UNIT-1

1 - MARKS QUESTIONS
1.) Management practitioners and academicians brought economics to their perspective and developed __________________. A. Economics of country C. financial Economics B. Managerial Economics D. Economics

2.)

__________________is a science that deals with the application of various economic theories, principles, concepts and techniques to business managementproblems. A. Economics C. Macro economics B. Management D. Microeconomics

3.)

who gives this defination? "Managerial economics is the integration of economic theory with business practice for the purpose of faciliting decision making and forward planning by the management." A. spencer and seigelman C. Brighman and pappas B. D. Mc nair and mariam Spencer and brighman

Economics is more ______________pragamatic and highlights on ___________ 4.) application of various economics theories to solve business and management problems. A. Realistic, Practical B. practical, Realistic C.In Realistic,practical D. theorical, programic 5.) Managerial Economics is Science of_________________. A. Power C. Decision Making B. process D. decision Power

6.)

Managerial Economics also gives importance to the study of _______________ Variables having implications of economic performance of the firm.

A. Management C. Economics

B. non-Economic D. financial

7.)

Managerial Economics provides only the __________and _______________ to find out answers and not the answers themselves.

A. data,programmes C. Logic and methodology

B. methods and formulas D. Questions , analysis

8.)

production implies transformation to ________ into________ It may either in production or monetary terms. A. inputs , outputs C. product , dispatch B. wastage , Material D. Data , planning

9.)

A firm is basically _______ or __________ unit. A. NGO , Business C. Profit , Nonprofit B. Commercial , Business D. small , Large

10.)

___________ Provides a framework on which long term decisions can be made which have an impact on the behavior of the firm. A. Strategic Planning C. Staffing B. Organising D. Decision- making

11.)

the integration of business economics and strategic planning has given rise to a new area of study called ____________________.

A. C. 12.)

Financial Economics Strategic Economics

B. Corporate finance D. Corporate Economics

___________ and ___________ are described as the two major functions of managerial economist. A. Decision Making , forward Planning B. Management , Economic C. Corporate Economy , Financial economy D. Staffing , Decision Making

2 - Mark Questions

1.)

Production implies A Modifying the product

B C D 2.)

Transfermation of inputs into output Planning of production process Maximization of production

A managerial economist is A B C D Manager of company Market watcher Specialist and Experts management Experts

3.)

Simply, Pricing decision is related to A B C D Maximization of profit of the firm Fixing the prices of goods and Services Decreases the price of particular product Discount policies of company

4.)

Macroeconomic management of the country relating to A B C D Economic system, national income , trade cycle savings etc. pricing policies , pricing methods practies , policies etc. Profit management , capital management etc. Strategic planning , and cost analysis

5.)

Managerial economics helps in A B C D product management of company Optimum use of scarce resources to maximize profit collecting exeact figures of market demand provide technical knowledge about use of Scarce resources.

4 - mark questions

1.)

Identify the incorrect answers ? Scope of managerial economics includes. A B C D Objective of firm , demand forecasting pricing decision , policies and practise Linear Programming Business and employment cycle

2.)

Who gives this defination? "is application of economic theory and methodology to business administration practice". A B C spencer and seigelman Mc nair and mariam Brighman and pappas

D 3.)

Spencer and mariam

Managerial economics is basically a branch of which economics. A B C D macro Micro Discreptive Prespective

nd formulas , analysis

l economy

Unit-1 answers 1 - Mark Questions 1D 2A 3B 4A 5C 6 B. 7C 8A 9B 10 A 11 D 12 A

2 - mark Questions 1B 2C 3B 4A 5B

4 - mark Questions 1D 2C 3B