CA Foundation · Economics · Economics — Quick T/F

Exercise and reference answers

Questions

1. Statement is true

   Yes

   Statement

   Business Economics is mainly based on Microeconomics.

2. Statement is true

   Yes

   Statement

   Joel Dean defined Business Economics.

3. Statement is true

   No

   Statement

   Economics studies how unlimited resources satisfy limited wants.

4. Statement is true

   Yes

   Statement

   Macroeconomics deals with the economy as a whole.

5. Statement is true

   No

   Statement

   All economic theories are positive (descriptive).

6. Statement is true

   Yes

   Statement

   Demand requires desire backed by ability and willingness to pay.

Instructions

Decide each economics statement.