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 ;
Description : Oligopoly market is known for …………….. (a) Price flexibility ; (b) Price rigidity ; (c) Price discrimination ; (d) All the three
Last Answer : (b) Price rigidity ;
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 ;
Description : 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
Last Answer : (a) Price discrimination ;
Description : Shift in supply curve is cause by (a) Change in citrus paribus conditions ; (b) Increase in price; (c) Decrease in price ; (d) Change in consumer income
Last Answer : (a) Change in citrus paribus conditions ;
Description : 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
Last Answer : (a) The products demand is sensitive to price variation;
Description : Which of these is associated with a monopolistic competitive market – (a) Product differentiation ; (b) Homogeneous Product ; (c) Normal in short run; (d) Single buyer
Last Answer : (c) Normal in short run;
Description : Which of the following is/are the characteristic of a monopolistically competitive market (a) No restriction on exit and entry ; (b) Many sellers ; (c) Product differentiation ; (d) All the three
Last Answer : ; (d) All the three
Description : In a competitive market ……………….. is the price taker (a) Firm ; (b) Industry ; (c) Consumer ; (d) Trade association
Last Answer : (a) Firm ;
Description : In a competitive market ………. is the price maker (a) Firm ; (b) Industry ; (c) Consumer ; (d) Trade association
Last Answer : (b) Industry ;
Description : A monopoly firm makes more profit because (a) It has ability to choose among price and output combination ; (b) It can discriminate price; (c) It leave the consumer with no consumer surplus ; (d) it acts as a market leader
Last Answer : (a) It has ability to choose among price and output combination ;
Description : Adam Smith called price mechanism as (a) Invisible hands ; (b) Consumer sovereignty ; (c) Consumer liberty ; (d) Price regulation
Last Answer : (a) Invisible hands ;
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
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 ;
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
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 ;
Description : 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
Last Answer : (b) It forms a very small part of consumers household budget;
Description : One of the essential conditions of Monopolistic competition is - (1) Many buyers but one seller (2) Price discrimination (3) Product differentiation (4) Homogeneous product
Last Answer : (3) Product differentiation Explanation: Monopolistic competition is a type of imperfect competition such that many producers sell products that are differentiated from one another as goods but not ... the market becomes more like a perfectly competitive one where firms cannot gain economic profit.
Description : Which of the following pricing methods is used most often by retailers? A)Markup pricing B)Price discrimination C)Price differentiation D)Return on investment E)Price skimming
Last Answer : A)Markup pricing
Description : Charging more for a soft drink in a vending machine than in a supermarket is an example of: A)price discrimination. B)competition oriented pricing. C)price differentiation. D)cost-oriented pricing.
Last Answer : C)price differentiation
Description : One of the essential conditions of Monopolistic competition is (1) Many buyers but one seller (2) Price discrimination (3) Product differentiation (4) Homogeneous product
Last Answer : Product differentiation
Description : A levy of excise duty on consumption of an item consumed will .. (a) Induce suppliers to pump in more quantity in the market; (b) Result in fall in the consumption of the commodity ... by the consumer ; (c) Lead to inflationary conditions ; (d) Place the consumer on lower indifference curve
Last Answer : (d) Place the consumer on lower indifference curve
Description : GDP at factor cost exceeds GDP at market price (a) When the factor income from abroad is negative ; (b) When depreciation on fixed capital exceeds income in investment; (c) When direct tax exceeds indirect tax ; (d) When subsidies exceeds indirect taxes.
Last Answer : (d) When subsidies exceeds indirect taxes.
Description : GDP at market price exceeds GDP at factor cost by the amount of revenue raised through ………………. (a) Direct taxes ; (b) Indirect taxes ; (c) Income tax ; (d) Tax on rents
Last Answer : ; (b) Indirect taxes ;
Description : Mention two ways in which consumer ignorance can cause their exploitation ? -SST 10th
Last Answer : Two ways in which consumer ignorance can be exploited: 1. Traders can practice unfair trade activities like weighing less by using faulty weights 2. Wrong information can be advertised through media.
Description : Change in price of the goods cause (a) Change in quantity demanded ; (b) Shift in demand curve ; (c) Change in price; (d) No effect on quantity demanded
Last Answer : (a) Change in quantity demanded ;
Description : A goods can be considered a normal goods in economics if increase in disposal income of the consumer causes (a) An increase in demand ; (b) No change in demand ; (c) Decrease in demand ; (d) Less than proportionate change in demand
Last Answer : (a) An increase in demand ;
Description : A goods can be considered inferior goods in economics if increase in disposal income of the consumer causes (a) An increase in demand ; (b) No change in demand ; (c) Decrease in demand ; (d) Less than proportionate change in demand
Last Answer : ; (c) Decrease in demand ;
Description : Which of these will have highly inelastic supply curve (a) Perishable goods ; (b) Consumer durables goods; (c) Items of elite class consumption ; (d) All the three
Last Answer : (a) Perishable goods ;
Description : Consumption demand does not depend upon the level of (a) Income ; (b) Propensity to consume ; (c) Consumer spending ; (d) Marginal efficiency of investment.
Last Answer : (d) Marginal efficiency of investment.
Description : Which of these are outside the domain of macro economics (a) Consumer behavior ; (b) National income ; (c) Economic growth; (d) Balance of payment and trade
Last Answer : (a) Consumer behavior ;
Description : There are two major categories of laws that directly affect marketing practices: procompetitive legislation and: A)consumer protection legislation B)unfair trade practices laws C)trading standards legislation D)consumer price discrimination legislation
Last Answer : A)consumer protection legislation
Description : CRR is used to (a) Combat inflation ; (b) Check black money ; (c) Check tax evasion ; (d) All the three
Last Answer : (a) Combat inflation ;
Description : ………………… is the personal income minus personal income tax and miscellaneous receipts of Government administrative departments. (a) Surplus income ; (b) Disposal income ; (c) Expendable income ; (d) Residual income
Last Answer : (b) Disposal income ;
Description : If we add……………. to national income we get NDP (a) Depreciation ; (b) Net foreign factor income ; (c) Indirect-tax ; (d) Transfer payment
Last Answer : (b) Net foreign factor income ;
Description : If we add……………. to net domestic production we get GDP (a) Depreciation ; (b) Direct tax ; (c) Indirect tax ; (d) Interest payment
Last Answer : (a) Depreciation ;
Description : If Nominal GDP is 11% and Real GDP is 6%, then the difference of 5% represent (a) Depreciation ; (b) Rate of inflation ; (c) Rate of interest ; (d) Tax burden
Last Answer : (b) Rate of inflation ;
Description : True value added (a) value added-depreciation ; (b) Value added – depreciation – tax ; (c) Value added – interest – tax ; (d) Value added – depreciation-interest
Last Answer : (a) value added-depreciation ;
Description : Personal taxes in India best illustrates a (a) Proportional tax system ; (b) Progressive tax system (c) Indirect tax system ; (d) Value added tax system
Last Answer : (b) Progressive tax system
Description : Ceteris paribus, an income tax (a) Increases the value of the expenditure multiplier and decreases the value of the net tax revenue multiplier; (b) Decreases the value of the expenditure and net tax ... multiplier and increases the value of the net tax revenue multiplier ; (d) None of the above.
Last Answer : (b) Decreases the value of the expenditure and net tax revenue multiplier;
Description : Personal disposable income is equal to .. (a) Wages and salaries + Dividends paid at home - Personal income tax (b) Wages and salaries + Dividends paid at home + Factor income ... + Dividends paid at home + Factor income received from abroad - Transfers from government - Personal income tax.
Last Answer : (c) Wages and salaries + Dividends paid at home + Factor income received from abroad + Transfers from government – Personal income tax.
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
Description : What will happen to the equilibrium price and quantity of peanut butter if peanuts increase in price and the price of jelly decreases? (a) the equilibrium price and quantity increase (b) the ... ) the equilibrium price will rise and the equilibrium quantity will be indeterminate (d) None of above
Last Answer : (c) the equilibrium price will rise and the equilibrium quantity will be indeterminate
Description : Which of the following is correct for the price ceiling which is set below the market s equilibrium price? (a) quantity demanded exceeds quantity supplied at the set price; (b) quantity demanded is less than quantity ... the set price ; (c) at the set price there is a surplus ; (d) None of above
Last Answer : (a) quantity demanded exceeds quantity supplied at the set price;
Description : Which of the following is correct for a price floor set above the equilibrium price? (a) quantity supplied is less than quantity demanded at the set price.; (b) at the set price there will be a shortage; (c) quantity supplied exceeds quantity demanded at the set price ; (d) None of above
Last Answer : (c) quantity supplied exceeds quantity demanded at the set price ;
Description : If supply and demand both shift outward, but demand shifts outward more than supply, the equilibrium price (a) will increase and quantity will increase ; (b) will increase and quantity will decrease; (c) will decrease and quantity will decrease ; (d) will decrease and quantity will increase
Last Answer : (a) will increase and quantity will increase ;
Description : As a certain type of clothing becomes more fashionable, we would expect its equilibrium price (a) to decrease and quantity will remain constant ; (b) and quantity will decrease; (c) to increase and quantity to decrease ; (d) and quantity to increase
Last Answer : ; (d) and quantity to increase
Description : A reduction in the number of producers will result in equilibrium price (a) increasing and quantity increasing ; (b) increasing and quantity decreasing ; (c) decreasing and quantity increasing ; (d) decreasing and quantity decreasing
Last Answer : (b) increasing and quantity decreasing ;
Description : A shift outward in supply curve will result in equilibrium price (a) increasing and quantity increasing ; (b) increasing and quantity decreasing ; (c) decreasing and quantity increasing ; (d) decreasing and quantity decreasing
Last Answer : (c) decreasing and quantity increasing ;
Description : The price of Ford automobiles increases and the price of Chevrolets remains constant, the demand for Chevrolets will (a) increase ; (b) decrease ; (c) decrease then increase ; (d) increase then decrease
Last Answer : (a) increase ;