Management : Chapter 6 - Economics for Managerial Decisions

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Prepared by Joshi Paul, Sarvodayam V H S S Aryampadam, Thrissur

Your Name *

Your School *

1. .......... is the excess of revenue over cost. *

1 point

Expense

Profit

Loss

Capital

2. Father of Modern economics is ............ *

1 point

Alfred Marshall

Lionel Robbins

Paul a Samuelson

Adam Smith

Match the following *

3 points

Direct Demand

Industry Demand

Derived Demand

3. Demand for entire industry

4. Demand for Consumer goods

5. Demand for Capital goods

6. Price of a product falls, its quantity demanded increases *

1 point

7. Increase in the price of a product leads to increase in quantity supplied *

1 point

Match the following *

3 points

Lionel Robbins

Adam Smith

Alfred Marshall

8. Wealth Definition

9. Welfare Definition

10. Scarcity Definition

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