Top 1000+ Solved Fundamentals of Economics and Management MCQ Questions Answer
Q. Which of the following is no step in the forecasting process?
a. determine the use of the forecast
b. eliminate any assumptions
c. determine the time horizon
d. validate and implement the results
Q. The two general approaches to forecasting are……..
a. qualitative and quantitative
b. mathematical and statistical
c. judgmental and qualitative
d. judgmental and associative
Q. Which of the following uses three types of participants: decision makers, staff personnel, andrespondents?
a. executive opinions
b. sales force composites
c. the Delphi method
d. time series analysis
Q. Which of the following is not type of qualitative forecasting?
a. executive opinions
b. sales force composites
c. the Delphi method
d. moving average
Q. The forecasting model that pools the opinions of a group of experts or managers is known as the………
a. sales force composition model
b. jury of executive opinion model
c. consumer market survey model
d. management coefficients model
Q. Which of the following techniques uses variables such as price and promotional expenditures, whichare related to product demand, to predict demand?
a. associative models
b. exponential smoothing
c. weighted moving average
d. time series
Q. The fundamental difference between cycles and seasonality is the
a. duration of the repeating patterns
b. magnitude of the variation
c. ability to attribute the pattern to a cause
d. all of the above
Q. Increasing the number of periods in a moving average will accomplish greater smoothing, but at theexpense of……….
a. manager understanding
b. accuracy
c. stability
d. responsiveness to changes
Q. Organizational structure is made up of key elements. Which of the following is not one of theseelements?
a. Span of control
b. Centralization
c. Decentralization
d. Co-ordination
Q. One of the most popular ways to group activities is by………..
a. Product
b. Function
c. Process
d. Geography
Q. Sun Petroleum Products departmentalizes by fuels, lubricants, and waxes and chemicals. This is anexample of departmentalization by………..
a. Product
b. Functions
c. Job design
d. Customer
Q. Which type of departmentalization achieves economies of scale by placing people with common skillsand orientations into common units?
a. Geographic
b. Product
c. Process
d. Functional
Q. When jobs are grouped together based on a particular type of customer, this is known as…..
a. Job structuring
b. Formalization
c. Centralization
d. Departmentalization
Q. Which of the following trends is gaining momentum?
a. Using less departmentalization
b. Geographical departmentalization
c. Using only one type of departmentalization
d. Using more customer departmentalization
Q. The unbroken line of authority that extends from the top of the organization to the lowest echelon andclarifies who reports to whom is termed………
a. Unity of command
b. Authority
c. Power and authority structure
d. Chain of command