Economic is classified into
Options
ANormative and positive
BMicro and macro
CInternal and external
DNone of the above
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Introduction to Business EconomicsPYQ Jun 23Question 663 of 209
All Questions Correct Answer
✅ Option b — Micro and macro
All Options:
- ANormative and positive
- BMicro and macro
- CInternal and external
- DNone of the above
About This Chapter: Introduction to Business Economics
Paper
Paper 4: Business Economics
Weightage
5%
Key Topics
Meaning, Scope, Price Mechanism
This chapter lays the groundwork for understanding Business Economics as a discipline. It covers the meaning, scope, and nature of economics — including key distinctions like Microeconomics vs Macroeconomics, Positive vs Normative economics, and the fundamental economic problem of scarcity. Students learn how businesses use economic principles for decision-making in a competitive marketplace.
View Official ICAI SyllabusExam Strategy Tip
Focus on definitions and distinctions between concepts. Questions often test whether you understand the difference between Micro and Macro, or Positive and Normative statements.
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