MBA — Quiz

MBA Business Economics MCQ Set 1

50 questions · Test your knowledge

1 Managerial Economics is
2 The techniques of optimization include
3 In economics, desire backed by purchasing power is known as
4 Basic assumptions of law of demand include
5 Higher the price of certain luxurious articles, higher will be the demand, this concept is called
6 In the case of perfect elasticity, the demand curve is
7 Outlay method of measurement of elasticity is also called as
8 _______ demand forecasting is related to the business conditions prevailing in the economy as a whole
9 ________ is the base of marketing planning
10 ____ is the change in total revenue irrespective of changes in price or due to the effect of managerial decision on revenue
11 Perfect competition is characterized by
12 The distinction between variable cost and fixed cost is relevant only in
13 Purposes of Short term Demand forecasting doesn’t includes;
14 In ______________ approach, the demand for new product is estimated on the basis demand of existing product
15 The proportionate change in the quantity demanded of a commodity in response to change in the price of another related commodity is called
16 Which one is the method for measurement of elasticity
17 _______ Method is also known as Sales-Force – Composite method or collective opinion method
18 Which of the following is not a method of demand forecasting of new products
19 Psychological pricing is also called as;
20 Customary pricing is also known as
21 _____ is the process of finding current values of demand for various values of prices and other determining variables.
22 In the case of ______________ a small change in price leads to very big change in quantity demanded
23 In ______________ approach, on the basis of the growth of an established product, the demand for the new product is estimated
24 Which one of the following is not a reason for adopting penetration price strategy
25 Car and petrol are
26 Criteria for good demand forecasting includes;
27 Cost plus pricing is also called
28 Generally used strategy for pricing new products is/are
29 The architect of the theory of monopolistic competition
30 The function of combining the other factors of production is done by
31 _____ means the total receipts from sales divided by the number of unit sold.
32 Ep=0in the case of ______________ elasticity
33 Law of demand shows the functional relationship between ______________ and quantity demanded
34 When the change in demand is exactly equal to the change in price, it is called
35 Tea and coffee are
36 Survey method of demand forecasting includes
37 In ______________ pricing fixed cost are excluded.
38 The market with a single producer''
39 The short run production function is called;
40 Which are the characteristics of monopoly?
41 Whenever ______________ is greater than average total cost, average total cost is rising.
42 Which of the following is not a macroeconomic concept?
43 Iso-cost line indicate the price of
44 Who classified economies of scale into internal and external?
45 Product differentiation is the important feature of
46 13th Finance Commission has been constituted under the chairmanship of:
47 Method of demand forecasting is also called "economic model building"
48 The responsiveness of demand due to a change in promotional expenses is called
49 Want satisfying power of commodity is called
50 The relationship between price and quantity demanded is
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