MBA/MBA Business Economics MCQ Set 1 Sample Test,Sample questions

Question:
13th Finance Commission has been constituted under the chairmanship of:

1.C.Rangarajan

2.Vijay L Kelkar

3.Deepak Parekh

4.Indira Bhargara


Question:
Basic assumptions of law of demand include

1.Prices of other goods should change.

2.There should be substitute for the commodity.

3.The commodity should not confer any distinction.

4.The demand for the commodity should not be continuous


Question:
Car and petrol are

1.Complimentary goods

2.Substitute goods

3.Supplementary goods

4.Reserve goods


Question:
Cost plus pricing is also called

1.margin pricing

2.full cost pricing

3.mark up pricing

4.All the above.


Question:
Criteria for good demand forecasting includes;

1.Plausibility

2.Simplicity

3.Economy

4.All the above.


Question:
Customary pricing is also known as

1.Consumer pricing

2.Conventional pricing

3.Cost plus pricing

4.Full cost pricing


Question:
Ep=0in the case of ______________ elasticity

1.Perfectly elastic demand

2.Perfectly inelastic demand

3.Relative elastic demand

4.Unitary elastic demand


Question:
Generally used strategy for pricing new products is/are

1.Skimming price strategy

2.Penetration price strategy

3.Both a & b

4.None of these


Question:
Higher the price of certain luxurious articles, higher will be the demand, this concept is called

1.Giffen effects

2.Veblen effects

3.Demonstration effects

4.Bothb&cabove


Question:
In economics, desire backed by purchasing power is known as

1.Utility

2.Demand

3.Consumption

4.Scarcity


Question:
In the case of perfect elasticity, the demand curve is

1.Vertical

2.Horizontal

3.Flat

4.Steep


Question:
In the case of ______________ a small change in price leads to very big change in quantity demanded

1.Perfectly elastic demand

2.Perfectly inelastic demand

3.Relative elastic demand

4.Unit elastic demand


Question:
In ______________ approach, on the basis of the growth of an established product, the demand for the new product is estimated

1.Growth curve approach

2.Evolutionary approach.

3.Opinion polling approach

4.vicarious approach


Question:
In ______________ approach, the demand for new product is estimated on the basis demand of existing product

1.Growth curve approach

2.Evolutionary approach.

3.Opinion polling approach

4.Vicarious approach.


Question:
In ______________ pricing fixed cost are excluded.

1.skimming pricing

2.going rate pricing

3.administered pricing

4.marginal cost pricing


Question:
Iso-cost line indicate the price of

1.Output

2.Inputs

3.Finished goods

4.Raw material


Question:
Law of demand shows the functional relationship between ______________ and quantity demanded

1.Supply

2.Cost

3.Price

4.Requirements


Question:
Managerial Economics is

1.Dealing only micro aspects

2.Only a normative science

3.Deals with practical aspects

4.All of the above


Question:
Method of demand forecasting is also called "economic model building"

1.Opinion survey

2.Complete enumeration

3.Correlation and regression

4.Delphi method


Question:
Outlay method of measurement of elasticity is also called as

1.Percentage method

2.Expenditure method

3.Point method

4.Geometric method


Question:
Perfect competition is characterized by

1.large number of buyers and sellers

2.homogeneous product

3.free entry and exit of firms

4.All the above.


Question:
Product differentiation is the important feature of

1.monopoly

2.perfect competition

3.monopolistic competition

4.monophony


Question:
Psychological pricing is also called as;

1.Penetration pricing

2.Skimming pricing

3.Odd pricing

4.None of these


Question:
Purposes of Short term Demand forecasting doesn’t includes;

1.Making a suitable production policy.

2.To reduce the cost of purchasing raw materials and to control inventory.

3.Deciding suitable price policy

4.Planning of a new unit or expansion of existing unit


Question:
Survey method of demand forecasting includes

1.Opinion survey

2.Expert opinion

3.Delphi method

4.All the above.


Question:
Tea and coffee are

1.Complimentary goods

2.Substitute goods

3.Supplementary goods

4.Reserve goods


Question:
The architect of the theory of monopolistic competition

1.Rosenstein Roden

2.JR Hicks

3.Karl Marx

4.Chamberlin


Question:
The distinction between variable cost and fixed cost is relevant only in

1.long period

2.short period

3.medium term

4.mixed period


Question:
The function of combining the other factors of production is done by

1.land

2.labour

3.Capital

4.Entrepreneurship


Question:
The market with a single producer''

1.perfect competition

2.monopolistic competition

3.oligopoly

4.monopoly


Question:
The proportionate change in the quantity demanded of a commodity in response to change in the price of another related commodity is called

1.Price elasticity

2.Related elasticity

3.Cross elasticity

4.Income elasticity


Question:
The relationship between price and quantity demanded is

1.Direct

2.Inverse

3.Linear

4.Non‐linear


Question:
The responsiveness of demand due to a change in promotional expenses is called

1.Expenditure elasticity

2.Advertisement elasticity

3.Promotional elasticity

4.Above b or c


Question:
The short run production function is called;

1.Returns to scale

2.law of variable proportion

3.Production possibility frontier

4.None of these


Question:
The techniques of optimization include

1.Marginal analysis

2.Calculus

3.Linear programming

4.All of the above


Question:
Want satisfying power of commodity is called

1.Demand

2.Utility

3.Satisfaction

4.Consumption


Question:
When the change in demand is exactly equal to the change in price, it is called

1.Perfectly elastic demand

2.Perfectly inelastic demand

3.Relative elastic demand

4.Unitary elastic demand


Question:
Whenever ______________ is greater than average total cost, average total cost is rising.

1.Marginal cost

2.Variable cost

3.Fixed cost

4.Full cost


Question:
Which are the characteristics of monopoly?

1.Single seller or producer

2.No close substitutes

3.Inelastic demand curve

4.All of these


Question:
Which of the following is not a macroeconomic concept?

1.Business cycle

2.National income

3.Government policy

4.None of these


Question:
Which of the following is not a method of demand forecasting of new products

1.Trend projection

2.Substitute approach

3.Evolutionary approach

4.Sales experience approach


Question:
Which one is the method for measurement of elasticity

1.Proportional or Percentage Method

2.Outlay Method

3.Geometric method

4.All the above.


Question:
Which one is the method for measurement of elasticity

1.Proportional or Percentage Method

2.Outlay Method

3.Geometric method

4.All the above.


Question:
Which one of the following is not a reason for adopting penetration price strategy

1.Product has high price elasticity in the initial stage.

2.The product is accepted by large number of customers.

3.Economies of large scale production available to firm

4.When the buyers are not able to compare the value and utility


Question:
Who classified economies of scale into internal and external?

1.Robinson

2.Marshall

3.Edward west

4.Pigue


Question:
____ is the change in total revenue irrespective of changes in price or due to the effect of managerial decision on revenue

1.Average revenue

2.Total revenue

3.Marginal revenue

4.Incremental revenue


Question:
_____ is the process of finding current values of demand for various values of prices and other determining variables.

1.Demand Estimation

2.Demand analysis

3.Demand function

4.Demand forecasting


Question:
_____ means the total receipts from sales divided by the number of unit sold.

1.Average revenue

2.Total revenue

3.Marginal revenue

4.Incremental revenue


Question:
_______ demand forecasting is related to the business conditions prevailing in the economy as a whole

1.Macro level

2.Industry level

3.Firm level

4.None of these


Question:
_______ Method is also known as Sales-Force – Composite method or collective opinion method

1.Opinion survey

2.Expert opinion

3.Delphi method

4.Consumer interview method


Question:
________ is the base of marketing planning

1.Demand Estimation

2.Demand analysis

3.Demand function

4.Demand forecasting


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  31. MBA Behavioural and Allied Sciences MCQ Set 8
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  36. MBA Brand Management MCQ Set 3
  37. MBA Brand Management MCQ Set 4
  38. MBA Brand Management MCQ Set 5
  39. MBA Business Communication MCQ Set 1
  40. MBA Business Communication MCQ Set 2
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  56. MBA Business Environment MCQ Set 1
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  60. MBA Business Environment MCQ Set 5
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  64. MBA Business Environment MCQ Set 9
  65. MBA Business Ethics and Governance MCQ Set 1
  66. MBA Business Law Mcq Set 1
  67. MBA Business Law Mcq Set 2
  68. MBA Business Law Mcq Set 3
  69. MBA Business Law Mcq Set 4
  70. MBA Business Law Mcq Set 5
  71. MBA Business Law Mcq Set 6
  72. MBA Business Law Mcq Set 7
  73. MBA Business Law Mcq Set 8
  74. MBA Business Law Mcq Set 9
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  76. MBA Business Mathematics Mcq Set 2
  77. MBA Business Mathematics Mcq Set 3
  78. MBA Business Mathematics Mcq Set 4
  79. MBA Business Mathematics Mcq Set 5
  80. MBA Business Mathematics Mcq Set 6
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  86. MBA Computers In Management Mcq Set 4
  87. MAB Cost and Managerial Accounting Mcq Set 1
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  90. MBA Cost and Managerial Accounting Mcq Set 3
  91. MBA Cost and Managerial Accounting Mcq Set 4
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  94. MBA Cost and Managerial Accounting Mcq Set 7
  95. MBA Cost and Managerial Accounting Mcq Set 8
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  100. MBA E-Business MCQ Set 2
  101. MBA E-Business MCQ Set 3
  102. MBA E-Business MCQ Set 4
  103. MBA English Language MCQ Set 1
  104. MBA English Language MCQ Set 2
  105. MBA Entrepreneurship Management MCQ Set 1
  106. MBA Entrepreneurship Management MCQ Set 2
  107. MBA Entrepreneurship Management MCQ Set 3
  108. MBA Entrepreneurship Management MCQ Set 4
  109. MBA Entrepreneurship Management MCQ Set 5
  110. MBA Entrepreneurship Management MCQ Set 6
  111. MBA Financial Management MCQ Set 1
  112. MBA Financial Management MCQ Set 2
  113. MBA Financial Management MCQ Set 3
  114. MBA Financial Management MCQ Set 4
  115. MBA Financial Management MCQ Set 5
  116. MBA Financial Management MCQ Set 6
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  118. MBA Financial Management MCQ Set 8
  119. MBA Financial Management MCQ Set 9
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  122. MBA Financial Management MCQ Set 12
  123. MBA Human Resource Management Mcq Set 1
  124. MBA Human Resource Management Mcq Set 2
  125. MBA Human Resource Management Mcq Set 3
  126. MBA Human Resource Management Mcq Set 4
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  131. MBA Insurance and Risk Management Mcq Set 1
  132. MBA Insurance and Risk Management Mcq Set 2
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  138. MBA Management Information Systems Mcq Set 2
  139. MBA Management Information Systems Mcq Set 3
  140. MBA Management Information Systems Mcq Set 4
  141. MBA Management Information Systems Mcq Set 5
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  144. MBA Management Information Systems Mcq Set 8
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  146. MBA Marketing Management Mcq Set 1
  147. MBA Marketing Management Mcq Set 2
  148. MBA Marketing Management Mcq Set 3
  149. MBA Marketing Management Mcq Set 4
  150. MBA Marketing Management Mcq Set 5
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