BCOM-Business Economics MCQ



Question 151 : The aim of demand forecasting is to perceive ______ demand for the product.

  1. Present
  2. future
  3. Past
  4. None of these
  

Question 152 : The _____ method uses time series data.

  1. Trend
  2. Statistical
  3. Survey
  4. None of these
  

Question 153 : Demand forecasting is very essential to fix ______ target.

  1. Production
  2. None of the above
  3. sales
  

Question 154 : Demand forecasting is an estimate of the ______ demand.

  1. Present
  2. Past
  3. None of the above
  4. future
  

Question 155 : Statistical method is called qualitative method.

  1. true
  2. false
  

Question 156 : Under consumer survey method the consumers are interviewed directly.

  1. true
  2. false
  

Question 157 : In test marketing method, a market experiment is performed under artificial market situation.

  1. true
  2. false
  

Question 158 : Statistical method is more frequently used to estimate demand.

  1. true
  2. false
  

Question 159 : Demand forecasting will help to determine sales target.

  1. true
  2. false
  

Question 160 : Demand forecasting at firm level involves forecasting the demand for the whole industry.

  1. true
  2. false
  

Question 161 : Under consumers survey method opinion of different expert are collected.

  1. true
  2. false
  

Question 162 : Expert opinion method is more accurate and reliable.

  1. true
  2. false
  

Question 163 : Demand forecasting is important for the firms.

  1. true
  2. false
  

Question 164 : Regression method is prescriptive as well as descriptive.

  1. true
  2. false
  

Question 165 : Regression method collect historical data on all the selected variables.

  1. true
  2. false
  

Question 166 : Time Series model does not address any other variables.

  1. true
  2. false
  

Question 167 : Experimentation in laboratory involves a formation of small laboratory and creating an artificial market situation.

  1. true
  2. false
  

Question 168 : Trend refers to :

  1. Short-term variations
  2. Long-term movement of data
  3. Perfection
  4. Regression
  

Question 169 : An average of past observations used to predict future referred to :

  1. Delphi method
  2. Moving average method
  3. Sales
  4. Managerial skill
  

Question 170 : Which of the following component of time covers analysis referred to long time period?

  1. Trade cycle
  2. Trend
  3. Raulan variation
  4. All of the above
  

Question 171 : Demand forecasting is always :

  1. Conditional
  2. Unreliable
  3. Accurate
  4. Trustworthy
  

Question 172 : Seasonal trend refers to :

  1. Cyclical fluctuation
  2. Variations within a year time
  3. Very long period
  4. None of the above
  

Question 173 : Demand forecasting is an estimate of the _____ demand.

  1. Past
  2. Present
  3. Future
  4. None of these
  

Question 174 : The methods of demand forecasting is are

  1. Survey method
  2. Statistical method
  3. Only (a)
  4. Both (a) and (b)
  

Question 175 : The _____ method uses time series data.

  1. Sample survey
  2. Delphi
  3. Laboratory experimentation
  4. Trend
  

Question 176 : Expert opinion is a _____.

  1. Survey method
  2. Statistical method
  3. both a and b
  4. none of the above
  

Question 177 : Production function refers to _____ of input into output.

  1. transformation
  

Question 178 : Addition made to total product by adding on extra unit of labour is defined as the _____ of labour.

  1. marginal product
  

Question 179 : A producers output equilibrium is determined at the point of _____ between isovant and isocost lines.

  1. tangency
  

Question 180 : A proportional increase in output in relation to the charge in input implies _____ returns to scale.

  1. minimum
  2. constant
  3. maximum
  4. None of these
  

Question 181 : When percentage change in output is greater than that of input, it is the phenomenon of _____ returns to scale.

  1. constant
  2. increasing
  3. None of these
  4. decreasing
  

Question 182 : When marginal product is zero total product is _____.

  1. constant
  2. minimum
  3. None of these
  4. maximum
  

Question 183 : Labour economy is caused by ______.

  1. Better organisation
  2. Time management
  3. Specialisation/division of labour
  4. Mangerial Efficieny
  

Question 184 : When managerial costs per unit declines it is the case of ______.

  1. Managerial economy
  2. none of there
  

Question 185 : A double decker bus is an example of ______ economy of increased dimension.

  1. Technical
  

Question 186 : A firm experiences ______ economics of scale when its size expands.

  1. none of there
  2. External
  3. Internal
  

Question 187 : Localisation of industry confers ______ economic to the clustering firm.

  1. Internal
  2. none of there
  3. External
  

Question 188 : ______ refers to total product per unit of variable factor.

  1. average product
  

Question 189 : ______ is the functional relationship between physical input and output.

  1. Management function
  2. production function
  3. Labour function
  4. None of these
  

Question 190 : The scale of production can varied only in the ______.

  1. reduction
  2. none of there
  

Question 191 : Economies of scale lead to ______ in cost of production.

  1. None of these
  2. long run
  3. Short run
  

Question 192 : ______ was initially called as the law of diminishing returns.

  1. law of variable proportion
  2. none of there
  

Question 193 : The ______ are the locus of points of an iso-quants where the marginal product of factors are zero.

  1. Ridge line
  

Question 194 : When the average product is maximum, marginal product is greater than average product.

  1. true
  2. false
  

Question 195 : In longrun all factors tend to be variable.

  1. true
  2. false
  

Question 196 : When marginal product is negative it is called the stage of negative returns.

  1. true
  2. false
  

Question 197 : Production function defines the master servant relationship.

  1. true
  2. false
  

Question 198 : When marginal product is zero, total product is minimum.

  1. true
  2. false
  

Question 199 : TPL falls when MPL falls.

  1. true
  2. false
  

Question 200 : Under increasing returns : MP > AP

  1. true
  2. false
  
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