Business Economics
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Questions and Answers

What was 19th century Economics known as?

  • Capitalist Economics
  • Political Economy (correct)
  • Social Economics
  • Market Economics

    • Who wrote 'The wealth of Nations' in 1776?

  • Karl Marx
  • John Maynard Keynes
  • David Ricardo
  • Adam Smith (correct)

    • What is the fundamental fact about human beings as mentioned in the text?

  • Human beings have unlimited wants (correct)
  • Human beings have fixed wants
  • Human beings have limited wants
  • Human beings have fluctuating wants

    • What does decision making in business economics refer to?

    <p>Selecting an appropriate alternative for attaining a desired end</p> Signup and view all the answers

    What does business economics integrate according to the text?

    <p>Economics theory with business practice</p> Signup and view all the answers

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