MBA/MBA Business Economics MCQ Set 2 Sample Test,Sample questions

Question:
An increase in income may lead to an increase in the quantity demanded, it is

1.Positive income elasticity

2.Zero income elasticity

3.Negative income elasticity

4.Unitary income elasticity


Question:
Analysis of long run and short run affects of decisions on revenue as well as costs is based on

1.Principle of time perspective

2.Equi‐marginal principle

3.incremental principle

4.None of these


Question:
Average cost pricing is also called as

1.cost plus pricing

2.marginal cost pricing

3.margin pricing

4.both a & c


Question:
Average revenue is the revenue per

1.unit commodity sold

2.total commodity sold

3.marginal commodity sold

4.None of these


Question:
Consumer Interview method of demand forecasting may undertaken by;

1.Complete enumeration

2.Sample survey

3.End‐use method

4.All the above.


Question:
Decision making and ______________ are the two important functions of executive of business firms

1.Forward planning

2.Directing

3.Supervising

4.Administration


Question:
Demand for necessary goods (salt, rice, etc,) is ______________ and demand for comfort and luxury good is

1.Elastic, inelastic

2.Inelastic, elastic

3.Elastic, elastic

4.Inelastic, inelastic


Question:
Demand for tyres depends on demand of vehicles, the demand for tyres called as

1.Composite demand

2.Derivative demand

3.Joint demand

4.Direct demand


Question:
Fixing high price during the introduction is called

1.skimming

2.penetrating

3.full cost pricing

4.target pricing


Question:
For the commodities like salt, sugar etc., the income elasticity will be

1.Zero

2.Negative

3.Positive

4.Unitary


Question:
Functional relationship between input and output known as

1.Conversion

2.Production function

3.Work in progress

4.Output function


Question:
If the commodities are substitute in nature, cross elasticity will be

1.Negative

2.Positive

3.Zero

4.Any of the above


Question:
In a perfectly competitive market, individual firm

1.cannot influence the price of its product

2.can influence the price of its product

3.can fix the price of its product

4.can influence the market force


Question:
in economics ______________ means 'a state of rest 'or 'stability'

1.Depression

2.Equilibrium

3.Maturity

4.growth


Question:
In the above function, the letter Y stands for

1.Yield of production

2.Income of consumers

3.Utility

4.Supply


Question:
In the case of unitary elastic demand, the shape of demand curve is

1.Vertical line

2.Horizontal line

3.Rectangular hyperbola

4.Steep


Question:
In the case of ______________ Consumer may moves to higher or lower demand curve

1.Extension of demand

2.Contraction of demand

3.Shift in demand

4.Slopes in demand


Question:
Information for pricing decisions involves:

1.Product information

2.Market information

3.Information at the micro level

4.All of these


Question:
Method of charging low price initially called _______

1.skimming

2.penetrating

3.full cost pricing

4.target pricing


Question:
Prices of Bata shoe as Rs.99.99, this pricing is

1.Mark up pricing

2.Odd pricing

3.Marginal cost pricing

4.Follow up pricing.


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:
Purposes of Short term Demand forecasting 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.All the above


Question:
Quantity remains the same whatever the change in price, this is the case of

1.Perfectly elastic demand

2.Perfectly inelastic demand

3.Relative elastic demand

4.Relative inelastic demand


Question:
Selling cost is the feature of the market form

1.monopoly

2.monopolistic competition

3.oligopoly

4.None of these


Question:
The causes of emergence of monopoly is/are:

1.Concentration of ownership of raw materials

2.State regulation

3.Public utility services

4.All of these


Question:
The firm charges price in tune with the industry’s price is called

1.competitive pricing

2.going rate pricing

3.tune pricing

4.target pricing


Question:
The marginal revenue equation can be derived from the:

1.Demand equation

2.Supply equation

3.Cost equation

4.Price equation


Question:
Total Revenue will be maximum at the point where Marginal Revenue is

1.One

2.Zero

3.<1

4.>1


Question:
Under oligopoly a single seller cannot influence significantly

1.market price

2.quantity supplied

3.advertisement cost

4.All the above.


Question:
Under which method, the cost is added with the predetermined target rate of return on capital invested

1.Cost plus pricing

2.Target pricing

3.Mark up pricing

4.None of these


Question:
Under ______________ Method, a panel is selected to give suggestions to solve the problems in hand

1.Opinion survey

2.Expert opinion

3.Delphi method

4.Consumer interview


Question:
Unitary elasticity of demand mean

1.EP =>1

2.EP =<1

3.EP =o

4.EP =1


Question:
When a small change in price leads to infinite change in quantity demanded, it is called

1.Perfectly elastic demand

2.Perfectly inelastic demand

3.Relative elastic demand

4.Relative inelastic demand


Question:
when income increases, quantity demanded falls, it is

1.Positive income elasticity

2.Zero income elasticity

3.Negative income elasticity

4.Unitary income elasticity


Question:
Which is the characteristics of managerial economics

1.Deals with both micro and macro aspects

2.Both positive and normative science

3.Deals with theoretical aspects

4.Deals with practical aspects.


Question:
Which is the condition of for market penetration?

1.High price elasticity of demand in the short run

2.Savings in production costs

3.Threat of potential competition

4.All of these


Question:
Which is the determinant of the pricing policy of a firm?

1.Channel of distribution

2.Age of product

3.Consumer association

4.All of these.


Question:
Which is the reason of skimming price?

1.Inelastic demand

2.Diversion of market

3.Safer price policy

4.All of these


Question:
Which of the following is / are the reason for adopting penetration price strategy

1.Economies of large scale production available to firm.

2.Potential market for the product is large.

3.Cost of production is low.

4.All the above.


Question:
Which of the following is not a function of managerial economists

1.Advice on trade and public relations

2.Economic analysis of agriculture

3.Investment analysis

4.Supervision and control


Question:
Which of the following is/ are the reason for adopting skimming price strategy

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

2.To attract the high income customers.

3.When the product has distinctive qualities, luxuries

4.All the above


Question:
Which one of the following is an internal factor influencing pricing

1.demand

2.competition

3.distribution channel

4.product life cycle


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

1.When the demand of new product is relatively inelastic.

2.When there is no close substitutes

3.Elasticity of demand is not known

4.Product has high price elasticity in the initial stage


Question:
Which one of the following is not an internal factor influencing pricing policy

1.cost

2.objectives

3.marketing mix

4.demand


Question:
_____ means an attempt to determine the factors affecting the demand of a commodity or service and to measure such factors and their influences

1.Demand planning

2.Demand forecasting

3.Demand analysis

4.Demand estimation


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:
_______ forecasting is more important from managerial view point as it helps the management in decision making with regard to the firms demand and production.

1.Macro level

2.Industry level

3.Firm level

4.None of these


Question:
_______ shows the change in quantity demanded as a result of a change in consumers' income

1.Price elasticity

2.Cross elasticity

3.Income elasticity

4.None of these


Question:
________ is situation of severely falling prices and lowest level of economic activities

1.Boom

2.Recovery

3.Recession

4.Depression


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  60. MBA Business Environment MCQ Set 5
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  69. MBA Business Law Mcq Set 4
  70. MBA Business Law Mcq Set 5
  71. MBA Business Law Mcq Set 6
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  78. MBA Business Mathematics Mcq Set 4
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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
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  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
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  112. MBA Financial Management MCQ Set 2
  113. MBA Financial Management MCQ Set 3
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  124. MBA Human Resource Management Mcq Set 2
  125. MBA Human Resource Management Mcq Set 3
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