Business Economics

131. The no. of firms under oligopoly is

1. 1
2. 2
3. many
4. few

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132. Growth curve approach is used for forecasting demand of ______________ products

1. New
2. Old
3. Existing
4. Both old and existing.

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133. A positive income elasticity may be

1. Unit income elasticity
2. Income elasticity greater than unity
3. Income elasticity less than unity
4. Any of the above

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134. The concept of Elasticity of Demand was introduced by

1. Alfred Marshall
2. Lionel Robbins
3. Adam smith
4. J M Keynes

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135. When the quantity demanded falls due to a rise in price, it is called

1. Extension
2. Upward shift
3. Downward shift
4. Contraction

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136. Determinants of demand includes

1. Price of a commodity
2. Nature of commodity
3. Income and wealth of consumer
4. All the above

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137. Exceptional Demand Curve (Perverse demand curve)

1. Moving upward from left to right
2. Moving upward from right to left
3. Moving horizontally
4. Moving vertically

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138. Purposes of long term Demand forecasting doesn’t includes;

1. Planning of a new unit or expansion of existing unit.
2. Planning long term financial requirements.
3. Planning of manpower requirements.
4. Deciding suitable price policy

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139. Which of the following method of pricing is popular in wholesale and retail trades

1. skimming
2. penetrating
3. full cost pricing
4. target pricing

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140. ______________ is an "objective assessment of the future course of demand"

1. Demand Estimation
2. Demand analysis
3. Demand function
4. Demand forecasting

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