Top 250+ Solved Managerial Economics 1 MCQ Questions Answer
Q. If the commodities are complimentary, cross elasticity will be
a. Negative
b. Positive
c. Zero
d. Any of the above
Q. 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
Q. Which one is the method for measurement of elasticity
a. Proportional or Percentage Method
b. Outlay Method
c. Geometric method
d. All the above
Q. Outlay method of measurement of elasticity is also called as
a. Percentage method
b. Expenditure method
c. Point method
d. Geometric method
Q. …….method measures elasticity between two points
a. Proportional or Percentage Method
b. Outlay Method
c. Geometric method
d. Arc Method
Q. Demand for necessary goods (salt, rice, etc,) is……….and demand for comfort and luxury good is
a. Elastic, inelastic
b. Inelastic, elastic
c. Elastic, elastic
d. Inelastic, inelastic
Q. ……………..is the process of finding current values of demand for various values of prices and otherdetermining variables.
a. Demand Estimation
b. Demand analysis
c. Demand function
d. Demand forecasting
Q. Tools and techniques for demand estimation includes;
a. Consumer surveys.
b. consumer clinics and focus groups
c. Market Experiment
d. All o the above
Q. ………… is an “objective assessment of the future course of demand”
a. Demand Estimation
b. Demand analysis
c. Demand function
d. Demand forecasting
Q. ………….demand forecasting is related to the business conditions prevailing in the economy as a whole
a. Macro level
b. Industry level
c. Firm level
d. None of these
Q. ……………… demand forecasting is prepared by different trade association in order to estimate thedemand for particular industries products
a. Macro level
b. Industry level
c. Firm level
d. None of these
Q. ……………forecasting is more important from managerial view point as it helps the management indecision making with regard to the firms demand and production.
a. Macro level
b. Industry level
c. Firm level
d. None of these
Q. Purposes of Short term Demand forecasting includes;
a. Making a suitable production policy.
b. To reduce the cost of purchasing raw materials and to control inventory.
c. Deciding suitable price policy
d. All the above
Q. Purposes of Short term Demand forecasting doesn’t includes;
a. Deciding suitable price policy
b. Setting correct sales target on the basis of future demand
c. Forecasting short term financial requirements
d. None of these
Q. Purposes of Short term Demand forecasting doesn’t includes;
a. Making a suitable production policy.
b. To reduce the cost of purchasing raw materials and to control inventory.
c. Deciding suitable price policy
d. Planning of a new unit or expansion of existing unit