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.Management Sciences
Category: Economics Mcqs
If Toyota describes one of its cars of the future as being a moderately priced subcompact designed as a second family car to be used arround town; the car is ideal for running errands and visiting friends, then the company has just stated a potential new product in terms of a(n) ?
A. Product idea
B. Product image
C. Product concept
D. Product features
What is price support ?
A. To increase price artificially
B. Maintenance of price through public subsidy or government intervention
C. To enhance price
D. To maintain price at specific level
The Keynesian model is a good guide to ____ behavior and the classical model describes behavior in ______?
A. long run, short run
B. flexible imperfect markets
C. short-term long run
D. long run, imperfect markets
Compared to a perfectly competitive market a monopoly market will usually generate ?
A. higher prices and lower output
B. higher prices and higher output
C. lower prices and lower output
D. lower prices and higher output
If the price in a market is fixed by the government above equilibrium ?
A. There is excess equilibrium
B. There is excess supply
C. There is excess demand
D. There is equilibrium
The political organization that may have too much influence on elected officials because of its generous contribution is the________________?
A. Republican Club
B. Democratic Club
C. Political Action Committee
D. Rules Committee
Worker-managed socialism helped contribute to ________ ‘s rapid economic growth from 1959 to 1979?
A. Yugoslavia
B. Chile
C. Vietnam
D. Japan
In perfect price discrimination ?
A. The demand curve is the marginal cost curve
B. The average revenue equals the average cost
C. The marginal cost is the average cost curve
D. The demand curve is the marginal revenue
An allocation is Pareto-efficient if no reallocation of resources would make some people _______ without making others ________?
A. worse off; worse off
B. better off; better off
C. better off; worse off
D. equal, unequal
All of the following are criticisms leveled against marketing by critics EXCEPT ?
A. harming consumers through high prices
B. harming consumers through deceptive practices
C. harming consumers through high-pressure selling
D. harming consumers through too many product choices
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