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Objective Questions

Latest CA Foundation Exam Question (Objective Questions), MCQ in English

Subjects : Business Economics

Question Bank CA Foundation Exam Paper IV - English
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Business Economics

Question 1Single Answer
Business Economics is also known as:
  1. A
    Pure Economics
  2. B
    Applied Economics
  3. C
    Public Economics
  4. D
    Descriptive Economics
Question 2Single Answer
Business Economics primarily focuses on:
  1. A
    Theoretical economics
  2. B
    Managerial decision-making
  3. C
    National income estimation
  4. D
    Welfare distribution
Question 3Single Answer
Business Economics is a:
  1. A
    Descriptive science
  2. B
    Normative science
  3. C
    Positive science
  4. D
    Both b and c
Question 4Single Answer
Microeconomics is concerned with:
  1. A
    The economy as a whole
  2. B
    Government income
  3. C
    Individual units like a firm or household
  4. D
    Aggregate demand
Question 5Single Answer
Macroeconomics deals with:
  1. A
    Individual consumer behavior
  2. B
    Industry-specific production
  3. C
    Aggregates like national income and employment
  4. D
    Demand and supply of a product
Question 6Single Answer
The primary objective of Business Economics is:
  1. A
    Estimating inflation
  2. B
    National policy making
  3. C
    Optimizing business decisions
  4. D
    Collecting statistical data
Question 7Single Answer
Which of the following is not a feature of Business Economics?
  1. A
    Use of macroeconomic tools
  2. B
    Based on microeconomic principles
  3. C
    Goal-oriented
  4. D
    Practical in nature
Question 8Single Answer
Business Economics helps in:
  1. A
    Framing fiscal policy
  2. B
    Price determination in the market
  3. C
    Estimating population
  4. D
    Identifying social problems
Question 9Single Answer
The scope of Business Economics includes:
  1. A
    Demand analysis
  2. B
    Cost and production analysis
  3. C
    Pricing decisions
  4. D
    All of the above
Question 10Single Answer
Who is considered the father of Economics?
  1. A
    Alfred Marshall
  2. B
    Karl Marx
  3. C
    Adam Smith
  4. D
    John Maynard Keynes
Question 11Single Answer
The book “Wealth of Nations” was authored by:
  1. A
    Alfred Marshall
  2. B
    Adam Smith
  3. C
    Paul Samuelson
  4. D
    Robbins
Question 12Single Answer
Which economist defined Economics as “science of wealth”?
  1. A
    Alfred Marshall
  2. B
    Adam Smith
  3. C
    Lionel Robbins
  4. D
    John Keynes
Question 13Single Answer
Who defined Economics as “science of choice making”?
  1. A
    Lionel Robbins
  2. B
    Adam Smith
  3. C
    Marshall
  4. D
    Keynes
Question 14Single Answer
Who introduced the concept of “invisible hand” in economics?
  1. A
    Adam Smith
  2. B
    Alfred Marshall
  3. C
    Karl Marx
  4. D
    Keynes
Question 15Single Answer
The definition of economics as “study of man in ordinary business of life” is given by:
  1. A
    Adam Smith
  2. B
    Alfred Marshall
  3. C
    Lionel Robbins
  4. D
    J.S. Mill
Question 16Single Answer
Which of the following is considered as a normative statement?
  1. A
    Inflation rate is %
  2. B
    Unemployment has decreased
  3. C
    Government should reduce taxes
  4. D
    GDP grew by %
Question 17Single Answer
Positive economics deals with:
  1. A
    What ought to be
  2. B
    Moral judgments
  3. C
    What is and what was
  4. D
    Welfare of people
Question 18Single Answer
Which is not a characteristic of microeconomics?
  1. A
    Studies national income
  2. B
    Individual firm decision-making
  3. C
    Price mechanism
  4. D
    Resource allocation
Question 19Single Answer
Business Economics uses tools from:
  1. A
    History
  2. B
    Sociology
  3. C
    Economics and Mathematics
  4. D
    Political Science
Question 20Single Answer
Which branch of economics studies aggregate demand and supply?
  1. A
    Business economics
  2. B
    Microeconomics
  3. C
    Macroeconomics
  4. D
    Development economics
Question 21Single Answer
Scarcity in economics refers to:
  1. A
    Unlimited wants with limited resources
  2. B
    Excess of goods
  3. C
    High prices
  4. D
    Large income
Question 22Single Answer
The problem of choice arises due to:
  1. A
    Abundance
  2. B
    Scarcity
  3. C
    Full employment
  4. D
    Surplus
Question 23Single Answer
The central problems of an economy are:
  1. A
    What to produce
  2. B
    How to produce
  3. C
    For whom to produce
  4. D
    All of the above
Question 24Single Answer
The basic objective of a firm in business economics is:
  1. A
    Wealth distribution
  2. B
    Social welfare
  3. C
    Profit maximization
  4. D
    Tax collection
Question 25Single Answer
The analysis of demand elasticity helps in:
  1. A
    Tax structure
  2. B
    Wage policy
  3. C
    Pricing policy
  4. D
    Budget planning
Question 26Single Answer
Business Economics bridges the gap between:
  1. A
    Politics and Sociology
  2. B
    Theory and Practice
  3. C
    Commerce and Law
  4. D
    Supply and Demand
Question 27Single Answer
Which of the following is not a part of business economics?
  1. A
    Demand analysis
  2. B
    Production decisions
  3. C
    Legal judgments
  4. D
    Pricing policies
Question 28Single Answer
The difference between Micro and Macro economics lies in:
  1. A
    Subject matter
  2. B
    Techniques
  3. C
    Methodology
  4. D
    History
Question 29Single Answer
Opportunity cost is:
  1. A
    Cost incurred in the past
  2. B
    Cost of available alternatives
  3. C
    Cost of next best alternative foregone
  4. D
    Historical cost
Question 30Single Answer
Marginal analysis means analyzing:
  1. A
    Total impact
  2. B
    Incremental changes
  3. C
    Average impact
  4. D
    Cost of all units
Question 31Single Answer
A key assumption in economics is:
  1. A
    Limited wants
  2. B
    Unlimited resources
  3. C
    Rational behavior
  4. D
    Ignorance
Question 32Single Answer
One of the main tools of business economics is:
  1. A
    Astrology
  2. B
    Cost-benefit analysis
  3. C
    Literature review
  4. D
    Fiction writing
Question 33Single Answer
Who defined economics as “science of wealth”?
  1. A
    Alfred Marshall
  2. B
    Lionel Robbins
  3. C
    Adam Smith
  4. D
    Paul Samuelson
Question 34Single Answer
Economic theory used for business decisions is called:
  1. A
    Financial economics
  2. B
    Business economics
  3. C
    Classical economics
  4. D
    Public finance
Question 35Single Answer
Demand analysis helps a firm to understand:
  1. A
    Tax compliance
  2. B
    Future laws
  3. C
    Customer behavior and pricing
  4. D
    Public finance
Question 36Single Answer
The subject matter of economics is mainly:
  1. A
    Money and prices
  2. B
    Choice and scarcity
  3. C
    Law and justice
  4. D
    Ethics
Question 37Single Answer
Business economics is considered:
  1. A
    Descriptive
  2. B
    Policy-oriented
  3. C
    Scientific only
  4. D
    Historic
Question 38Single Answer
Which of these is an element of economic decision-making?
  1. A
    Emotions
  2. B
    Traditions
  3. C
    Objectives and constraints
  4. D
    Laws
Question 39Single Answer
All economic problems arise due to:
  1. A
    High income
  2. B
    Excess demand
  3. C
    Unlimited wants and limited resources
  4. D
    Misuse of technology
Question 40Single Answer
Business economics combines economics with:
  1. A
    Chemistry
  2. B
    Management science
  3. C
    Botany
  4. D
    History
Question 41Single Answer
The term ‘Economics’ is derived from the Greek word ‘Oikonomia’ which means:
  1. A
    Agriculture
  2. B
    Production
  3. C
    Household management
  4. D
    Public policy
Question 42Single Answer
The central focus of Business Economics is on:
  1. A
    National policies
  2. B
    Political decisions
  3. C
    Firm-level decision making
  4. D
    International law
Question 43Single Answer
Who introduced the scarcity definition of Economics?
  1. A
    Adam Smith
  2. B
    Alfred Marshall
  3. C
    Lionel Robbins
  4. D
    Paul Samuelson
Question 44Single Answer
Which of the following is not included in Business Economics?
  1. A
    Demand forecasting
  2. B
    Market structure analysis
  3. C
    National income accounting
  4. D
    Pricing decisions
Question 45Single Answer
A normative economic statement is:
  1. A
    Based on facts
  2. B
    Descriptive
  3. C
    Objective
  4. D
    Value-based
Question 46Single Answer
Business Economics mainly deals with:
  1. A
    Entire economy
  2. B
    Economic theory only
  3. C
    Economic aspects of business decisions
  4. D
    Political science
Question 47Single Answer
Business economics is different from pure economics as it is more:
  1. A
    Philosophical
  2. B
    Normative
  3. C
    Theoretical
  4. D
    Practical and decision-oriented
Question 48Single Answer
Which of the following statements is true?
  1. A
    Microeconomics deals with national issues
  2. B
    Macroeconomics is concerned with individual choices
  3. C
    Microeconomics studies individual economic units
  4. D
    Business economics ignores consumer preferences
Question 49Single Answer
Which of the following is a feature of business economics?
  1. A
    Abstract reasoning
  2. B
    Historical narration
  3. C
    Normative and applied in nature
  4. D
    Study of ethics
Question 50Single Answer
Which of the following is not a component of business decision making?
  1. A
    Government budget
  2. B
    Demand analysis
  3. C
    Cost analysis
  4. D
    Pricing decisions
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