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Which of the following statement is incorrect?
- a)Business economics is a normative in nature
- b)Business economics is closely related with statistics
- c)Business economics only considers micro variables
- d)Business economics is also called Managerial economics
Correct answer is option 'C'. Can you explain this answer?
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Most Upvoted Answer
Which of the following statement is incorrect?a)Business economics is ...
Incorrect Statement: Business economics only considers micro variables.
Explanation:
Business economics is a branch of economics that applies economic theory and quantitative methods to analyze business enterprises and the factors contributing to the diversity of organizational structures and the relationships of firms with labour, capital, and product markets. It is a normative science that offers prescriptions or recommendations for improving managerial decision-making. It is closely related to statistics, as it makes use of statistical tools and techniques to analyze and interpret business data.
Business economics considers both micro and macro variables. Microeconomics deals with the study of individual economic units, including individuals, households, and firms, while macroeconomics deals with the study of the economy as a whole, including national income, employment, inflation, and monetary and fiscal policies. Business economics considers both micro and macro variables in analyzing business decisions and strategies.
Therefore, the incorrect statement is option C, i.e., Business economics only considers micro variables.
Explanation:
Business economics is a branch of economics that applies economic theory and quantitative methods to analyze business enterprises and the factors contributing to the diversity of organizational structures and the relationships of firms with labour, capital, and product markets. It is a normative science that offers prescriptions or recommendations for improving managerial decision-making. It is closely related to statistics, as it makes use of statistical tools and techniques to analyze and interpret business data.
Business economics considers both micro and macro variables. Microeconomics deals with the study of individual economic units, including individuals, households, and firms, while macroeconomics deals with the study of the economy as a whole, including national income, employment, inflation, and monetary and fiscal policies. Business economics considers both micro and macro variables in analyzing business decisions and strategies.
Therefore, the incorrect statement is option C, i.e., Business economics only considers micro variables.
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Community Answer
Which of the following statement is incorrect?a)Business economics is ...
As business economics not only consider micro variables but also consider some of the variables of Macro economics(In Nature of Business economics there is point of incorporates elements of macro analysis) may this ans helps you.
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Which of the following statement is incorrect?a)Business economics is a normative in natureb)Business economics is closely related with statisticsc)Business economics only considers micro variablesd)Business economics is also called Managerial economicsCorrect answer is option 'C'. Can you explain this answer?
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Which of the following statement is incorrect?a)Business economics is a normative in natureb)Business economics is closely related with statisticsc)Business economics only considers micro variablesd)Business economics is also called Managerial economicsCorrect answer is option 'C'. Can you explain this answer? for CA CPT 2024 is part of CA CPT preparation. The Question and answers have been prepared according to the CA CPT exam syllabus. Information about Which of the following statement is incorrect?a)Business economics is a normative in natureb)Business economics is closely related with statisticsc)Business economics only considers micro variablesd)Business economics is also called Managerial economicsCorrect answer is option 'C'. Can you explain this answer? covers all topics & solutions for CA CPT 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Which of the following statement is incorrect?a)Business economics is a normative in natureb)Business economics is closely related with statisticsc)Business economics only considers micro variablesd)Business economics is also called Managerial economicsCorrect answer is option 'C'. Can you explain this answer?.
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