Economic Activity In Companies As The Object Of Study In BA

Question 0

What are the three forms of economic principle?

Answer 0

• Maximum principle
• Minimum principle
• Optimum principle

Question 1

What is the economic principle?

Answer 1

A principle which says that the ratio between the production results (output or return) and the production effort (input or expenses) should be optimised

Question 2

What is the maximum principle?

Answer 2

A principle that says that the given resources (or input) should be used to achieve maximum output

Question 3

What is the minimum principle?

Answer 3

A principle that says that a minimum of resources (input) should be used to achieve a specific goal (output)

Question 4

What is the optimum principle?

Answer 4

A principle that says that the ratio between resource utilisation (input) ans result (output) should be optimised

(The same as the economic principle)

Question 5

What is the object of study in microeconomics?

Answer 5

The economic aspects of the company