Multiple Choice Quiz - Results
You answered 0 out of 30 questions correctly, for a score of 0%.
1. Incorrect. You did not provide an answer.
Which of the following is the best definition of managerial economics? Managerial economics is
The correct answer was: b. a field that applies economic theory and the tools of decision science..
2. Incorrect. You did not provide an answer.
The value of an economic theory in practice is determined by
The correct answer was: c. how well the theory can predict or explain..
3. Incorrect. You did not provide an answer.
Management decision problems are comprised of three elements. Which of the following is not one of them?
The correct answer was: a. Profitability.
4. Incorrect. You did not provide an answer.
Which of the following areas of economic theory is the single most important element of managerial economics?
The correct answer was: d. Microeconomics.
5. Incorrect. You did not provide an answer.
Which of the following is defined as the study of the aggregate economy studied as a whole?
The correct answer was: c. Macroeconomics.
6. Incorrect. You did not provide an answer.
Which of the following is the discipline that studies the use of statistical tools to estimate economic models?
The correct answer was: b. Econometrics.
7. Incorrect. You did not provide an answer.
Firms do not continue to grow without limit because of
The correct answer was: a. managerial limitations..
8. Incorrect. You did not provide an answer.
The modern theory of the firm holds that firms behave in a way that is designed to maximize
The correct answer was: b. the value of the firm..
9. Incorrect. You did not provide an answer.
Which of the following functional areas of business has primary responsibility for a firm's total revenue?
The correct answer was: c. Marketing.
10. Incorrect. You did not provide an answer.
Which of