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Test: Nature And Scope Of Business- 2


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20 Questions MCQ Test Business Economics for CA Foundation | Test: Nature And Scope Of Business- 2

Test: Nature And Scope Of Business- 2 for CA CPT 2022 is part of Business Economics for CA Foundation preparation. The Test: Nature And Scope Of Business- 2 questions and answers have been prepared according to the CA CPT exam syllabus.The Test: Nature And Scope Of Business- 2 MCQs are made for CA CPT 2022 Exam. Find important definitions, questions, notes, meanings, examples, exercises, MCQs and online tests for Test: Nature And Scope Of Business- 2 below.
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Test: Nature And Scope Of Business- 2 - Question 1

Wastes of competition are found in—

Test: Nature And Scope Of Business- 2 - Question 2

A dual system of pricing exists in—

Test: Nature And Scope Of Business- 2 - Question 3

One of the important features of capitalist economy is—

Test: Nature And Scope Of Business- 2 - Question 4

‘A government deficit will reduce unemployment and cause an increase in prices.’ This statement is—

Test: Nature And Scope Of Business- 2 - Question 5

Positive economics remains strictly neutral towards ends. This means that—

Test: Nature And Scope Of Business- 2 - Question 6

“During the boom periods when aggregate demand, national income and prices are high, entrepreneurs tend to make high profits”. This statement shows—

Test: Nature And Scope Of Business- 2 - Question 7

Social insurance, sickness benefits, old age pension, etc are some social benefits provided by—

Test: Nature And Scope Of Business- 2 - Question 8

In a capitalistic economy what to produce depends on—

Test: Nature And Scope Of Business- 2 - Question 9

The economy in which the government allows freedom of action of all economic units is essentially—

Test: Nature And Scope Of Business- 2 - Question 10

Which of the following is not correct about capitalistic system—

Test: Nature And Scope Of Business- 2 - Question 11

Which of the following is not the feature of socialist economy ?

Test: Nature And Scope Of Business- 2 - Question 12

Micro economics is also known as—

Test: Nature And Scope Of Business- 2 - Question 13

Economics is an art as—

Test: Nature And Scope Of Business- 2 - Question 14

Study of the problem of poverty denotes that economics is—

Test: Nature And Scope Of Business- 2 - Question 15

Framing suitable policies to solve inequalities of income denotes that economics is—

Test: Nature And Scope Of Business- 2 - Question 16

Study of unemployment problem and then framing suitable policies to reduce the extent of unemployment shows that economics is—
(i) Both a science and an art
(ii) Neither a science nor an art
(iii) Positive science
(iv) Normative science

Detailed Solution for Test: Nature And Scope Of Business- 2 - Question 16

Study of unemployment problem and then framing suitable policies to reduce the extent of unemployment shows that economics is a science, art and positive and normative in nature. 

Study of unemployment is based on study of facts and data, this makes it a positive science. Framing suitable policies for the same is art as it is the practical application of knowledge and it is also a normative science as it suggests measure to make the situation desirable.  

Test: Nature And Scope Of Business- 2 - Question 17

_____ economics explains cause and effect relationship between economic phenomena

Test: Nature And Scope Of Business- 2 - Question 18

Positive economics concerns .

Test: Nature And Scope Of Business- 2 - Question 19

Normative economics is in nature

Test: Nature And Scope Of Business- 2 - Question 20

Based on the following conversation
Ram : “Rise in prices of goods have made it difficult to make two ends meet”
Shyam : “Yes, the cost of cultivation too has increased very much”.
Raghu : “Government should take steps to curb the price rise and provide relief to common man”.
Bhola : “Yes, he government should deal strictly on hoarders and black marketers”.
Q. In the above conversation whose statements shows positive aspect of Economics?

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