The practice of selling same product to different persons at different price is called (a) Price discrimination ; (b) Price rigging ; (c) Price manipulation ; (d) Price Justification

The practice of selling same product to different persons at different price is called (a) Price discrimination ; (b) Price rigging ; (c) Price manipulation ; (d) Price Justification
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1 Answer

Answer :

(a) Price discrimination ;
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Related questions

Which among these is not a restrictive trade practice? A. Tie Up sales B. Price Discrimination C. Manipulation of Price D. All are restrictive trade practice

Description : Which among these is not a restrictive trade practice? A. Tie Up sales B. Price Discrimination C. Manipulation of Price D. All are restrictive trade practice

Last Answer : C. Manipulation of Price

When a monopolist charges different prices to each customer it is called price discrimination of – (a) First order ; (b) Second order ; (c) Third order ; (d) Fourth order

Description : When a monopolist charges different prices to each customer it is called price discrimination of – (a) First order ; (b) Second order ; (c) Third order ; (d) Fourth order

Last Answer : (a) First order ;

Oligopoly market is known for …………….. (a) Price flexibility ; (b) Price rigidity ; (c) Price discrimination ; (d) All the three

Description : Oligopoly market is known for …………….. (a) Price flexibility ; (b) Price rigidity ; (c) Price discrimination ; (d) All the three

Last Answer : (b) Price rigidity ;

In a pure monopoly firm a firm can make abnormal profit at the long run equilibrium level due to (a) Price discrimination;(b)Cost effectiveness ; (c) Banned entry of new firms ; (d) Sales promotion

Description : In a pure monopoly firm a firm can make abnormal profit at the long run equilibrium level due to (a) Price discrimination;(b)Cost effectiveness ; (c) Banned entry of new firms ; (d) Sales promotion

Last Answer : (c) Banned entry of new firms ;

Which of these is not a cause of price discrimination (a) Ignorance of consumer ; (b) Place differentiation ; (c) Variation in quality ; (d) Tax differentiation

Description : Which of these is not a cause of price discrimination (a) Ignorance of consumer ; (b) Place differentiation ; (c) Variation in quality ; (d) Tax differentiation

Last Answer : (d) Tax differentiation

Manipulation in CRR enables the RBI to ……. (a) Influence the lending ability of the commercial banks ; (b) Check unemployment growth; (c) Check poverty ; (d) Increase GDP

Description : Manipulation in CRR enables the RBI to ……. (a) Influence the lending ability of the commercial banks ; (b) Check unemployment growth; (c) Check poverty ; (d) Increase GDP

Last Answer : (a) Influence the lending ability of the commercial banks ;

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

What will happen if a firm in perfect competitive market, increase its output by 50% (a)Total sales revenue will also increase by 50% ; (b) (b)Selling price will come down by 50%; (c)Total sales revenue will decrease by 50% ; (d)Profit will increase by 25%

Description : What will happen if a firm in perfect competitive market, increase its output by 50% (a)Total sales revenue will also increase by 50% ; (b) (b)Selling price will come down by 50%; (c)Total sales revenue will decrease by 50% ; (d)Profit will increase by 25%

Last Answer : (a)Total sales revenue will also increase by 50% ;

If both the disposal income as well as number of suppliers of a product rises, the equilibrium (a) Price remain same ; (b) Price will go up ; (c) Quantity will go up ; (d) Quantity will go down

Description : If both the disposal income as well as number of suppliers of a product rises, the equilibrium (a) Price remain same ; (b) Price will go up ; (c) Quantity will go up ; (d) Quantity will go down

Last Answer : (c) Quantity will go up ;

If the supply of a product remain same with the increase in price, the possible reasons can be (a) Apprehension of further price hike ; (b) Limited production facility; (c) Commodity being a rare commodity ; (d) All the three

Description : If the supply of a product remain same with the increase in price, the possible reasons can be (a) Apprehension of further price hike ; (b) Limited production facility; (c) Commodity being a rare commodity ; (d) All the three

Last Answer : (d) All the three

A positive sloped supply curve for a product represents (a) Supply will move with movement in the price in the opposite direction; (b) Supply will move with the movement in the price in the same direction; (c) Both ; (d) None

Description : A positive sloped supply curve for a product represents (a) Supply will move with movement in the price in the opposite direction; (b) Supply will move with the movement in the price in the same direction; (c) Both ; (d) None

Last Answer : (b) Supply will move with the movement in the price in the same direction; 

When the price of complementary products increases, the demand of the other product will (a) Falls ; (b) Increases ; (c) Remains same ; (d) Increases by 25%

Description : When the price of complementary products increases, the demand of the other product will (a) Falls ; (b) Increases ; (c) Remains same ; (d) Increases by 25%

Last Answer : (a) Falls ;

If the price elasticity of a product is greater than 1, we can say that (a) The products demand is sensitive to price variation; (b) Product demand is insensitive to price variation; (c) Demand and price move in same directions ; (d) None of this

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Last Answer : (a) The products demand is sensitive to price variation; 

The type of unemployment that includes those persons who are unemployed for an intervening period of change over in job for better job is known as (a) Seasonal unemployment ; (b) Voluntary unemployment ; (c)Frictional unemployment (d) Technical unemployment

Description : The type of unemployment that includes those persons who are unemployed for an intervening period of change over in job for better job is known as (a) Seasonal unemployment ; (b) Voluntary unemployment ; (c)Frictional unemployment (d) Technical unemployment

Last Answer : (c)Frictional unemployment 

Which of the following is an example of a government transfer payment? (a) Purchase of a new car for the Ministry of Finance ; (b) Funding of a clinic to provide free vaccinations. ; (c) Free food coupons issued to persons in an anti-poverty program. ; (d) Funding of a new bridge in an urban area

Description : Which of the following is an example of a government transfer payment? (a) Purchase of a new car for the Ministry of Finance ; (b) Funding of a clinic to provide free vaccinations. ; (c) Free food coupons issued to persons in an anti-poverty program. ; (d) Funding of a new bridge in an urban area

Last Answer : (c) Free food coupons issued to persons in an anti-poverty program. ;

If there is simultaneous fall in consumers disposal income as well number of suppliers of a product in the market, the (a) Equilibrium quantity will decrease ; (b) Equilibrium price will decrease ; (c) Equilibrium price will go up ; (d) Equilibrium quantity will increase

Description : If there is simultaneous fall in consumers disposal income as well number of suppliers of a product in the market, the (a) Equilibrium quantity will decrease ; (b) Equilibrium price will decrease ; (c) Equilibrium price will go up ; (d) Equilibrium quantity will increase

Last Answer : (a) Equilibrium quantity will decrease ;

Market demand curve for a commodity is a (a) Horizontal summation of all the individual demand curve for that product (b) Summation of demand curve of competitive products (c) Demand curve of average demand and price of previous six months (d) Projected demand schedule for next three months

Description : Market demand curve for a commodity is a (a) Horizontal summation of all the individual demand curve for that product (b) Summation of demand curve of competitive products (c) Demand curve of average demand and price of previous six months (d) Projected demand schedule for next three months

Last Answer : (a) Horizontal summation of all the individual demand curve for that product 

According to law of demand (a) Higher the price higher the production of the product (b) Higher the price lower the cost of production (c) Lower the price higher the demand for the product (d) Higher price higher the quantity the more the consumer demand

Description : According to law of demand (a) Higher the price higher the production of the product (b) Higher the price lower the cost of production (c) Lower the price higher the demand for the product (d) Higher price higher the quantity the more the consumer demand

Last Answer : (c) Lower the price higher the demand for the product 

The demand for a product is 25 units when the price is `10, however the demand rises to 26 when the price is reduced to `9.9 per unit. The marginal revenue from production and sale of additional unit from 25 to 26 is (a) `7.4 ; (b) `(16) ; (c) `10 ; (d) `257.6

Description : The demand for a product is 25 units when the price is `10, however the demand rises to 26 when the price is reduced to `9.9 per unit. The marginal revenue from production and sale of additional unit from 25 to 26 is (a) `7.4 ; (b) `(16) ; (c) `10 ; (d) `257.6

Last Answer : (a) `7.4 ;

The individual demand and supply curve of a product are Dx = 12-2px, Sx=3+5px, where Px stand for price and Dx and Sc respectively stands for quantity demanded and quantity supplie(d) If there are 5000 consumers and 1000 suppliers for the product under question. What will be the equilibrium price (a) `4 ; (b) `5 ; (c) `3 ; (d) `4.5

Description : The individual demand and supply curve of a product are Dx = 12-2px, Sx=3+5px, where Px stand for price and Dx and Sc respectively stands for quantity demanded and quantity supplie(d) If there are 5000 consumers and 1000 suppliers ... be the equilibrium price (a) `4 ; (b) `5 ; (c) `3 ; (d) `4.5

Last Answer : ; (c) `3 ;

The Supply function of a product x is as Sx = 5px + 3. Where Px stand for price. The quantity supplied corresponding to price of `2 will be …………… (a) 18 ; (b) 13 ; (c) 15 ; (d) 23

Description : The Supply function of a product x is as Sx = 5px + 3. Where Px stand for price. The quantity supplied corresponding to price of `2 will be …………… (a) 18 ; (b) 13 ; (c) 15 ; (d) 23

Last Answer : (b) 13 ;

The demand function of a product x is as dx = 12-2Px, where Px stand for price. The quantity demanded corresponding to price of `2 will be ……………. (a) 8 ; (b) 6 ; (c) 5 ; (d) 10

Description : The demand function of a product x is as dx = 12-2Px, where Px stand for price. The quantity demanded corresponding to price of `2 will be ……………. (a) 8 ; (b) 6 ; (c) 5 ; (d) 10 

Last Answer : (a) 8 ;

Decreases in price of a product results in increased consumption of the product as the product becomes cheaper compared to other products. This effect is known as (a) Substitution effect ; (b) Income effect ; (c) Diminishing marginal utility concept; (b) Law of diminishing returns

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Last Answer : (a) Substitution effect ;

Increase in price of a product reduces the purchasing power as a result of which demand for a product goes up. This effect is known as (a) Substitution effect ; (b) Income effect ; (c) Diminishing marginal utility concept (d)Law of diminishing returns

Description : Increase in price of a product reduces the purchasing power as a result of which demand for a product goes up. This effect is known as (a) Substitution effect ; (b) Income effect ; (c) Diminishing marginal utility concept (d)Law of diminishing returns

Last Answer : ; (b) Income effect ;

The quantity that an individual supplier is prepared to supply over a period of time is a function of (a) Price of the product ; (b) Cost of production of the product ; (c) Both ; (d) None

Description : The quantity that an individual supplier is prepared to supply over a period of time is a function of (a) Price of the product ; (b) Cost of production of the product ; (c) Both ; (d) None

Last Answer : ; (c) Both ;

According to law of supply ……….. (a) Higher the price higher the production of the product; (b) Higher the price lower the cost of production ; (c) Lower the price lower the demand for the product; (d) Higher the price higher the quantity the seller is prepared to supply in market

Description : According to law of supply ……….. (a) Higher the price higher the production of the product; (b) Higher the price lower the cost of production ; (c) Lower the price lower the demand for the product; (d) Higher the price higher the quantity the seller is prepared to supply in market

Last Answer : (d) Higher the price higher the quantity the seller is prepared to supply in market 

Which of these is not a determinant of aggregate supply (a) Quantity demanded ; (b) Price of the product under consideration ; (c) Relative price of other goods ; (d) Future expectations about prices

Description : Which of these is not a determinant of aggregate supply (a) Quantity demanded ; (b) Price of the product under consideration ; (c) Relative price of other goods ; (d) Future expectations about prices 

Last Answer : (a) Quantity demanded ;

Which of the following is not a factor in market supply of a product (a) Cost of production ; (b) Number of buyers ; (c) Market price of the product; (d) Price of related products

Description : Which of the following is not a factor in market supply of a product (a) Cost of production ; (b) Number of buyers ; (c) Market price of the product; (d) Price of related products

Last Answer : (b) Number of buyers ;

Select the odd one (a) Price of the product ; (b) Cost of production ; (c) No. of suppliers ; (d) St. duties

Description : Select the odd one (a) Price of the product ; (b) Cost of production ; (c) No. of suppliers ; (d) St. duties

Last Answer : (a) Price of the product

Select the odd one (a) Consumer taste ; (b) Price of the goods ; (c) Change in population ; (d) Increase in price of product

Description : Select the odd one (a) Consumer taste ; (b) Price of the goods ; (c) Change in population ; (d) Increase in price of product

Last Answer : (d) Increase in price of product 

When the price of complementary products falls, the demand of the other product will (a) Fall ; (b) Increases ; (c) Remain stable ; (d) Drops by 25%

Description : When the price of complementary products falls, the demand of the other product will (a) Fall ; (b) Increases ; (c) Remain stable ; (d) Drops by 25% 

Last Answer :  (b) Increases ;

If the cross price elasticity of demand for two product is negative, then the two products are ………………. (a) Complementary to each other ; (b) Perfectly substitute for each other; (c) Completely competitive ; (d) Unrelated

Description : If the cross price elasticity of demand for two product is negative, then the two products are ………………. (a) Complementary to each other ; (b) Perfectly substitute for each other; (c) Completely competitive ; (d) Unrelated 

Last Answer : (a) Complementary to each other ;

Which of the following is not a factor is market supply of product (a) Cost of production ; (b) Number of buyers ; (c) Market price of the product ; (d) Price of related products

Description : Which of the following is not a factor is market supply of product (a) Cost of production ; (b) Number of buyers ; (c) Market price of the product ; (d) Price of related products

Last Answer :  (b) Number of buyers 

The quantity of a commodity which an individual is willing to purchase over a specific period of time is a function of (a) Price of the product ; (b) Disposal income ; (c) Taste and price of other commodities; (d) All the three

Description : The quantity of a commodity which an individual is willing to purchase over a specific period of time is a function of (a) Price of the product ; (b) Disposal income ; (c) Taste and price of other commodities; (d) All the three

Last Answer : (d) All the three

Price elasticity demand of product will be more elastic if it (a) Has no substitutes ; (b) Has number of substitutes ; (c) Is an item of necessity; (d) Is life saving Product

Description : Price elasticity demand of product will be more elastic if it (a) Has no substitutes ; (b) Has number of substitutes ; (c) Is an item of necessity; (d) Is life saving Product

Last Answer : ; (b) Has number of substitutes ;

Price elasticity of demand of a product will be more inelastic if (a) It forms a major part of consumer house hold budget; (b) It forms a very small part of consumers household budget; (c) It is inferior ; (d) It is for mass consumption

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Last Answer : (b) It forms a very small part of consumers household budget; 

Which of these is not a factor of cost function of a product (a) Market price of the product ; (b) Size of the plant ; (c) Output level ; (d) Prices of inputs

Description : Which of these is not a factor of cost function of a product (a) Market price of the product ; (b) Size of the plant ; (c) Output level ; (d) Prices of inputs

Last Answer : (a) Market price of the product ;

If a firms cost of raw material increases then (a) Market price of the final product will also increase (b) Equilibrium level of quantity also increases ; (c) Marginal cost curve will shift upward (d) Marginal cost curve will shift downward

Description : If a firms cost of raw material increases then (a) Market price of the final product will also increase (b) Equilibrium level of quantity also increases ; (c) Marginal cost curve will shift upward (d) Marginal cost curve will shift downward

Last Answer : ; (c) Marginal cost curve will shift upward

The net factor income earned within the domestic territory of a country must be equal to (a) Net Domestic Product at factor cost ; (b) Net Domestic Product at market price; (c) Net National Product at market price ; (d) Personal income.

Description : The net factor income earned within the domestic territory of a country must be equal to (a) Net Domestic Product at factor cost ; (b) Net Domestic Product at market price; (c) Net National Product at market price ; (d) Personal income.

Last Answer : (a) Net Domestic Product at factor cost ;

The Strategy used to charge different prices for the same product is called 1. Price discrimination 2. Price Revision 3. Tariffs 4. Restrictions 5. None of these

Description : The Strategy used to charge different prices for the same product is called 1. Price discrimination 2. Price Revision 3. Tariffs 4. Restrictions 5. None of these

Last Answer : Price discrimination

The Strategy used to charge different prices for the same product is called 1. Price discrimination 2. Price Revision 3. Tariffs 4. Restrictions 5. None of these

Description : The Strategy used to charge different prices for the same product is called 1. Price discrimination 2. Price Revision 3. Tariffs 4. Restrictions 5. None of these

Last Answer : Price discrimination

. In order to practice price discrimination, which of the following is needed? a. some degree of monopoly power b. an ability to separate the market c. an ability to prevent reselling d. all of the above

Description : . In order to practice price discrimination, which of the following is needed? a. some degree of monopoly power b. an ability to separate the market c. an ability to prevent reselling d. all of the above

Last Answer : d. all of the above

If price of Tea increases the demand of coffee will (a) Increase ; (b) Decrease ; (c) Remain same ; (d) Cannot say

Description : If price of Tea increases the demand of coffee will (a) Increase ; (b) Decrease ; (c) Remain same ; (d) Cannot say

Last Answer : (a) Increase

X a consumer spends his entire income on two commodities A and (B) if price of A increases by 10% and his expenditure on item B remains same, then the price elasticity of item A is (a) 1 ; (b) < 1 ; (c) > 1 ; (d) ≥

Description : X a consumer spends his entire income on two commodities A and (B) if price of A increases by 10% and his expenditure on item B remains same, then the price elasticity of item A is (a) 1 ; (b) < 1 ; (c) > 1 ; (d) ≥

Last Answer : (a) 1 ;

Tea and Coffee are perfect substitute of each other, given the price of Tea and Coffee being `100 and `200 per Kg. a consumer is prepared to buy 3 Kg. of each. If the price of tea remain same and the price of Coffee rises to `400 per kg. the demand for Tea goes to 6 Kg. and that of Coffee falls to 1Kg. The elasticity of substitution between Tea and Coffee is (a) 1 ; (b) 4 ; (c) 5 ; (d) 3

Description : Tea and Coffee are perfect substitute of each other, given the price of Tea and Coffee being `100 and `200 per Kg. a consumer is prepared to buy 3 Kg. of each. If the price of tea remain same and the price of ... elasticity of substitution between Tea and Coffee is (a) 1 ; (b) 4 ; (c) 5 ; (d) 3

Last Answer : (c) 5 ;

As per total outlay method, demand is said to be elastic if as result of change in price total outlay (a) Increases ; (b) Decrease ; (c) Remain same ; (d) None

Description : As per total outlay method, demand is said to be elastic if as result of change in price total outlay (a) Increases ; (b) Decrease ; (c) Remain same ; (d) None 

Last Answer : (c) Remain same ;

Adam Smith called price mechanism as (a) Invisible hands ; (b) Consumer sovereignty ; (c) Consumer liberty ; (d) Price regulation

Description : Adam Smith called price mechanism as (a) Invisible hands ; (b) Consumer sovereignty ; (c) Consumer liberty ; (d) Price regulation

Last Answer : (a) Invisible hands ;

The …………….. price that a customer is willing to pay for a given quantity is called demand price (a) Maximum ; (b) Minimum ; (c) Bargained ; (d) Floor

Description : The …………….. price that a customer is willing to pay for a given quantity is called demand price (a) Maximum ; (b) Minimum ; (c) Bargained ; (d) Floor

Last Answer : (a) Maximum 

The maximum quantity that a supplier is prepared to supply in the market at a given price is called (a) Economic order quantity ; (b) Optimum quantity ; (c) Supply quantity ; (d) Both or quantity

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Last Answer : ; (c) Supply quantity ;

The minimum price that a supplier expect to make available a specific quantity for sale is called (a) Demand price ; (b) Administered price ; (c) Cost price ; (d) Supply price

Description : The minimum price that a supplier expect to make available a specific quantity for sale is called (a) Demand price ; (b) Administered price ; (c) Cost price ; (d) Supply price

Last Answer :  (d) Supply price