CA Foundation Nature and Scope of Business Economics — practice questions
20 free MCQs with worked solutions. Tap any question for the answer + explanation, or practice them all in the app.
Practice CA Foundation Nature and Scope of Business Economics in the app →The term 'Economics' is derived from the Greek word 'Oikonomia', which originally means:Till the 19th century, the subject now called Economics was commonly known as:The 1776 work 'An Inquiry into the Nature and Causes of the Wealth of Nations' is regarded as the first modernThe two fundamental facts that together form the subject matter of Economics are that human wants are:The narrow definition of Economics that focuses solely on using relatively scarce resources to satisfy human wBusiness Economics is best described as the integration of economic theory with:Business Economics is also commonly referred to by which alternative name?Who defined Business Economics in terms of the use of economic analysis in the formulation of business policieWhich branch of Economics studies the behaviour of individual units such as consumers and firms in allocating Which of the following subjects of study falls under Macro Economics rather than Micro Economics?A study of total consumption, total saving, total investment, and the overall level of employment in an economWhile Business Economics is basically concerned with Micro Economics, why does Macro Economics still play an iA science that states 'what is' and describes cause-and-effect relationships without any value judgement is teBusiness Economics is described as being generally normative in nature primarily because it:The statement that Business Economics combines both positive and normative theory, with the emphasis being morBusiness Economics is said to be a 'Science' chiefly because it:Decision making, as explained in the unit, is best described as the process of selecting an alternative that:In the scope of Business Economics, internal or operational issues of a firm are addressed mainly through:Which of the following is an external or environmental issue addressed through Macroeconomics in the scope of The technique of predicting future demand for goods and services on the basis of the past behaviour of factors