MB0026_Managerial_Economics

MB0026_Managerial_Economics - MODEL PAPER MB0026 ECONOMICS...

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MODEL PAPER MB0026 ECONOMICS GROUP A 1 Mark Question ( 1 – 40) GROUP B 2 Mark Question (41—65) GROUP C 4 Mark Question (66 – 75) Group A 1. Managerial economics deals with the problem of a. An individual firm b. An industry c. An economy d. Global economy 2. Managerial Economics as a specialized branch of Economics a. Provide ready-made solutions to business problems b. Provide logic and methodology to find solutions to business problems c. Provide theoretical background to analyze business problems d. provide alternative answers to specific business problems. 3. Managerial economics as a new branch of Economics a. Highlights on analyzing business problems b. Acts totally independent of other subjects c. Uses new techniques to identify business and management problems d. Applies economic theories and concepts to solve business and management problems 4. Demand for a product refers to a. Various quantities that are demanded by consumers b. Various amounts desired by consumers c. Total quantity of a product demanded during a given period of time d. Total quantity of a product demanded at a particular price in the market during a given period of time.
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5. The relationship between price and demand is a. Direct b. Inverse c. Proportionate d. positive 6. Which of the assumptions on which the demand is based are a. Production Costs b. Technology c. Prices of Inputs d. Prices of other related goods and tastes and preferences 7. In case of increase in demand, the demand curve a. Shifts backwards b. Shifts forward c. Will have upward slope d. Will be horizontal 8. The Law of Demand assuming other things to remain constant, establishes the relationship between a. Income of the consumer and the quantity of a good demanded by him b. Price of a good and the quantity demanded c. Price of a good and the demand for its substitute d. Quantity demanded of a good and the relative prices of its complimentary goods. 9. Demand forecasting is made - for the a. For the existing products only. b. New products only. c. For both the existing products & for the new products. d..For the substitutes only 10. A firm to formulate its sales policy and sales strategy can make use of a. Sales forecast made by the other firms. b. Sales forecast made by the industry. c. Sales forecast made by the govt. d. Sales forecast made by the statistical organizations.
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11. Complete enumeration method and Sample survey method are the two variants of a. Collective Opinion method b. Expert opinion method c. Direct interview method d. End-Use method 12. Historical data is used in estimating future demand under a. Survey method b. Expert opinion method c. Statistical method d. Complete Enumeration method . 13.
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MB0026_Managerial_Economics - MODEL PAPER MB0026 ECONOMICS...

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