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

c. Goods supplied by government to PSEs
d. Goods supplied by government for the consumption of common man

40. 1 of the major achievement of a market economy is that
a. It produces an equitable distribution of in income and wealth
b. It advocates government intervention
c. It provides for a decentralized allocation of resources
d. It provides for a centralized allocation of resources


Group B

1. Decision-making implies
a. Taking a final decision on a particular problem
b.Giving judgment on a particular problem
c. Selecting the best out of several option course of actions
d. Selecting option solutions.

2. Managerial Economics deals with
a. Social responsibilities of a business unit
b. Social behavior of a business unit
c. social activities of a business unit
e. Social attitudes of a business unit

3. Market Demand Schedule indicates the
a. Total price and demand
b. Sum of all individual demand schedules
c. Total demand of all consumers
d. Aggregate behavior of the market

4. X and Y are 2 products which are considered as close substitutes of every other if
a. Increase in the price of 1 leads to reduce in the demand of a different and vice-versa.
b. Increase in the price of 1 leads to increase in the demand for the other and vice-versa.
c. Increase in the price of 1 will have no impact on the demand for the other
d. Fall in the price of 1 lead to fall in the demand of the other.

5. A firm can make use of the sales forecasts made by the industry.
a. As a powerful tool for formulating its profit policy.
b. As a powerful tool for formulating its price policy.
c. As a powerful tool for formulating its inventory policy.
d. As a powerful tool for formulating its sales policy & sales strategy.

6. To estimate future demands an instant food manufacturing company can conveniently make use of.
a. Survey of buyer’s intentions.
b. Collective opinion method.
c. Expert opinion method.
d. End - use method.

7. To avoid “halo – effects “and “ego involvements “in demand forecasting a firm can make use of.
a. Input – output method.
b. Opinion poll method.
c. Delphi method or expert opinion method.
d. Sample survey method.

Earning:   Approval pending.