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Quiz 1 Set 1 with answers

Quiz 1 Set 1 with answers - INDIAN INSTITUTE OF MANAGEMENT...

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1 INDIAN INSTITUTE OF MANAGEMENT INDORE PGP 1 / Term 1 / 2011-12 Microeconomics for Managers Quiz1 TIME: 20 Minutes MARKS: 25 NAME (CAPS):_____________________ ______________________ SECTION____________ Instructions: 1. There are 20 questions and 4 pages in the question paper. 2. Use ink pens for writing. Untidy work or over-written responses will not be evaluated. 3. Each question carries one mark (except last question with 6 marks). 4. There is NO negative marking. 5. Indicate answers by writing A/B/C/D (upper case only) in the box for Questions 1 to 19. 6. You may change the answer by putting a cross, and writing the new answer on the left side of the box. 7. You may further change it by putting another cross, and writing the latest answer on the right side of the box. ______________________________________________________________________________ 1. Economics is about the allocation of scarce resources. Which of the following is NOT an example of economic scarcity? a. If Neha goes to see the movie Singh Is King on Saturday, she will not be able to afford buying ice cream. b. If Jenny studies for her exam this evening, she will not have time to walk her dog. c. If General Motors increases its production of SUVs this year, it will have to spend more on advertising. d. If Landmark stores increases the number of titles it carries, it will have to reallocate shelf space to accommodate the new titles.
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