MPA871 TMA

MPA871 List of Questions

Q1 The quantity of a firmâ??s product that can be sold at a given price over time is known as the ______ for the firmâ??s product.
supply
given
demand
derived

Q2 _______ demand depends mainly on the commodity price, price of their substitutes, current disposable income of the consumers, the consumersâ?? ability to adjust their consumption pattern, and their susceptibility to advertisement of new products.
Long term
short term
medium term
durable

Q3 The demand for ____ goods change linearly, while the demand the demand for durable goods change exponentially as the stock of durable goods changes..
non-durable
durable
perishable
non-perishable

Q4 The ______ of demand can be defined as the degree of responsiveness of demand to changes in the consumerâ??s income.
price-inelasticity
income-elasticity
income-inelasticity
price-elasticity

Q5 _________ is the first derivative of the total revenue (TR) function, and that TR = PQ (P = unit price; Q = quantity sold)
Regional Cost (RC)
Regional Revenue (RR)
Marginal Cost (MC)
Marginal Revenue (MR)

Q6 A _____ firm would be interested in knowing whether increasing or decreasing the commodity price would maximise revenue.
cost-maximising
cost-minimising
revenue-maximising
revenue-minimising

Q7 The ________ about the future product prices, income, and supply position of goods play significant role in the determination of demand for goods and services in the short run.
sellersâ?? expectations
consumersâ?? expectations
Producers’ expectation
Peoples’ expectation

Q8 A rational consumer who expects a high rise in the price of a _____ commodity would buy more of it at the high current price with a view to avoiding the pinch of the high price rise in the future.
nonperishable
perishable
domestic
essential

Q9 Advertising cost helps in increasing product demands in the following areas except:
by informing the potential consumers about the productâ??s availability
by showing the productâ??s superiority over the rival product
by influencing producerâ??s choice against the rival product
by setting new fashions and changing tastes

Q10 _______ are incurred while attempting to promote sales.
Promotion cost
Advertisement costs
Marketing cos
Production cost

Q11 Consumersâ?? tastes and preferences play important role in the determination of the ______ for a product.
demand
supply
price
taste

Q12 All such goods that add to the pleasure and ______ of the consumer without enhancing his or her earning fall in the category of luxury goods.
normal
inferior
prestige
essential consumer goods

Q13 Normal goods are goods demanded in ____ quantities as consumerâ??s income rises.
decreasing
increasing
higher
lower

Q14 inferior goods as goods in which their demands decrease as consumerâ??s ____ increases, beyond a certain level of income.
income
goods
normal
demand

Q15 Economists often begin the analysis of individualâ??s choices by specifying a basic set of postulates (or axioms) that characterize ______ behaviour.
utility
ratio
reason
rational

Q16 _______ is used to refer to situations in which economic agents exert some market power in the determination of prices.
Imperfectly competitive
perfectly competitive
competitive price
cost ratio

Q17 In a ______ price system, we assume the number, n, of well-defined, homogeneous goods in a given economy.
Imperfectly competitive
perfectly competitive
competitive price
cost ratio

Q18 Economists believe that a ______ price system yields an efficient allocation of resources.
Imperfectly competitive
perfectly competitive
competitive price
cost ratio

Q19 The following are the problems of monetary policy except
the uneven incidence of monetary policy
complaince with the treasure
Liquidity Ratio
timing

Q20 ______refers to the interest rate with which the Central Bank can lend money to commercial banks.
Discount Rate
Open Market Operation
Liquidity Ratio
Parity Changes

Q21 The quantity of a firmâ??s product that can be sold at a given price over time is known as the ______ for the firmâ??s product.
supply
given
demand
derived

Q22 _______ demand depends mainly on the commodity price, price of their substitutes, current disposable income of the consumers, the consumersâ?? ability to adjust their consumption pattern, and their susceptibility to advertisement of new products.
Long term
short term
medium term
durable

Q23 The demand for ____ goods change linearly, while the demand the demand for durable goods change exponentially as the stock of durable goods changes.
non-durable
durable
perishable
non-perishable

Q24 The ______ of demand can be defined as the degree of responsiveness of demand to changes in the consumerâ??s income.
price-inelasticity
income-elasticity
income-inelasticity
price-elasticity

Q25 _________ is the first derivative of the total revenue (TR) function, and that TR = PQ (P = unit price; Q = quantity sold)
Regional Cost (RC)
Regional Revenue (RR)
Marginal Cost (MC)
Marginal Revenue (MR)

Q26 A _____ firm would be interested in knowing whether increasing or decreasing the commodity price would maximise revenue.
cost-maximising
cost-minimising
revenue-maximising
revenue-minimising

Q27 The ________ about the future product prices, income, and supply position of goods play significant role in the determination of demand for goods and services in the short run.
sellersâ?? expectations
consumersâ?? expectations
Producers’ expectation
Peoples’ expectation

Q28 A rational consumer who expects a high rise in the price of a _____ commodity would buy more of it at the high current price with a view to avoiding the pinch of the high price rise in the future.
nonperishable
perishable
domestic
essential

Q29 Advertising cost helps in increasing product demands in the following areas except:
by informing the potential consumers about the productâ??s availability
by showing the productâ??s superiority over the rival product
by influencing producerâ??s choice against the rival product
by setting new fashions and changing tastes

Q30 _______ are incurred while attempting to promote sales.
Promotion cost
Advertisement costs
Marketing cos
Production cost

Q31 Consumersâ?? tastes and preferences play important role in the determination of the ______ for a product.
demand
supply
price
taste

Q32 All such goods that add to the pleasure and ______ of the consumer without enhancing his or her earning fall in the category of luxury goods.
normal
inferior
prestige
essential consumer goods

Q33 Normal goods are goods demanded in ____ quantities as consumerâ??s income rises.
decreasing
increasing
higher
lower

Q34 inferior goods as goods in which their demands decrease as consumerâ??s ____ increases, beyond a certain level of income.
income
goods
normal
demand

Q35 Economists often begin the analysis of individualâ??s choices by specifying a basic set of postulates (or axioms) that characterize ______ behaviour.
utility
ratio
reason
rational

Q36 _______ is used to refer to situations in which economic agents exert some market power in the determination of prices.
Imperfectly competitive
perfectly competitive
competitive price
cost ratio

Q37 In a ______ price system, we assume the number, n, of well-defined, homogeneous goods in a given economy.
Imperfectly competitive
perfectly competitive
competitive price
cost ratio

Q38 Economists believe that a ______ price system yields an efficient allocation of resources.
Imperfectly competitive
perfectly competitive
competitive price
cost ratio

Q39 The following are the problems of monetary policy except
the uneven incidence of monetary policy
complaince with the treasure
Liquidity Ratio
timing

Q40 ______refers to the interest rate with which the Central Bank can lend money to commercial banks.
Discount Rate
Open Market Operation
Liquidity Ratio
Parity Changes

Q41 The quantity of a firmâ??s product that can be sold at a given price over time is known as the ______ for the firmâ??s product.
supply
given
demand
derived

Q42 _______ demand depends mainly on the commodity price, price of their substitutes, current disposable income of the consumers, the consumersâ?? ability to adjust their consumption pattern, and their susceptibility to advertisement of new products.
Long term
short term
medium term
durable

Q43 The demand for ____ goods change linearly, while the demand the demand for durable goods change exponentially as the stock of durable goods changes.
non-durable
durable
perishable
non-perishable

Q44 The ______ of demand can be defined as the degree of responsiveness of demand to changes in the consumerâ??s income.
price-inelasticity
income-elasticity
income-inelasticity
price-elasticity

Q45 _________ is the first derivative of the total revenue (TR) function, and that TR = PQ (P = unit price; Q = quantity sold)
Regional Cost (RC)
Regional Revenue (RR)
Marginal Cost (MC)
Marginal Revenue (MR)

Q46 A _____ firm would be interested in knowing whether increasing or decreasing the commodity price would maximise revenue.
cost-maximising
cost-minimising
revenue-maximising
revenue-minimising

Q47 The ________ about the future product prices, income, and supply position of goods play significant role in the determination of demand for goods and services in the short run.
sellersâ?? expectations
consumersâ?? expectations
Producers’ expectation
Peoples’ expectation

Q48 A rational consumer who expects a high rise in the price of a _____ commodity would buy more of it at the high current price with a view to avoiding the pinch of the high price rise in the future.
nonperishable
perishable
domestic
essential

Q49 Advertising cost helps in increasing product demands in the following areas except:
by informing the potential consumers about the productâ??s availability
by showing the productâ??s superiority over the rival product
by influencing producerâ??s choice against the rival product
by setting new fashions and changing tastes

Q50 _______ are incurred while attempting to promote sales.
Promotion cost
Advertisement costs
Marketing cos
Production cost

Q51 Consumersâ?? tastes and preferences play important role in the determination of the ______ for a product.
demand
supply
price
taste

Q52 All such goods that add to the pleasure and ______ of the consumer without enhancing his or her earning fall in the category of luxury goods.
normal
inferior
prestige
essential consumer goods

Q53 Normal goods are goods demanded in ____ quantities as consumerâ??s income rises.
decreasing
increasing
higher
lower

Q54 inferior goods as goods in which their demands decrease as consumerâ??s ____ increases, beyond a certain level of income.
income
goods
normal
demand

Q55 Economists often begin the analysis of individualâ??s choices by specifying a basic set of postulates (or axioms) that characterize ______ behaviour.
utility
ratio
reason
rational

Q56 _______ is used to refer to situations in which economic agents exert some market power in the determination of prices.
Imperfectly competitive
perfectly competitive
competitive price
cost ratio

Q57 In a ______ price system, we assume the number, n, of well-defined, homogeneous goods in a given economy.
Imperfectly competitive
perfectly competitive
competitive price
cost ratio

Q58 Economists believe that a ______ price system yields an efficient allocation of resources.
Imperfectly competitive
perfectly competitive
competitive price
cost ratio

Q59 The following are the problems of monetary policy except
the uneven incidence of monetary policy
complaince with the treasure
Liquidity Ratio
timing

Q60 ______refers to the interest rate with which the Central Bank can lend money to commercial banks.
Discount Rate
Open Market Operation
Liquidity Ratio
Parity Changes

Q61 The quantity of a firmâ??s product that can be sold at a given price over time is known as the ______ for the firmâ??s product.
supply
given
demand
derived

Q62 _______ demand depends mainly on the commodity price, price of their substitutes, current disposable income of the consumers, the consumersâ?? ability to adjust their consumption pattern, and their susceptibility to advertisement of new products.
Long term
short term
medium term
durable

Q63 The demand for ____ goods change linearly, while the demand the demand for durable goods change exponentially as the stock of durable goods changes.
non-durable
durable
perishable
non-perishable

Q64 The ______ of demand can be defined as the degree of responsiveness of demand to changes in the consumerâ??s income.
price-inelasticity
income-elasticity
income-inelasticity
price-elasticity

Q65 _________ is the first derivative of the total revenue (TR) function, and that TR = PQ (P = unit price; Q = quantity sold)
Regional Cost (RC)
Regional Revenue (RR)
Marginal Cost (MC)
Marginal Revenue (MR)

Q66 A _____ firm would be interested in knowing whether increasing or decreasing the commodity price would maximise revenue.
cost-maximising
cost-minimising
revenue-maximising
revenue-minimising

Q67 The ________ about the future product prices, income, and supply position of goods play significant role in the determination of demand for goods and services in the short run.
sellersâ?? expectations
consumersâ?? expectations
Producers’ expectation
Peoples’ expectation

Q68 A rational consumer who expects a high rise in the price of a _____ commodity would buy more of it at the high current price with a view to avoiding the pinch of the high price rise in the future.
nonperishable
perishable
domestic
essential

Q69 Advertising cost helps in increasing product demands in the following areas except:
by informing the potential consumers about the productâ??s availability
by showing the productâ??s superiority over the rival product
by influencing producerâ??s choice against the rival product
by setting new fashions and changing tastes

Q70 _______ are incurred while attempting to promote sales.
Promotion cost
Advertisement costs
Marketing cos
Production cost

Q71 Consumersâ?? tastes and preferences play important role in the determination of the ______ for a product.
demand
supply
price
taste

Q72 All such goods that add to the pleasure and ______ of the consumer without enhancing his or her earning fall in the category of luxury goods.
normal
inferior
prestige
essential consumer goods

Q73 Normal goods are goods demanded in ____ quantities as consumerâ??s income rises.
decreasing
increasing
higher
lower

Q74 inferior goods as goods in which their demands decrease as consumerâ??s ____ increases, beyond a certain level of income.
income
goods
normal
demand

Q75 Economists often begin the analysis of individualâ??s choices by specifying a basic set of postulates (or axioms) that characterize ______ behaviour.
utility
ratio
reason
rational

Q76 _______ is used to refer to situations in which economic agents exert some market power in the determination of prices.
Imperfectly competitive
perfectly competitive
competitive price
cost ratio

Q77 In a ______ price system, we assume the number, n, of well-defined, homogeneous goods in a given economy.
Imperfectly competitive
perfectly competitive
competitive price
cost ratio

Q78 Economists believe that a ______ price system yields an efficient allocation of resources.
Imperfectly competitive
perfectly competitive
competitive price
cost ratio

Q79 The following are the problems of monetary policy except
the uneven incidence of monetary policy
complaince with the treasure
Liquidity Ratio
timing

Q80 ______refers to the interest rate with which the Central Bank can lend money to commercial banks.
Discount Rate
Open Market Operation
Liquidity Ratio
Parity Changes

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