CA Foundation Business Economics for May 2024

1 Business Economics is a :

(a) Normative Science (b) Interdisciplinary (c) Pragmatic (d) All of these

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2 Rationale of the law of demand is:

(a) Price effect of a fall in price (b) Different uses (c) Arrival of new consumers (d) All of these

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3. Methods of demand forecasting are:

(a) Survey of Buyer’s intension (b) Collective opinion Method (c) Both (a) and (b) (d) None of these

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4. Entrepreneur has its most important function as ______

(a) Survey of Buyer’s intension (b) Collective opinion Method (c) Both (a) and (b) (d) None of these

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5. Pears, Liril & Dove are example of

(a) Perfect Competition (b) Monopoly (c) Monopolistic Competition (d) None of these

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6. Monopolist Charges different price for his commodity in discriminating monopoly implies:

(a) At different places (b) For different uses (c) From different group of consumers (d) Any of the above

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7. Variables that change before the real output changes are called:

(a) Lagging indicator (b) Leading Indicator (c) Concurrent Indicator (d) None of these

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Answer Key 1. D 2. D 3. C 4. C 5. C 6. D 7. B

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