of constant return is applicable marginal product will be ____ average product.
13. Average cost is always _____ to the cost of the commodity.
14. The supply can be adjusted according to the tastes of consumers in ____ period.
15. Economic fore-castes _____ risk.
16. Past cost is also known as ________.
17. TPP and EMPP are _____
18. In _____ market goods are sold at uniform price.
19. Output is a _____ variable.
20. TFC=AFC?T Q
21. With the increases in price the breakeven point _____.
22. ______Statement tell us how one should behave.
23. Past cost is also known as _____________.
24. All the costs are variable in ______.
25. The utility may be defined as _________.

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