B.COM ECO-1 MCQ's




Question 61 :
Demand forecasting is an estimate of the _____ demand.

  1. Past
  2. Present
  3. Future
  4. None of these
  

Question 62 :
Under consumer survey method the consumers are interviewed directly.

  1. TRUE
  2. FALSE
  

Question 63 :
The _____ method uses time series data.

  1. Sample survey
  2. Delphi
  3. Laboratory experimentation
  4. Trend
  

Question 64 :
Demand forecasting is very essential to fix ______ target.

  1. Production
  2. None of the above
  3. sales
  

Question 65 :
An average of past observations used to predict future referred to :

  1. Delphi method
  2. Moving average method
  3. Sales
  4. Managerial skill
  

Question 66 :
A vertical demand curve implies zero price elasticity.

  1. TRUE
  2. FALSE
  

Question 67 :
Under _____ method sales man are asked to estimates expected sales.

  1. Statistical
  2. Survey
  3. Collective Opinion
  4. None of these
  

Question 68 :
A perfectly elastic demand is represented by rectangular hyperbola curve.

  1. TRUE
  2. FALSE
  

Question 69 :
The aim of demand forecasting is to perceive ______ demand for the product.

  1. Present
  2. future
  3. Past
  4. None of these
  

Question 70 :
The _____ measures the change in the dependent variable with respect to the change in the independent variable.

  1. marginal concept
  2. Cost analysis
  3. Production analysis
  4. None of these
  

Question 71 :
The _____ method uses time series data.

  1. Trend
  2. Statistical
  3. Survey
  4. None of these
  

Question 72 :
_____ forecasting uses historical figures to predict future results.

  1. Time Series
  2. None of these
  

Question 73 :
Commodities which requires a large portion of consumer’s income tend to have ______ demand.

  1. perfectly elastic
  2. Zero
  3. inelastic
  4. elastic
  

Question 74 :
_____ refers to the next best alternative foregone or sacrificed.

  1. Incremental cost
  2. Marginal cost
  3. Opportunity cost
  4. Average cost
  

Question 75 :
If an increase in the price of product X does not change its total sales revenue, the manager should infer that the demand for X is :

  1. Undeterminable
  2. Unitary elastic
  3. Relatively inelastic
  4. Perfectly inelastic
  

Question 76 :
A vertical straight line demand curve implies ______ degree of price elasticity.

  1. Positive
  2. Negative
  3. None ot these
  4. zero
  

Question 77 :
Usually demand for air travel in business class is assumed to be :

  1. Highly price elastic
  2. Price inelastic
  3. Unitary elastic
  4. Undeterminable
  

Question 78 :
On the lower segments of a downward sloping straight line demand curve price elasticity of demand is

  1. > 1
  2. < 1
  3. 1
  4. none of the above
  

Question 79 :
Which is the cause of the rightward shift of the demand curve for cars?

  1. An increase in income
  2. An increase in population size
  3. Lower prices of petrol
  4. All of the above
  

Question 80 :
A flatter demand curve represent relatively ______ demand.

  1. elastic
  2. Relatively elastic
  3. None ot the above
  4. inelastic
  

Question 81 :
In the case of a linear demand curve :

  1. Elasticity is same throughout
  2. Elasticity varies at different points
  3. Demand is highly elastic at vertical intercept
  4. Demand is constant
  

Question 82 :
The basic formula for the advertising elasticity of demand coefficient is :

  1. Ratio of rise in demand to rise in advertising expenses
  2. Percentage change in quantity demanded/percentage change in advertising expenditure
  3. Absolute change in demand/absolute change in advertising expenditure
  4. (%  D) (%  A)
  

Question 83 :
The demand for a product is referred to as price-inelastic, if :

  1. The elasticity coefficient is less than unity
  2. The buyers do not respond much to the price variation in the market
  3. The fall in price is accompanied by the decrease of demand
  4. Both (a) and (b)
  

Question 84 :
Different ______ are indicated by differently sloping income demand curve.

  1. price elasiticity
  2. Income elasticities
  3. Elasticity of substitution
  4. None of these
  

Question 85 :
Advertisement elasticity of demand is always ______.

  1. Negative
  2. positive
  3. zero
  4. None of the above
  

Question 86 :
If a small reduction in price leads to a fall in total outlay, elasticity of demand is :

  1. less than one
  2. greater than one
  3. equal to one
  4. none of the above
  

Question 87 :
Jointly demanded goods tend to have ______ demand.

  1. inelastic
  2. perfectly elastic
  3. Relatively inelastic
  4. inelastic
  

Question 88 :
If cross elasticity of demand is positive, goods are ______.

  1. Complementary
  2. Substitutes
  3. not related
  4. None of these
  

Question 89 :
If two goods are unrelated to each other, then it is ______ cross elasticity of demand.

  1. None of the above
  2. positive
  3. Negative
  4. zero
  

Question 90 :
Business economies is now termed as _____.

  1. Managerial economics
  2. Business economics
  3. None of these
  4. business planning
  
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