Selling cost means: (1) Cost of selling a product (2) Cost incurred in transportation (3) Cost Incurred in advertisement (4) Cost Incurred on fact ors of production

Selling cost means: (1) Cost of selling a product (2) Cost incurred in transportation (3) Cost Incurred in advertisement (4) Cost Incurred on fact ors of production
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(3) Cost Incurred in advertisement Explanation: Selling cost is total cost of marketing, advertising, and selling a product. It differs from the production cost which is incurred to produce goods. Selling cost influences the commercial desire to purchase a commodity.
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Selling cost means: (1) Cost of selling a product (2) Cost incurred in transportation (3) Cost Incurred in advertisement (4) Cost Incurred on factors of production

Description : Selling cost means: (1) Cost of selling a product (2) Cost incurred in transportation (3) Cost Incurred in advertisement (4) Cost Incurred on factors of production 

Last Answer : Cost Incurred in advertisement

What is selling cost? (1) Cost incurred on transportation of commodities to market (2) Cost incurred on promoting the sale of the product (3) Cost incurred on commission and salaries personnel (4) Cost incurred on advertisement

Description : What is selling cost? (1) Cost incurred on transportation of commodities to market (2) Cost incurred on promoting the sale of the product (3) Cost incurred on commission and salaries personnel (4) Cost incurred on advertisement

Last Answer : (2) Cost incurred on promoting the sale of the product Explanation: Selling cost is total cost of marketing, advertising, and selling a product. It differs from the production cost which is incurred to produce goods.

What is selling cost ? (1) Cost incurred on transportation of commodities to market (2) Cost incurred on promoting the sale of the product (3) Cost incurred on commission and salaries personnel (4) Cost incurred on advertisement

Description : What is selling cost ? (1) Cost incurred on transportation of commodities to market (2) Cost incurred on promoting the sale of the product (3) Cost incurred on commission and salaries personnel (4) Cost incurred on advertisement

Last Answer : Cost incurred on promoting the sale of the product

Selling cost have to be incurred in case of - (1) Perfect Competition (2) Monopoly (3) Monopolistic Competition (4) None of the given options

Description : Selling cost have to be incurred in case of - (1) Perfect Competition (2) Monopoly (3) Monopolistic Competition (4) None of the given options

Last Answer : (3) Monopolistic Competition Explanation: Selling costs are the expenses on advertisement, salesmanship, free sampling, free service, door-todoor canvassing, and so on. There is no selling problem under ... . They are incurred to persuade a buyer to purchase one product in preference to another.

Selling cost have to be incurred in case of (1) Perfect Competition (2) Monopoly (3) Monopolistic Competition (4) None of the given options

Description : Selling cost have to be incurred in case of (1) Perfect Competition (2) Monopoly (3) Monopolistic Competition (4) None of the given options

Last Answer : Monopolistic Competition 

Selling costs have to be incurred in case of A.Perfect competition B.Monopolistic competition C.Imperfect competition D.None

Description : Selling costs have to be incurred in case of A.Perfect competition B.Monopolistic competition C.Imperfect competition D.None

Last Answer : B.Monopolistic competition

Opportunity cost of production of a commodity is - (1) the cost that the firm could have Incurred when a different technique was adopted (2) the cost that the firm could have incurred under a different method of production (3) the actual cost incurred (4) the next best alternative output

Description : Opportunity cost of production of a commodity is - (1) the cost that the firm could have Incurred when a different technique was adopted (2) the cost that the firm could have incurred under a different method of production (3) the actual cost incurred (4) the next best alternative output

Last Answer : (4) the next best alternative output Explanation: The concept of opportunity cost is based on scar-city and choice. The opportunity cost of a commodity is the next best alternative commodity ... to produce alternative goods and services. If one commodity is produced another commodity is sacrificed.

Opportunity cost of production of a commodity is (1) the cost that the firm could have incurred when a different technique was adopted (2) the cost that the firm could have incurred under a different method of production (3) the actual cost incurred (4) the next best alternative output

Description : Opportunity cost of production of a commodity is (1) the cost that the firm could have incurred when a different technique was adopted (2) the cost that the firm could have incurred under a different method of production (3) the actual cost incurred (4) the next best alternative output

Last Answer : the next best alternative output

Which of the following is not deferred revenue expenditure? A. Heavy advertisement expenditure. B. Expenses incurred in removing the business to more convenient premises. C. Preliminary expenses. D. Depreciation on fixed assets.

Description : Which of the following is not deferred revenue expenditure? A. Heavy advertisement expenditure. B. Expenses incurred in removing the business to more convenient premises. C. Preliminary expenses. D. Depreciation on fixed assets.

Last Answer : D. Depreciation on fixed assets.

Which one of the following is normally NOT included in production cost ? (a) Cost of raw material (b) Cost of labour (c) Cost of advertisement (d) indirect material cost

Description : Which one of the following is normally NOT included in production cost ? (a) Cost of raw material (b) Cost of labour (c) Cost of advertisement (d) indirect material cost

Last Answer : (a) Cost of raw material

Which of the following best defines price discrimination? a. charging different prices on the basis of race b. charging different prices for goods with different costs of production c. charging different prices based on cost-of-service differences d. selling a certain product of given quality and cost per unit at different prices to different buyers

Description : Which of the following best defines price discrimination? a. charging different prices on the basis of race b. charging different prices for goods with different costs of production c. charging ... a certain product of given quality and cost per unit at different prices to different buyers

Last Answer : d. selling a certain product of given quality and cost per unit at different prices to different buyers

The profit earned after selling a wrist watch for `5080 is the same as the loss incurred after selling the same wrist watch for `4650. What is the cost price of the wrist watch? a) `4685 b) `4875 c) `4695 d) `4785 e) `4865

Description : The profit earned after selling a wrist watch for `5080 is the same as the loss incurred after selling the same wrist watch for `4650. What is the cost price of the wrist watch? a) `4685 b) `4875 c) `4695 d) `4785 e) `4865

Last Answer : Cost price of the watch = 5080 + 4650 / 2 = 9730 / 2 = `4865 Answer: e)

The profit earned after selling a Laptop for Rs.1,754/- is the same as loss incurred after selling the article for Rs.1,492/-. What is the cost price of the article? a) Rs. 1,239/- b) Rs. 1,456/- c) Rs. 1,786/- d) Rs. 1,623/- e) Rs. 1,345/-

Description : The profit earned after selling a Laptop for Rs.1,754/- is the same as loss incurred after selling the article for Rs.1,492/-. What is the cost price of the article? a) Rs. 1,239/- b) Rs. 1,456/- c) Rs. 1,786/- d) Rs. 1,623/- e) Rs. 1,345/-

Last Answer : Let the C.P. of a Laptop = Rs. x 1754 - x = x - 1492 2x = 3246 x = 3246 / 2 = 1623 Answer: d)

The profit after selling a pair of trousers for Rs 863 is same as loss incurred after selling the same pair of trousers for Rs 631. What is the cost price of the trousers? 1. Rs7472. Rs 800 3. Rs 763 4. Cannot be determined

Description : The profit after selling a pair of trousers for Rs 863 is same as loss incurred after selling the same pair of trousers for Rs 631. What is the cost price of the trousers? 1. Rs7472. Rs 800 3. Rs 763 4. Cannot be determined

Last Answer : 1. Rs7472

The profit earned after selling a wrist watch for Rs 4,080 is the same as the loss incurred after selling the same wrist watch for Rs 3,650. What is the cost price of the wrist watch? 1. Rs 3,785 2. Rs 3,800 3. Rs 3,775 4. Rs 3,865

Description : The profit earned after selling a wrist watch for Rs 4,080 is the same as the loss incurred after selling the same wrist watch for Rs 3,650. What is the cost price of the wrist watch? 1. Rs 3,785 2. Rs 3,800 3. Rs 3,775 4. Rs 3,865

Last Answer : 3865

)Quality costs include : 1. the total of all costs incurred to assure the production and delivery of acceptable products and services. 2. Only costs classified as prevention, detection and corrective action. 3. Only the cost of scrap, rework due to defects, customer returns and warranty costs. 4. The expense of upper management

Description : )Quality costs include : 1. the total of all costs incurred to assure the production and delivery of acceptable products and services.  2. Only costs classified as prevention, detection and ... rework due to defects, customer returns and warranty costs.  4. The expense of upper management

Last Answer : 1. the total of all costs incurred to assure the production and delivery of acceptable products and services.

Which is appropriate description of Average Costs? a) The value of opportunities which have been lost by utilizing resources in particular service or health technology. b) The total costs (i.e. all the costs incurred in the delivery of a service) of a health care system divided by the units of production. c) Independent of the number of units of production and include heating, lighting and fixed staffing costs. d) The cost of the consumption of medicines is a good example of variable costs.

Description : Which is appropriate description of Average Costs? a) The value of opportunities which have been lost by utilizing resources in particular service or health technology. b) The total costs (i.e. all the ... costs. d) The cost of the consumption of medicines is a good example of variable costs.

Last Answer : b) The total costs (i.e. all the costs incurred in the delivery of a service) of a health care system divided by the units of production. 

In the advanced marketing module the term “reach” refers to a. the potential number of customers who would see the advertisement message. b. the potential number of customers that can be reached by the sales personnel. c. the number of times a message is repeated. d. the primary segment towards which promotions will be targeted. e. the fact that all segment respond similarly to each media type.

Description : In the advanced marketing module the term reach refers to a. the potential number of customers who would see the advertisement message. b. the potential number of customers that can be reached by ... promotions will be targeted. e. the fact that all segment respond similarly to each media type.

Last Answer : a. the potential number of customers who would see the advertisement message

Abnormal cost is the cost: (a) Cost normally incurred at a given level of output (b) Cost not normally incurred at a given level of output (c) Cost which is charged to customer (d) Cost which is included in the cost of the product

Description : Abnormal cost is the cost: (a) Cost normally incurred at a given level of output (b) Cost not normally incurred at a given level of output (c) Cost which is charged to customer (d) Cost which is included in the cost of the productm

Last Answer : (b) Raw material, Finished goods

What kind of quality cost is incurred when an error is detected in a product prior to shipment? a) Prevention b) Internal Failure c) External Failure d) Appraisal

Description : What kind of quality cost is incurred when an error is detected in a product prior to shipment? a) Prevention b) Internal Failure c) External Failure d) Appraisal

Last Answer : Ans: b

Excise duty on a commodity is payable with reference to its - (1) production (2) production and sale (3) production and transportation (4) production, transportation and sale

Description : Excise duty on a commodity is payable with reference to its - (1) production (2) production and sale (3) production and transportation (4) production, transportation and sale

Last Answer : (1) production Explanation: An excise or excise tax (sometimes called a duty of excise special tax) is an inland tax on the sale, or production for sale, of specific goods or a tax ... customs duties, which are taxes on importation. Excises are inland taxes, whereas customs duties arc border taxes.

Excise duty on a commodity is payable with reference to its - (1) production (2) production and sale (3) production and transportations (4) production, transportation and sale

Description : Excise duty on a commodity is payable with reference to its - (1) production (2) production and sale (3) production and transportations (4) production, transportation and sale

Last Answer : (1) production Explanation: Excise duty is a type of tax charged on goods produced within the country. In India, an excise tax is levied on the manufacturer of goods when those goods leave the place ... called the Central Excise duty, this tax is now known as the Central Value Added Tax (CENVAT).

Excise duty on a commodity is payable with reference to its (1) production (2) production and sale (3) production and transportations (4) production, transportation and sale

Description : Excise duty on a commodity is payable with reference to its (1) production (2) production and sale (3) production and transportations (4) production, transportation and sale 

Last Answer : production

Promotional mix strategy in which advertisement and promotions are made to final customers to induce them to buy products is classified as A. pull strategy B. moral selling strategy C. rational selling strategy D. push strategy

Description : Promotional mix strategy in which advertisement and promotions are made to final customers to induce them to buy products is classified as A. pull strategy B. moral selling strategy C. rational selling strategy D. push strategy

Last Answer : A. pull strategy

Gross National Product means - (1) gross value of finished goods (2) money values of the total national production for any given period (3) gross value of raw materials and semifinished products (4) money value of inputs and outputs

Description : Gross National Product means - (1) gross value of finished goods (2) money values of the total national production for any given period (3) gross value of raw materials and semifinished products (4) money value of inputs and outputs

Last Answer : (2) money values of the total national production for any given period Explanation: Gross national product (GNP) is the market/monetary value of all products and services produced in one year by labour and property supplied by the residents of a country.

Gross National Product means (1) gross value of finished goods (2) money values of the total national production for any given period (3) gross value of raw materials and semi-finished products (4) money value of inputs and outputs

Description : Gross National Product means (1) gross value of finished goods (2) money values of the total national production for any given period (3) gross value of raw materials and semi-finished products (4) money value of inputs and outputs

Last Answer : money values of the total national production for any given period

All actual expenses in cash and kind incurred in production by owner operator

Description : All actual expenses in cash and kind incurred in production by owner operator

Last Answer : Ans. Cost-A

Economies of a firm are : (1) An increase in its profits (2) A reduction in its selling expenses (3) Its dominance of the market (4) Saving in it's production costs

Description : Economies of a firm are : (1) An increase in its profits (2) A reduction in its selling expenses (3) Its dominance of the market (4) Saving in it's production costs

Last Answer : (4) Saving in it's production costs Explanation: Economics of a firm includes how it combines labour and capital so as to lower the average cost of output, either from increasing, decreasing, or constant returns ... of a good or a service on a larger scale, yet with (on average) less input costs.

Economies of a firm are : (1) An increase in its profits (2) A reduction in its selling expenses (3) Its dominance of the market (4) Saving in it’s production costs

Description : Economies of a firm are : (1) An increase in its profits (2) A reduction in its selling expenses (3) Its dominance of the market (4) Saving in it’s production costs 

Last Answer : Saving in it’s production costs

Selling lays emphasis on the _________________ whereas marketing on _______________ 1. Product, Customer wants 2. Production, Customer Wants 3. Production, Product 4. Product, Cost 5. None of these

Description : Selling lays emphasis on the _________________ whereas marketing on _______________ 1. Product, Customer wants 2. Production, Customer Wants 3. Production, Product 4. Product, Cost 5. None of these

Last Answer : Product, Customer wants

3. S produces and sells one product, P, for which the data are as follows: Selling price Rs 28 Variable cost Rs 16 Fixed cost Rs 4 The fixed costs are based on a budgeted production and sales level of 25,000 units for the next period(a) 10.1% decrease (b) 11.2% decrease (c) 13.3% decrease (d) 16.0% decrea

Description : 3. S produces and sells one product, P, for which the data are as follows: Selling price Rs 28 Variable cost Rs 16 Fixed cost Rs 4 The fixed costs are based on a budgeted production and sales level of 25 ... period(a) 10.1% decrease (b) 11.2% decrease (c) 13.3% decrease (d) 16.0% decrease

Last Answer : (a) 10.1% decrease

Under which philosophy of marketing, efforts are made to bring down the cost of production to the minimum? a. Production Concept b. Product Concept c. Marketing concept d. Selling Concept

Description : Under which philosophy of marketing, efforts are made to bring down the cost of production to the minimum? a. Production Concept b. Product Concept c. Marketing concept d. Selling Concept

Last Answer : a. Production Concept

A demand curve will not shift: (1) When only income changes (2) When only prices of substitute products change (3) When there is a change in advertisement expenditure (4) When only price of the commodity changes

Description : A demand curve will not shift: (1) When only income changes (2) When only prices of substitute products change (3) When there is a change in advertisement expenditure (4) When only price of the commodity changes

Last Answer : (4) When only price of the commodity changes Explanation: In economics, the demand curve is the graph depicting the relationship between the price of a certain commodity and the amount of it that ... only when there is a change in other determinants of demand, other than price of the commodity.

Which of the following taxes are levied and collected by the centre but their net proceeds are wholly transferred to states? (1) Expenditure Tax and Gift Tax (2) Additional Duties of Excise in lieu of Sales Tax (3) Stamps and Registration (4) Taxes on Advertisement

Description : Which of the following taxes are levied and collected by the centre but their net proceeds are wholly transferred to states? (1) Expenditure Tax and Gift Tax (2) Additional Duties of Excise in lieu of Sales Tax (3) Stamps and Registration (4) Taxes on Advertisement

Last Answer : (4) Taxes on Advertisement Explanation: Apart from taxes levied and collected by the States, the Constitution has provided for the revenues for certain taxes on the Union List to be allotted ... exchanges and future markets; and Taxes on sale and purchase of newspapers and advertisements therein.

Demand of commodity mainly depends upon - (1) Purchasing will (2) Purchasing power (3) Tax policy (4) Advertisement

Description : Demand of commodity mainly depends upon - (1) Purchasing will (2) Purchasing power (3) Tax policy (4) Advertisement

Last Answer : (2) Purchasing power Explanation: The demand of commodity mainly stems from the consumption capacity of the buyer. Demand is equal to desire plus ability to pay plus will to spend. Demand for a commodity depends upon number of factors called Determinants.

Which of the following taxes are levied and collected by the centre but their net proceeds are wholly transferred to states ? (1) Expenditure Tax and Gift Tax (2) Additional Duties of Excise in lieu of Sales Tax (3) Stamps and Registration (4) Taxes on Advertisement

Description : Which of the following taxes are levied and collected by the centre but their net proceeds are wholly transferred to states ? (1) Expenditure Tax and Gift Tax (2) Additional Duties of Excise in lieu of Sales Tax (3) Stamps and Registration (4) Taxes on Advertisement

Last Answer : Taxes on Advertisement

A demand curve will not shift: (1) When only income changes (2) When only prices of substitute products change (3) When there is a change in advertisement expenditure (4) When only price of the commodity changes

Description : A demand curve will not shift: (1) When only income changes (2) When only prices of substitute products change (3) When there is a change in advertisement expenditure (4) When only price of the commodity changes

Last Answer : When only price of the commodity changes

Expenditure on advertisement and public relations by an enterprise is a part of its (1) consumption of fixed capital (2) final consumption expenditure (3) intermediate consumption (4) fixed capital

Description : Expenditure on advertisement and public relations by an enterprise is a part of its (1) consumption of fixed capital (2) final consumption expenditure (3) intermediate consumption (4) fixed capital

Last Answer :  intermediate consumption

Demand of commodity mainly depends upon– (1) Purchasing will (2) Purchasing power (3) Tax policy (4) Advertisement

Description : Demand of commodity mainly depends upon– (1) Purchasing will (2) Purchasing power (3) Tax policy (4) Advertisement

Last Answer : Purchasing power

Equilibrium price means - (1) Price determined by demand and supply (2) Price determined by Cost and Profit (3) Price determined by Cost of production (4) Price determined to maximize profit

Description : Equilibrium price means - (1) Price determined by demand and supply (2) Price determined by Cost and Profit (3) Price determined by Cost of production (4) Price determined to maximize profit

Last Answer : (1) Price determined by demand and supply Explanation: Equilibrium price is a state in economy where the supply of goods matches demand. When a major index experiences a period of consolidation or sideways ... short, it is the market price at which the supply of an item equals the quantity demanded.

Economies of Scale means reduction in (1) unit cost of production (2) unit cost of distribution (3) total cost of production (4) total cost of distribution

Description : Economies of Scale means reduction in (1) unit cost of production (2) unit cost of distribution (3) total cost of production (4) total cost of distribution

Last Answer : (1) unit cost of production Explanation: In microeconomics, economies of scale are the cost advantages that an enterprise obtains due to expansion. "Economies of scale" is a long run concept and refers ... in unit cost as the size of a facility and the usage levels of other inputs increase.

Economies of Scale means reduction in (1) unit cost of production (2) unit cost of distribution (3) total cost of production (4) total cost of distribution

Description : Economies of Scale means reduction in (1) unit cost of production (2) unit cost of distribution (3) total cost of production (4) total cost of distribution

Last Answer : unit cost of production 

Equilibrium price means (1) Price determined by demand and supply (2) Price determined by Cost and Profit (3) Price determined by Cost of production (4) Price determined to maximise profit

Description : Equilibrium price means (1) Price determined by demand and supply (2) Price determined by Cost and Profit (3) Price determined by Cost of production (4) Price determined to maximise profit

Last Answer :  Price determined by demand and supply

The fact that organisational customers purchase products to be used directly or indirectly in the production of goods and services to satisfy customers' needs means that demand for industrial products is: A)joint B)economically stable C)derived D)inelastic E)more fluctuating

Description : The fact that organisational customers purchase products to be used directly or indirectly in the production of goods and services to satisfy customers' needs means that demand for industrial products is: A)joint B)economically stable C)derived D)inelastic E)more fluctuating

Last Answer : C)derived

Product Production and ion and/or shipping costs are always considered in which of the following locat g location decision methods? a. factor rating method b. transportation method c. locational locational break-even break-even analysis analysis d. center-of-gravity center-of-gravity method

Description : Product Production and ion and/or shipping costs are always considered in which of the following locat g location decision methods? a. factor rating method b. transportation method c. locational locational break-even break-even analysis analysis d. center-of-gravity center-of-gravity method

Last Answer : b. transportation method

Which one of the following is not a feature of monopoly? (1) Single seller of the product (2) Heavy selling costs (3) Barriers to entry of new firms (4) Price discriminations

Description : Which one of the following is not a feature of monopoly? (1) Single seller of the product (2) Heavy selling costs (3) Barriers to entry of new firms (4) Price discriminations

Last Answer : (2) Heavy selling costs Explanation: Heavy selling cost is one of the defining features of an oligopoly. Firms resort to heavy selling cost to attract customers. Under this market ... mainly by heavy advertising and promotional expenditure that ultimately adds to the total selling cost.

Which one of the following is not a feature of monopoly ? (1) Single seller of the product (2) Heavy selling costs (3) Barriers to entry of new firms (4) Price discriminations

Description : Which one of the following is not a feature of monopoly ? (1) Single seller of the product (2) Heavy selling costs (3) Barriers to entry of new firms (4) Price discriminations

Last Answer : Heavy selling costs

Elasticity of demand measures the A.Sensitivity of sales to changes in a particular causal factor B.Sensitivity of production to changes in a particular cost C.Value of price and cost D.Volume of product

Description : Elasticity of demand measures the A.Sensitivity of sales to changes in a particular causal factor B.Sensitivity of production to changes in a particular cost C.Value of price and cost D.Volume of product

Last Answer : A.Sensitivity of sales to changes in a particular causal factor

Comparative advantage occurs when (a) A country can produce more goods than anyone else (b) A country has a lower opportunity cost in the production of a good than any other country © A country has more product lines than other countries (d) The exchange rate appreciates.

Description : Comparative advantage occurs when (a) A country can produce more goods than anyone else (b) A country has a lower opportunity cost in the production of a good than any other country © A country has more product lines than other countries (d) The exchange rate appreciates.

Last Answer : (b) A country has a lower opportunity cost in the production of a good than any other country