Business Economics 4

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Objective Questions and Answers of MBA: Business Economics 4

Subject: Objective Questions and Answers of MBA: Business Economics 4

Part 4: Objective questions and answers of Business Economics

 

Q1. Which of the following is not a macroeconomic concept?

a) Business cycle

b) National income

c) Government policy

d) None of these

 

Q2. Who classified economies of scale into internal and external?

a) Robinson

b) Marshall

c) Edward west

d) Pigue

 

Q3. 13th finance commission has been constituted under the chairmanship of:

a) C.rangarajan

b) Vijay l kelkar

c) Deepak parekh

d) Indira bhargara

 

Q4. The responsiveness of demand due to a change in promotional expenses is called

a) Expenditure elasticity

b) Advertisement elasticity

c) Promotional elasticity

d) Above b or c

 

Q5. The relationship between price and quantity demanded is

a) Direct

b) Inverse

c) Linear

d) Non-linear

 

Q6. ______________ shows the change in quantity demanded as a result of a change in consumers' income

a) Price elasticity

b) Cross elasticity

c) Income elasticity

d) None of these

 

Q7. Which one of the following is not a reason for adopting skimming price strategy

a) When the demand of new product is relatively inelastic.

b) When there is no close substitutes

c) Elasticity of demand is not known

d) Product has high price elasticity in the initial stage

e) all of these

 

Q8. The marginal revenue equation can be derived from the:

a) Demand equation

b) Supply equation

c) Cost equation

d) Price equation

 

Q9. In economics ______________ means 'a state of rest 'or 'stability'

a) Depression

b) Equilibrium

c) Maturity

d) Growth

 

Q10. Selling cost is the feature of the market form

a) Monopoly

b) Monopolistic competition

c) Oligopoly

d) None of these

 

Q11. Which is the condition of for market penetration?

a) High price elasticity of demand in the short run

b) Savings in production costs

c) Threat of potential competition

d) All of these

 

Q12. Which one of the following is not an internal factor influencing pricing policy

a) Cost

b) Objectives

c) Marketing mix

d) Demand

 

Q13. In the above function, the letter y stands for

a) Yield of production

b) Income of consumers

c) Utility

d) Supply

 

Q14. Price elasticity of demand=

a) Proportionate change in quantity demanded proportionate change in price

b) Change in quantity demanded / quantity demanded change in price/price

c) (q2-q1.)/q1. (p2-p1) /p1

d) All the above

 

Q15. Fixing high price during the introduction is called

a) Skimming

b) Penetrating

c) Full cost pricing

d) Target pricing

 

Q16. Which is the determinant of the pricing policy of a firm?

a) Channel of distribution

b) Age of product

c) Consumer association

d) All of these

 

Q17. ______________ is situation of severely falling prices and lowest level of economic activities

a) Boom

b) Recovery

c) Recession

d) Depression

 

Q18. Unitary elasticity of demand mean

a) Ep =>1

b) Ep =<1

c) Ep =o

d) Ep =1

 

Q19. Which of the following is not a function of managerial economists?

a) Advice on trade and public relations

b) Economic analysis of agriculture

c) Investment analysis

d) Supervision and control

 

Q20. Which are the characteristics of managerial economics?

a) Deals with both micro and macro aspects

b) Both positive and normative science

c) Deals with theoretical aspects

d) Deals with practical aspects

 

Part 4: Objective questions and answers of Business Economics

 

Q1. Answer d

 

Q2. Answer b

 

Q3. Answer b

 

Q4. Answer d

 

Q5. Answer b

 

Q6. Answer c

 

Q7. Answer d

 

Q8. Answer a

 

Q9. Answer b

 

Q10. Answer b

 

Q11. Answer d

 

Q12. Answer d

 

Q13. Answer b

 

Q14. Answer d

 

Q15. Answer a

 

Q16. Answer d

 

Q17. Answer d

 

Q18. Answer d

 

Q19. Answer d

 

Q20. Answer d

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