MBA Business Economics MCQ Set 1 | MBA | Learn & Give Online MCQS Test ,MCQs: multiple choice questions and answers,Mock Tests and Practice Papers

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 doesnâ€™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.Nonâ€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 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 â€“ 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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MBA/MBA Business Economics MCQ Set 1 Sample Test,Sample questions

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

Question: Basic assumptions of law of demand include

Question: Car and petrol are

Question: Cost plus pricing is also called

Question: Criteria for good demand forecasting includes;

Question: Customary pricing is also known as

Question: Ep=0in the case of ______________ elasticity

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

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

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

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

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

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

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

Question: In ______________ pricing fixed cost are excluded.

Question: Iso-cost line indicate the price of

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

Question: Managerial Economics is

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

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

Question: Perfect competition is characterized by

Question: Product differentiation is the important feature of

Question: Psychological pricing is also called as;

Question: Purposes of Short term Demand forecasting doesnâ€™t includes;

Question: Survey method of demand forecasting includes

Question: Tea and coffee are

Question: The architect of the theory of monopolistic competition

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

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

Question: The market with a single producer''

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

Question: The relationship between price and quantity demanded is

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

Question: The short run production function is called;

Question: The techniques of optimization include

Question: Want satisfying power of commodity is called

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

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

Question: Which are the characteristics of monopoly?

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

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

Question: Which one is the method for measurement of elasticity

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

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

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

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

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

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

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

Question: ________ is the base of marketing planning

More MCQS

Search

Olete Team

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

Question:
Basic assumptions of law of demand include

Question:
Car and petrol are

Question:
Cost plus pricing is also called

Question:
Criteria for good demand forecasting includes;

Question:
Customary pricing is also known as

Question:
Ep=0in the case of ______________ elasticity

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

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

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

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

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

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

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

Question:
In ______________ pricing fixed cost are excluded.

Question:
Iso-cost line indicate the price of

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

Question:
Managerial Economics is

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

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

Question:
Perfect competition is characterized by

Question:
Product differentiation is the important feature of

Question:
Psychological pricing is also called as;

Question:
Purposes of Short term Demand forecasting doesnâ€™t includes;

Question:
Survey method of demand forecasting includes

Question:
Tea and coffee are

Question:
The architect of the theory of monopolistic competition

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

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

Question:
The market with a single producer''

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

Question:
The relationship between price and quantity demanded is

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

Question:
The short run production function is called;

Question:
The techniques of optimization include

Question:
Want satisfying power of commodity is called

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

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

Question:
Which are the characteristics of monopoly?

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

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

Question:
Which one is the method for measurement of elasticity

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

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

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

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

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

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

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

Question:
________ is the base of marketing planning