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Economics for Managers
Economics for Managers
We Also Provide SYNOPSIS AND PROJECT. Contact www.kimsharma.co.in for best and lowest cost solution or Email: amitymbaassignment@gmail.com Call: +91 82907-72200 (Call/WhatsApp) or +91 88003-52777 (WhatsApp Only) Economics for Managers QUESTION 1. Contraction of demand is shown by: Upward movement on the demand curve Downward movement on the demand curve Rightward shift of the demand curve Leftward shift of the demand curve QUESTION 2. "Demand Function, X = f (P) where X = demand of a commodity; P = Price of the commodity" Demand is directly related to price Price is inversely related to demand Price is directly related to demand None of the above QUESTION 3. Economics is the study of the markets for stocks and bonds the study of choice under conditions of scarcity exclusively the study of business firms fundamentally the same as sociology e. applicable only when scarcity is not a problem QUESTION 4. Which of the following statements is NOT TRUE of indifference curves? They exhibit higher levels of utility as you move from the origin They could intersect They are downward sloping They are convex to the origin QUESTION 5. An indifference curve between two commodities where one is a bad and the other a good would: be vertical to the axis measuring units consumed of the good remain downward sloping be vertical to the axis measuring units consumed of the bad be upward sloping QUESTION 6. Expansion of demand is shown by: Upward movement on the demand curve Downward movement on the demand curve Rightward shift of the demand curve Leftward shift of the demand curve QUESTION 7. "In our model of decision making under different conditions, what is the difference between risk and uncertainty?" "Under risk, there is a well defined problem; under uncertainty, the definition is unclear" "Under risk, information is reliable; under uncertainty, it is not" "Under risk, probabilities can be measured; under uncertainty, they cannot" "Under risk, choices are clear and the chances of different outcomes can be measured; under uncertainty, neither applies" QUESTION 8. An indifference curve shows combinations of two goods that: could be available to the consumer in a given time period would provide the consumer with the same level of satisfaction could provide the consumer with similar levels of satisfaction a consumer could buy with their given income. QUESTION 9. Law of demand shows relation between: Income and price of commodity Price and quantity of a commodity Income and quantity demand Quantity demanded and quantity supplied QUESTION 10. The situation in which limited resources are being used most effectively is called: efficient economic abundant scarce We Also Provide SYNOPSIS AND PROJECT. Contact www.kimsharma.co.in for best and lowest cost solution or Email: amitymbaassignment@gmail.com Call: +91 82907-72200 (Call/WhatsApp) or +91 88003-52777 (WhatsApp Only) QUESTION 11. People and organizations have to make choices about how to allocate time and money because of government rules and regulations corporate control of our lives scarcity of time and money religious values QUESTION 12. The three fundamental questions of economic organization are: "when, for whom, and how" "how, what, and for whom" "who, how, and when" "what, who, and why" QUESTION 13. Coefficient of elasticity of demand is negative. It means: Consumers sometimes buy negative units of commodity Price and quantity demanded move in same capital Law of demand holds The two goods are complimentary to each other QUESTION 14.The opportunity cost of a particular activity is the same for everyone pursuing this activity may include both monetary costs and forgone income always decreases as more of that activity is pursued usually is known with certainty e. measures the direct benefits of that activity QUESTION 15. Increase in demand is shown by: Upward movement on the demand curve Downward movement on the demand curve Rightward shift of the demand curve Leftward shift of the demand curve QUESTION 16. "In the case of a Giffen good, the demand curve will be:" Horizontal Downward-sloping to the right. Vertical Upward-sloping to the right QUESTION 17. "Customers will be ready to purchase a specified quantity of a product, at a specified price, if marginal utility of further spending is equivalent to the" Cost opportunity cost revenue product cost QUESTION 18. Tastes & first choices are determinants of supply demand demand curve elasticity QUESTION 19. Ostentation means goods purchased not for _______ but for snob appeal. Utility Direct satisfaction Demand None of these QUESTION 20. This is an assumption of law of demand: Price of the commodity should not change Quantity should not change Supply should not change Income of consumer should not change We Also Provide SYNOPSIS AND PROJECT. Contact www.kimsharma.co.in for best and lowest cost solution or Email: amitymbaassignment@gmail.com Call: +91 82907-72200 (Call/WhatsApp) or +91 88003-52777 (WhatsApp Only)

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