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This set of Managerial Economics 1 Multiple Choice Questions & Answers (MCQs) focuses on Managerial Economics 1 Set 9
Q1 | Under ….. Method, a panel is selected to give suggestions to solve the problems in hand
- Opinion survey
- Expert opinion
- Delphi method
- Consumer interview
Q2 | Consumer Interview method of demand forecasting may undertaken by;
- Complete enumeration
- Sample survey
- End‐use method
- All the above
Q3 | In …….. approach, the demand for new product is estimated on the basis demand of existing product
- Growth curve approach
- Evolutionary approach.
- Opinion polling approach
- Vicarious approach.
Q4 | In …….approach, Consumers reactions on the new products are found out indirectly with the helpof specialized dealers
- Growth curve approach
- Evolutionary approach.
- Opinion polling approach
- Vicarious approach.
Q5 | In ………approach, on the basis of the growth of an established product, the demand for the newproduct is estimated
- Growth curve approach
- Evolutionary approach.
- Opinion polling approach
- vicarious approach
Q6 | Method of demand forecasting is also called “economic model building”
- Opinion survey
- Complete enumeration
- Correlation and regression
- Delphi method
Q7 | Criteria for good demand forecasting includes;
- Plausibility
- Simplicity
- Economy
- All the above.
Q8 | ………..is the base of marketing planning
- Demand Estimation
- Demand analysis
- Demand function
- Demand forecasting
Q9 | Growth curve approach is used for forecasting demand of ………….products
- New
- Old
- Existing
- Both old and existing.
Q10 | Which of the following is not a method of demand forecasting of new products
- Trend projection
- Substitute approach
- Evolutionary approach
- Sales experience approach
Q11 | ………..= R2‐R1/Q2‐Q1
- Average revenue
- Total revenue
- Marginal revenue
- Incremental revenue
Q12 | ……….. Measures the differences between the new total revenue and existing total revenue
- Average revenue
- Total revenue
- Marginal revenue
- Incremental revenue
Q13 | ………. means the total receipts from sales divided by the number of unit sold.
- Average revenue
- Total revenue
- Marginal revenue
- Incremental revenue
Q14 | So long as Average Revenue is falling, Marginal Revenue will be …………. Average Revenue
- Less than
- More than
- Equal to
- None of these
Q15 | Where Marginal revenue is negative, TR will be …………..
- Rising
- Falling
- Zero
- One
Q16 | Total Revenue will be maximum at the point where Marginal Revenue is
- One
- Zero
- <1
- >1
Q17 | ………….. is the change in total revenue irrespective of changes in price or due to the effect ofmanagerial decision on revenue
- Average revenue
- Total revenue
- Marginal revenue
- Incremental revenue
Q18 | In…………..pricing fixed cost are excluded.
- skimming pricing
- going rate pricing
- administered pricing
- marginal cost pricing
Q19 | Fixing high price during the introduction is called
- skimming
- penetrating
- full cost pricing
- target pricing
Q20 | The firm charges price in tune with the industry’s price is called
- competitive pricing
- going rate pricing
- tune pricing
- target pricing
Q21 | Method of charging low price initially called……………
- skimming
- penetrating
- full cost pricing
- target pricing
Q22 | Pricing is done on the basis of managerial decisions, not on the basis of cost, demand etc…
- Managerial pricing
- Administered pricing
- Full cost pricing
- Competitive pricing
Q23 | Which of the following method of pricing is popular in wholesale and retail trades
- skimming
- penetrating
- full cost pricing
- target pricing
Q24 | Which one of the following is not an internal factor influencing pricing policy
- cost
- objectives
- marketing mix
- demand
Q25 | Which one of the following is an internal factor influencing pricing
- demand
- competition
- distribution channel
- product life cycle