BUSINESS ADMINISTRATION
BUSINESS ECONOMICS
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
Should our firm be in this business?
|
|
|
How much should be produced and at price should be kept?
|
|
|
How will the product be placed in the market?
|
|
|
How should we decrease unemployment in the economy?
|
Detailed explanation-1: -The correct answer is (a) Should our firm be in this business?
Detailed explanation-2: -Business economics encompasses subjects such as the concept of scarcity, product factors, distribution, and consumption. Managerial economics is one important offshoot of business economics.
Detailed explanation-3: -CONSUMER’S EQUILIBRIUM is not included in the macro economics. It is a micro economic property since it is dealt with indivudual units of economy whereas the other options deal the economy as a whole. They are included in the National Income whereas CONSUMER’S Equilibrium is not included.
Detailed explanation-4: -Taking all these things in view, five sub-divisions–consumption, production, investment, distribution and public finance etc. and other actins are being studied, under the subject matter of Economics. (1) Consumption–Consumption is a chief subdivision of Economics.
Detailed explanation-5: -Answer. Fair remuneration to employees and Planting trees at the roadside are not economic objectives of a business.