MBA Business Economics MCQ Set 3 MBA MCQs: multiple choice questions and answers,Mock Tests and Practice Papers

MBA/MBA Business Economics MCQ Set 3 Sample Test,Sample questions

Question:

______ method measures elasticity between two points

1.Proportional or Percentage Method

2.Outlay Method

3.Geometric method

4.Arc Method

Posted Date:-2021-11-04 01:43:10

Question:

_______ in economics means demand backed up by enough money to pay for the goods demanded"

1.Utility

2.Consumption

3.Supply

4.Demand

Posted Date:-2021-11-04 02:02:08

Question:

_______ is the method of leadership pricing

1.Going rate pricing

2.Follow up pricing

3.Barometric pricing

4.Parity pricing

Posted Date:-2021-11-04 01:46:56

Question:

_________ is an "objective assessment of the future course of demand"

1.Demand Estimation

2.Demand analysis

3.Demand function

4.Demand forecasting

Posted Date:-2021-11-04 02:00:09

Question:

_________ provide guidelines to carry out ______

1.Pricing strategies, pricing policies

2.Pricing policies, pricing strategies

3.Pricing rules, pricing policies

4.Pricing rules, pricing strategies

Posted Date:-2021-11-04 01:42:14

Question:

__________ means relationship between demand and its various determinants expressed mathematically

1.Demand extension

2.Demand contraction

3.Demand analysis

4.Demand function

Posted Date:-2021-11-04 02:01:42

Question:

__________= R2-R1/Q2-Q1

1.Average revenue

2.Total revenue

3.Marginal revenue

4.Incremental revenue

Posted Date:-2021-11-04 01:40:28

Question:

A cost that has already been committed and cannot be recovered known as:

1.Sunk cost

2.Total cost

3.Full cost

4.Variable cost

Posted Date:-2021-11-04 01:52:09

Question:

A positive income elasticity may be

1.Unit income elasticity

2.Income elasticity greater than unity

3.Income elasticity less than unity

4.Any of the above

Posted Date:-2021-11-04 01:55:58

Question:

Basic assumptions of law of demand does not include

1.There is no change in consumers' taste and preference

2.Income should remain constant.

3.Prices of other goods should change.

4.There should be no substitute for the commodity

Posted Date:-2021-11-04 02:03:08

Question:

Cinema Theater, telephone bills etc.. are following

1.Full cost pricing

2.Marginal cost pricing

3.Differential pricing

4.Mark up pricing

Posted Date:-2021-11-04 01:49:56

Question:

Determinants of demand includes

1.Price of a commodity

2.Nature of commodity

3.Income and wealth of consumer

4.All the above.

Posted Date:-2021-11-04 01:58:02

Question:

Exceptional Demand Curve (Perverse demand curve)

1.Moving upward from left to right

2.Moving upward from right to left

3.Moving horizontally

4.Moving vertically

Posted Date:-2021-11-04 01:58:41

Question:

Growth curve approach is used for forecasting demand of ______________ products

1.New

2.Old

3.Existing

4.Both old and existing.

Posted Date:-2021-11-04 01:55:33

Question:

If the commodities are complimentary, cross elasticity will be

1.Negative

2.Positive

3.Zero

4.Any of the above

Posted Date:-2021-11-04 01:40:53

Question:

In a perfect market both buyers and sellers are

1.price maker

2.price giver

3.price taker

4.All the above.

Posted Date:-2021-11-04 01:39:08

Question:

In business cycle concept, the period (approximately) of "Kit chin cycle" is of:

1.5 years

2.10 months

3.2 years

4.4 months

Posted Date:-2021-11-04 01:53:06

Question:

In business cycle concept, the period of "long wave" is of;

1.25 years

2.50 years

3.100 years

4.200 years

Posted Date:-2021-11-04 01:49:23

Question:

In case of ______________ quantity demanded changes less than proportionate to changes in price

1.Perfectly elastic demand

2.Perfectly inelastic demand

3.Relative elastic demand

4.Relative inelastic demand

Posted Date:-2021-11-04 01:42:45

Question:

In the above function, the letter T stands for

1.Target price

2.Total supply

3.Total consumption

4.Taste and preference of consumers

Posted Date:-2021-11-04 02:01:15

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

Posted Date:-2021-11-04 02:02:35

Question:

in the case of perfect inelasticity, the demand curve is

1.Vertical

2.Horizontal

3.Flat

4.Steep

Posted Date:-2021-11-04 02:03:33

Question:

In the oligopoly market there are

1.large no. of firms

2.a few firms

3.a single firm

4.an infinite no. of firms

Posted Date:-2021-11-04 01:41:22

Question:

Marginal revenue is ______________ at the quantity that generate maximum total revenue and negative beyond that point.

1.Zero

2.One

3.+1

4.−1

Posted Date:-2021-11-04 01:48:58

Question:

Price discrimination is also called as

1.Discriminatory pricing

2.Differential pricing

3.Average cost pricing

4.a & b above

Posted Date:-2021-11-04 01:40:00

Question:

Pricing is done on the basis of managerial decisions, not on the basis of cost, demand etc...

1.Managerial pricing

2.Administered pricing

3.Full cost pricing

4.Competitive pricing

Posted Date:-2021-11-04 02:04:23

Question:

Purposes of long term Demand forecasting doesn’t includes;

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

2.Planning long term financial requirements.

3.Planning of manpower requirements.

4.Deciding suitable price policy

Posted Date:-2021-11-04 01:59:11

Question:

Purposes of long 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.Planning of a new unit or expansion of existing unit

Posted Date:-2021-11-04 02:03:58

Question:

So long as Average Revenue is falling, Marginal Revenue will be ______________ Average Revenue

1.Less than

2.More than

3.Equal to

4.None of these

Posted Date:-2021-11-04 01:39:33

Question:

Target pricing is also called as

1.Cost plus pricing

2.Rate of return pricing

3.Mark up pricing

4.None of these

Posted Date:-2021-11-04 01:43:50

Question:

The change in demand due to change in price only, where other factors remaining constant, it is called ________

1.Shift in demand

2.Extension of demand

3.Contraction of demand

4.Both extension and contraction

Posted Date:-2021-11-04 02:00:35

Question:

The claim that, other things equal, the quantity supplied of a goods rises when the price of goods raises known as:

1.Law of economics

2.Law of supply

3.Law of demand

4.All of these

Posted Date:-2021-11-04 01:52:36

Question:

The competitive firm’s long run supply curve is the portion of it’s ______________ curve lies above average total cost.

1.Marginal cost

2.Revenue cost

3.Fixed cost

4.All of these

Posted Date:-2021-11-04 01:48:01

Question:

The concept of Elasticity of Demand was introduced by

1.Alfred Marshall

2.Lionel Robbins

3.Adam smith

4.J M Keynes

Posted Date:-2021-11-04 01:56:28

Question:

The concept of monopsony was invented by:

1.Marshall

2.AP. Learner

3.Chamberlin

4.Mrs. J. Robinson

Posted Date:-2021-11-04 01:51:23

Question:

The condition for the long run equilibrium of a perfectly competitive firm

1.Price=MC=AC

2.Price=TC

3.MC=AVC

4.MC=MR

Posted Date:-2021-11-04 01:44:14

Question:

The demand curve of a firm in the case of perfect competition is:

1.Parallel to output axis

2.Increasing with the output axis

3.Decreasing with the output axis

4.Complete

Posted Date:-2021-11-04 01:53:49

Question:

The factors used in the production

1.Land and labor

2.capital & entrepreneurship

3.both a&b

4.only capital

Posted Date:-2021-11-04 01:50:25

Question:

The law of diminishing returns applies more to

1.agriculture

2.industry

3.services

4.commerce

Posted Date:-2021-11-04 01:41:47

Question:

The monopoly can be controlled by:

1.Social boycott

2.Antimonopoly legislation

3.Public ownership

4.All of these

Posted Date:-2021-11-04 01:44:41

Question:

The no. of firms under oligopoly is

1.1

2.2

3.many

4.Few

Posted Date:-2021-11-04 01:55:08

Question:

The opportunity cost of a given activity is

1.the value of next best activity

2.the value of material used

3.the cost of input used

4.None of these

Posted Date:-2021-11-04 01:48:34

Question:

The pricing of cup of tea or coffee, is an example of

1.Mark up pricing

2.Marginal cost pricing

3.Conventional pricing

4.Cost plus pricing

Posted Date:-2021-11-04 02:04:47

Question:

The properties of indifference curves are:

1.Indifference curve slops downwards from left to right

2.Convex to the point of origin

3.Two indifference curve never cut each other

4.All of these

Posted Date:-2021-11-04 01:47:31

Question:

When the quantity demanded falls due to a rise in price, it is called

1.Extension

2.Upward shift

3.Downward shift

4.Contraction

Posted Date:-2021-11-04 01:57:31

Question:

Where Marginal revenue is negative, TR will be _____

1.Rising

2.Falling

3.Zero

4.One

Posted Date:-2021-11-04 01:46:30

Question:

Which factors is/are influencing price policy?

1.Cost of product

2.Time factor

3.Government policy

4.All of these

Posted Date:-2021-11-04 01:54:15

Question:

Which is the feature of perfect competition?

1.Large number of buyers and sellers

2.Freedom of entry and exit

3.Normal profit in the long run

4.All of these

Posted Date:-2021-11-04 01:50:56

Question:

Which is/are the salient features of monopolistic competition?

1.Large number of sellers

2.Normal profit

3.Free entry and exit of firms in industry

4.All of these

Posted Date:-2021-11-04 01:51:44

Question:

Which of the following method of pricing is popular in wholesale and retail trades

1.skimming

2.penetrating

3.full cost pricing

4.target pricing

Posted Date:-2021-11-04 01:59:39

Posted on by R4R Team

MBA/MBA Business Economics MCQ Set 3 Sample Test,Sample questions

Question: ______ method measures elasticity between two points

Question: _______ in economics means demand backed up by enough money to pay for the goods demanded"

Question: _______ is the method of leadership pricing

Question: _________ is an "objective assessment of the future course of demand"

Question: _________ provide guidelines to carry out ______

Question: __________ means relationship between demand and its various determinants expressed mathematically

Question: __________= R2-R1/Q2-Q1

Question: A cost that has already been committed and cannot be recovered known as:

Question: A positive income elasticity may be

Question: Basic assumptions of law of demand does not include

Question: Cinema Theater, telephone bills etc.. are following

Question: Determinants of demand includes

Question: Exceptional Demand Curve (Perverse demand curve)

Question: Growth curve approach is used for forecasting demand of ______________ products

Question: If the commodities are complimentary, cross elasticity will be

Question: In a perfect market both buyers and sellers are

Question: In business cycle concept, the period (approximately) of "Kit chin cycle" is of:

Question: In business cycle concept, the period of "long wave" is of;

Question: In case of ______________ quantity demanded changes less than proportionate to changes in price

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

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

Question: in the case of perfect inelasticity, the demand curve is

Question: In the oligopoly market there are

Question: Marginal revenue is ______________ at the quantity that generate maximum total revenue and negative beyond that point.

Question: Price discrimination is also called as

Question: Pricing is done on the basis of managerial decisions, not on the basis of cost, demand etc...

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

Question: Purposes of long term Demand forecasting includes

Question: So long as Average Revenue is falling, Marginal Revenue will be ______________ Average Revenue

Question: Target pricing is also called as

Question: The change in demand due to change in price only, where other factors remaining constant, it is called ________

Question: The claim that, other things equal, the quantity supplied of a goods rises when the price of goods raises known as:

Question: The competitive firm’s long run supply curve is the portion of it’s ______________ curve lies above average total cost.

Question: The concept of Elasticity of Demand was introduced by

Question: The concept of monopsony was invented by:

Question: The condition for the long run equilibrium of a perfectly competitive firm

Question: The demand curve of a firm in the case of perfect competition is:

Question: The factors used in the production

Question: The law of diminishing returns applies more to

Question: The monopoly can be controlled by:

Question: The no. of firms under oligopoly is

Question: The opportunity cost of a given activity is

Question: The pricing of cup of tea or coffee, is an example of

Question: The properties of indifference curves are:

Question: When the quantity demanded falls due to a rise in price, it is called

Question: Where Marginal revenue is negative, TR will be _____

Question: Which factors is/are influencing price policy?

Question: Which is the feature of perfect competition?

Question: Which is/are the salient features of monopolistic competition?

Question: Which of the following method of pricing is popular in wholesale and retail trades

More MCQS

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Question:
______ method measures elasticity between two points

Question:
_______ in economics means demand backed up by enough money to pay for the goods demanded"

Question:
_______ is the method of leadership pricing

Question:
_________ is an "objective assessment of the future course of demand"

Question:
___ provide guidelines to carry out

Question:
__________ means relationship between demand and its various determinants expressed mathematically

Question:
__________= R2-R1/Q2-Q1

Question:
A cost that has already been committed and cannot be recovered known as:

Question:
A positive income elasticity may be

Question:
Basic assumptions of law of demand does not include

Question:
Cinema Theater, telephone bills etc.. are following

Question:
Determinants of demand includes

Question:
Exceptional Demand Curve (Perverse demand curve)

Question:
Growth curve approach is used for forecasting demand of ______________ products

Question:
If the commodities are complimentary, cross elasticity will be

Question:
In a perfect market both buyers and sellers are

Question:
In business cycle concept, the period (approximately) of "Kit chin cycle" is of:

Question:
In business cycle concept, the period of "long wave" is of;

Question:
In case of ______________ quantity demanded changes less than proportionate to changes in price

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

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

Question:
in the case of perfect inelasticity, the demand curve is

Question:
In the oligopoly market there are

Question:
Marginal revenue is ______________ at the quantity that generate maximum total revenue and negative beyond that point.

Question:
Price discrimination is also called as

Question:
Pricing is done on the basis of managerial decisions, not on the basis of cost, demand etc...

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

Question:
Purposes of long term Demand forecasting includes

Question:
So long as Average Revenue is falling, Marginal Revenue will be ______________ Average Revenue

Question:
Target pricing is also called as

Question:
The change in demand due to change in price only, where other factors remaining constant, it is called ________

Question:
The claim that, other things equal, the quantity supplied of a goods rises when the price of goods raises known as:

Question:
The competitive firm’s long run supply curve is the portion of it’s ______________ curve lies above average total cost.

Question:
The concept of Elasticity of Demand was introduced by

Question:
The concept of monopsony was invented by:

Question:
The condition for the long run equilibrium of a perfectly competitive firm

Question:
The demand curve of a firm in the case of perfect competition is:

Question:
The factors used in the production

Question:
The law of diminishing returns applies more to

Question:
The monopoly can be controlled by:

Question:
The no. of firms under oligopoly is

Question:
The opportunity cost of a given activity is

Question:
The pricing of cup of tea or coffee, is an example of

Question:
The properties of indifference curves are:

Question:
When the quantity demanded falls due to a rise in price, it is called

Question:
Where Marginal revenue is negative, TR will be _____

Question:
Which factors is/are influencing price policy?

Question:
Which is the feature of perfect competition?

Question:
Which is/are the salient features of monopolistic competition?

Question:
Which of the following method of pricing is popular in wholesale and retail trades