1. Managerial Economics deals with decision making process of Managers and Producers

a. True

b. False

2. A market is said to exist, if there are sellers willing to sell regardless of whether the buyers exist or not

a. True

b. False

3. A market fails to exist for a particular commodity if it is non-excludable

a. True

b. False

4. On important function of the market mechanism is that it helps us to allocate resources

a. True

b. False