Quiz on Managerial Economics

Quiz on Managerial Economics

12th Grade

15 Qs

quiz-placeholder

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Quiz on Managerial Economics

Quiz on Managerial Economics

Assessment

Quiz

Engineering

12th Grade

Practice Problem

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Created by

vinjamuri Kamesh

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15 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the primary focus of Managerial Economics?

Studying historical economic data

Making informed business decisions

Analyzing market trends

Understanding consumer behavior

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following best describes the Law of Demand?

Demand is constant regardless of price

As price decreases, demand decreases

As price increases, demand decreases

Demand increases with an increase in income

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does demand elasticity measure?

The average price of goods

The change in demand due to price changes

The total demand in the market

The relationship between supply and demand

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which type of demand elasticity indicates that demand is highly responsive to price changes?

Inelastic demand

Unitary elastic demand

Perfectly inelastic demand

Elastic demand

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a key factor in demand forecasting?

Consumer income levels

Government regulations

Current market prices

Historical sales data

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which method is commonly used for demand forecasting?

Qualitative analysis

Random sampling

Cost-benefit analysis

Market segmentation

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does the term 'demand forecasting' refer to?

Estimating future demand for a product

Calculating current demand

Analyzing past sales data

Determining production costs

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