10 Questions
Which of the following is a concept of Economics?
Division of labour
What is the significance of Economics?
Solving basic economic problems
Which factor of production is concerned with the natural resources?
Land
What does the concept of Elasticity of Demand measure?
Responsiveness of quantity demanded to price changes
What is the unit of study in Micro Economics?
Economics Law and their nature
Which of the following is NOT a focus of business economics?
Analyzing business enterprises
What is the main difference between business economics and traditional economics?
Business economics is an extension of economic concepts to real business situations
Which category of microeconomics is NOT applicable to business economics?
Macroeconomics
What is the main purpose of business economics?
To apply economic theory to business management
What is the role of macroeconomic factors in business economics?
They are applied in the analysis of business economics
Test your knowledge on the historical background of economics in India, micro and macro economics, elasticity of demand, and more in this quiz on B.Com 1st Year Business Economics.
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