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Question Bank, Managerial Accounting

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Managerial Economics
Unit1 - 2 Mark Quiz Questions
1.Decision-making implies a. Giving judgement on a particular isuue b. Taking a final decision on a particular issue c. Selecting the best out of several alternative course of actions d. Selecting alternative solutions. 2.Forward Planning implies a. A plan to execute current programs b. A Plan prepared in advace for future c. A plan prepared in the background of certainties d. A Plan prepared for past and present 3.Managerial Economics deals with a. Provide alternative solutions to the problems b. Providing solutions to various business and management problems c. Providing tools and techniques to find answers for business and management problems d. Analyzing various business and managerial problems of a firm. 4.Managerial Economics helps a. To optimise abundant resources to maximise profits b. To find answers only for present problems in the background of past events c. To analyse present problems in the background of past d. To find solutions for present and future problems on the basis of past and present environment

Unit2 - 2 Mark Quiz Questions
1.A product can be considered as inferior in economics if increase in disposable income of the consumer causes a. Increase in demand b. No change in demand c. Less than proportionate change in demand. d. Decrease in demand 2.Demand Schedule of a firm shows quantities of a commodity a. Purchased at varying prices at different periods of time. b. That can be purchased at varying prices c. Purchased at varying prices at a given period of time d. Purchased at a price 3.In case of prestige goods, a fall in price lead to a. A very high rise in demand b. Decrease in demand c. A small rise in demand d. Increase in demand 4.In the long run, consumption habits of people become

a. Elastic b. Inelastic c. Perfectly elastic. d. Relatively elastic

5.Market Demand Schedule

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