Tag: business economics and quantitative methods

Questions Related to business economics and quantitative methods

Which of these are outside the domain of Microeconomics?

business economics and quantitative methods introduction to micro economics microeconomics and macroeconomics : introduction economic ideas of j k mehta micro and macro economics

  1. Consumer behaviour

  2. Factor pricing

  3. Economic growth

  4. Study of firm

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Correct Option: C
Explanation:

Economic growth is outside the domain of Microeconomics. Microeconomics is that part of economics which deals with the individual units of the economy and not the issues that occur on a national scale like, economic growth and employment. It takes into account the demand and supply of individual units. 

Macroeconomics focuses primarily on __________.

business economics and quantitative methods introduction to micro economics microeconomics and macroeconomics : introduction economic ideas of j k mehta micro and macro economics

  1. unemployment, inflation, economic growth, and other aggregate economic phenomena

  2. pricing of essential commodities

  3. changing in consumer preference

  4. consumer purchasing patterns

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Correct Option: A
Explanation:

The term ‘Macro’ means large. So Macroeconomics is that part of economics which studies the economic problems and issue that are on a large scale. It studies about the performance of the economy as a whole and not of any individual firm or business. It focuses on the study of problems like inflation, unemployment, poverty, etc. 

____________ is outside the domain of macroeconomics.

business economics and quantitative methods introduction to micro economics microeconomics and macroeconomics : introduction economic ideas of j k mehta micro and macro economics

  1. Consumer behaviour

  2. National income

  3. Economic growth

  4. Balance of payment and trade

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Correct Option: A
Explanation:

  • Macroeconomics is that part of economics which studies the economic problems and issue that are on a large scale. 
  • It studies about the performance of the economy as a whole and not of any individual firm or business. 
  • Thus national income, economic growth and balance of payments and trade are the concern of macro economics whereas consumer behavior is the concern of micro economics.  


Study of the overall behavior of the economy is called ______.

business economics and quantitative methods introduction to micro economics microeconomics and macroeconomics : introduction economic ideas of j k mehta micro and macro economics

  1. normative economics

  2. positive economics

  3. macroeconomics

  4. microeconomics

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Correct Option: C
Explanation:

Macroeconomics
1. It is that part of economics which deals with the economic issues that take place on a large scale. 
2. It takes into account aggregate demand and aggregate supply.  
3. It aims to determine income and employment level of the economy. 
4. Example: National income, National output.

___________ is the study that considers aggregate behaviour, and the study of the sum of individual economic decisions.

business economics and quantitative methods introduction to micro economics microeconomics and macroeconomics : introduction economic ideas of j k mehta micro and macro economics

  1. Normative economics

  2. Positive economics

  3. Macroeconomics

  4. Microeconomics

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Correct Option: C
Explanation:

Macroeconomics
1. It is that part of economics which deals with the economic issues that take place on a large scale. 
2. It takes into account aggregate demand and aggregate supply.  
3. It aims to determine income and employment level of the economy. 
4. Example: National income, National output.

___________ is/are in the domain of macroeconomics.

business economics and quantitative methods introduction to micro economics microeconomics and macroeconomics : introduction economic ideas of j k mehta micro and macro economics

  1. Hardening of interest rates

  2. Strengthening of rupee against dollar

  3. Stagnation of economic growth

  4. All of the above

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Correct Option: D
Explanation:

All these options are the concerns of Macro economics. The term ‘Macro’ means large. So Macroeconomics is that part of economics which studies the economic problems and issue that are on a large scale. It studies about the performance of the economy as a whole and not of any individual firm or business. It focuses on the study of problems like inflation, unemployment, poverty, etc. 

To study the impact of increase in CRR on inflation is the subject matter of ___________.

business economics and quantitative methods introduction to micro economics microeconomics and macroeconomics : introduction economic ideas of j k mehta micro and macro economics

  1. normative economics

  2. positive economics

  3. macroeconomics

  4. microeconomics

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Correct Option: C
Explanation:

The study of impact of increase in CRR on inflation is the subject matter of macro economics. 

The term ‘Macro’ is derived from the Greek word 'Makro' meaning large. So Macroeconomics is that part of economics which studies the economic problems and issue that are on a large scale. It studies about the performance of the economy as a whole and not of any individual firm or business. It focuses on the study of problems like inflation, unemployment, poverty, etc.  

Which of these is outside the scope of Micro economics?

business economics and quantitative methods introduction to micro economics microeconomics and macroeconomics : introduction economic ideas of j k mehta micro and macro economics

  1. Consumer behaviour

  2. National income

  3. Factor pricing

  4. None

Show answer
Correct Option: B
Explanation:

Calculation of national income falls under the concept of macro-economics.Hence it is outside the concept of Micro economics.

The study of impact of increase in money supply on general price level of employment is the subject matter of ____________.

business economics and quantitative methods introduction to micro economics microeconomics and macroeconomics : introduction economic ideas of j k mehta micro and macro economics

  1. normative economics

  2. positive economics

  3. macroeconomics

  4. microeconomics

Show answer
Correct Option: C
Explanation:

The study of increase in money supply or general price or level of employment is the subject matter of macro economics. 

The term ‘Macro’ is derived from the Greek word 'Makro' meaning large. So Macroeconomics is that part of economics which studies the economic problems and issue that are on a large scale. It studies about the performance of the economy as a whole and not of any individual firm or business. It focuses on the study of problems like inflation, unemployment, poverty, etc.  

The terms micro economics and macro economics were coined by ______________.

business economics and quantitative methods introduction to micro economics microeconomics and macroeconomics : introduction economic ideas of j k mehta micro and macro economics

  1. Prof. A Samuelson

  2. Griffin

  3. Eagle

  4. Prof. Ragner Frisch

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Correct Option: D
Explanation:

Ragnar Anton Kittil Frisch was a Norwegian economist . He coined the term micro economics and macro economics .Macro economics deals the economy as a whole. In micro economics , study of economics is done from an individual point of view.