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B.Com General Economics — practice by topic

Browse 29 questions across 4 Economics topics. Choose what you want to revise, then open a question to check its answer and worked solution.

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Economics topics

Business Economics (29)Business Environment (29)Economic Systems and Markets (29)Managerial Economics (29)

Try a Economics question

The study of how a society uses scarce resources to produce and distribute goods is:Read the answer and worked solution →The resources used to create goods and services are called the:Read the answer and worked solution →A branch of economics that looks at the whole economy rather than single households is:Read the answer and worked solution →The branch focusing on individual parts such as households or single firms is:Read the answer and worked solution →

Worked practice questions

The study of how a society uses scarce resources to produce and distribute goods is:

  1. Economics
  2. Ergonomics
  3. Electronics
  4. Epidemics
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Correct answer: A. Economics

1. Resources are limited. 2. Choices must be made about their use. 3. This is economics. _Source: OpenStax Introduction to Business, Chapter 1, Understanding Economic Systems and Business._

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The resources used to create goods and services are called the:

  1. Factors of projection
  2. Factors of production
  3. Factors of protection
  4. Factors of promotion
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Correct answer: B. Factors of production

1. Land, labour and capital belong here. 2. They go into making the output. 3. They are the factors of production. _Source: OpenStax Introduction to Business, Chapter 1, Understanding Economic Systems and Business._

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A branch of economics that looks at the whole economy rather than single households is:

  1. Macroeconomics
  2. Microeconomics
  3. Metroeconomics
  4. Mixedeconomics
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Correct answer: A. Macroeconomics

1. Its view is the widest. 2. Single firms are studied elsewhere. 3. It is macroeconomics. _Source: OpenStax Introduction to Business, Chapter 1, Understanding Economic Systems and Business._

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How to practise

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