Management : Chapter 6 - Economics for Managerial Decisions
Prepared by Joshi Paul, Sarvodayam V H S S Aryampadam, Thrissur
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1. .......... is the excess of revenue over cost. *
1 point
2. Father of Modern economics is ............ *
1 point
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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