B.COM ECO-1 MCQ's




Question 31 :
If elasticity of demand = 1, the marginal revenue is ______.

  1. zero
  2. Infinity
  3. Positive
  4. Negative
  

Question 32 :
A proportional increase in output in relation to the charge in input implies _____ returns to scale.

  1. minimum
  2. constant
  3. maximum
  4. None of these
  

Question 33 :
Production function refers to _____ of input into output.

  1. transformation
  

Question 34 :
Demand forecasting is important for the firms.

  1. TRUE
  2. FALSE
  

Question 35 :
Capital mangement implies planning of capital expenditure.

  1. TRUE
  2. FALSE
  

Question 36 :
Market management is crucial for any business economics.

  1. TRUE
  2. FALSE
  

Question 37 :
Cost analysis is narrower in scope than production analysis.

  1. TRUE
  2. FALSE
  

Question 38 :
_____ explains the relationship between demand for a commodity and it determinants.

  1. Demand
  2. Supply function
  3. Demand function
  4. Supply
  

Question 39 :
If cross elasticity between two goods is positive, goods are necessarily complements.

  1. TRUE
  2. FALSE
  

Question 40 :
Regression method collect historical data on all the selected variables.

  1. TRUE
  2. FALSE
  

Question 41 :
Time Series model does not address any other variables.

  1. TRUE
  2. FALSE
  

Question 42 :
An endless demand at the given price is the case of ______ demand.

  1. Relatively elastic
  2. Unitary elastic
  3. perfectly elastic
  4. None of these
  

Question 43 :
Experimentation in laboratory involves a formation of small laboratory and creating an artificial market situation.

  1. TRUE
  2. FALSE
  

Question 44 :
A straight line demand curve implies _____ demand function.

  1. Linear
  2. Non– Linear
  3. Steep
  4. Vertical
  

Question 45 :
Trend refers to :

  1. Short-term variations
  2. Long-term movement of data
  3. Perfection
  4. Regression
  

Question 46 :
If income rise by 10%, demand too rise by 10%, then income elasticity of demand is ______.

  1. Unitary elastic
  2. Relatively elastic
  3. unitary
  4. perfectly elastic
  

Question 47 :
Expert opinion is a _____.

  1. Survey method
  2. Statistical method
  3. both a and b
  4. none of the above
  

Question 48 :
The cross elasticity of demand may be positive, negative or zero.

  1. TRUE
  2. FALSE
  

Question 49 :
Moving averages can be used to measure a _______ .

  1. Trade cycle
  2. Raulan
  3. Trend
  4. All of the above
  

Question 50 :
A percentage change in quantity demanded divided by a percentage change in price is called

  1. income elasticity of demand
  2. price elasticity of demand
  3. price elasticity of supply
  4. elasticity of substitution
  

Question 51 :
Statistical method is more frequently used to estimate demand.

  1. TRUE
  2. FALSE
  

Question 52 :
The concept of elasticity of demand has no useful application.

  1. TRUE
  2. FALSE
  

Question 53 :
Which of the following component of time covers analysis referred to long time period?

  1. Trade cycle
  2. Trend
  3. Raulan variation
  4. All of the above
  

Question 54 :
Cost analysis is more significant than production analysis.

  1. TRUE
  2. FALSE
  

Question 55 :
In test marketing method, a market experiment is performed under artificial market situation.

  1. TRUE
  2. FALSE
  

Question 56 :
Market demand for necessaries are usually :

  1. Highly price-elastic
  2. Price-inelastic
  3. Perfectly elastic
  4. Perfectly inelastic
  

Question 57 :
Demand forecasting is always :

  1. Conditional
  2. Unreliable
  3. Accurate
  4. Trustworthy
  

Question 58 :
Promotion elasticity is always positive.

  1. TRUE
  2. FALSE
  

Question 59 :
The methods of demand forecasting is are

  1. Survey method
  2. Statistical method
  3. Only (a)
  4. Both (a) and (b)
  

Question 60 :
Seasonal trend refers to :

  1. Cyclical fluctuation
  2. Variations within a year time
  3. Very long period
  4. None of the above
  
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