Which of the following is/are the characteristic(s) of Business Economics ? i. Business economics is…
The correct characteristics are i, iii and iv. Business economics applies microeconomic theory, especially the theory of the firm, to business decisions and uses both…
Choose your answer
Which of the following is/are the characteristic(s) of Business Economics ?
i. Business economics is micro economic in character.
ii. It is positive in nature.
iii. It is both conceptual and metrical.
iv. Its contents are based mainly on the theory of firm.
Answer and explanation
Correct answer C
The correct characteristics are i, iii and iv. Business economics applies microeconomic theory, especially the theory of the firm, to business decisions and uses both conceptual analysis and quantitative measurement. Its decision-oriented character is normative rather than purely positive.
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Karnataka SET (KSET)