Sikkim-Manipal University of Health Medical and Technological Sciences (SMUHMTS) 2007 M.B.A MODEL MB0026 ECONOMICS SMU - Question Paper

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. Understanding of the position of market equilibrium is of very great importance in the
a. Formulation of pricing policy
b. Determination of output
c. Decision making process of the firm
d. Investment policy of the firm

14. An increase in supply demand remaining constant will change the equilibrium
a. Causing a fall in price
b. Causing a backward shift in supply curve
c. Causing no change in price
d. Causing a rise in price

15. If the proportionate change in supply is exactly equal and proportionate to the change in price than elasticity of supply is
a. Equal to zero
b. Greater than one
c. Less than one
d. Equal to one

16. Which of the subsequent is not an economic activity
a. A chartered accountant doing his own activity
b. A teacher teaching in a college
c. A son looking after his ailing mother
d. A manager managing his organization

17. Production function explains
a. The relationship ranging from Qty of inputs employed and the corresponding total production cost
b. The relationship ranging from the firms total revenue and total production cost
c. The relationship ranging from qty of inputs used and the corresponding output found
d. The relationship ranging from market price charged and volume supplied

18. In case of short run production function Qty of fixed input remains constant and
a. Qty of either 1 or 2 variable inputs change
b. Qty of 1 or 2 variable inputs are kept constant as Qty of fixed inputs change
c. The Qty of both fixed as well as variable inputs remains constant
d. The Qty of both variable and fixed input change

19. In case of long run production
a. The Qty of both fixed and variable inputs are changed
b. The Qty of both fixed and variable inputs are kept constant
c. The Qty of both fixed and variable inputs are changed in the identical proportions
d. The Qty of both fixed and variable inputs are changed in various proportions

Earning:   Approval pending.