Business Economics

81. ______________ means an attempt to determine the factors affecting the demand of a commodity or service and to measure such factors and their influences

1. Demand planning
2. Demand forecasting
3. Demand analysis
4. Demand estimation

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82. In the case of unitary elastic demand, the shape of demand curve is

1. Vertical line
2. Horizontal line
3. Rectangular hyperbola
4. Steep

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83. Demand for necessary goods (salt, rice, etc,) is ______________ and demand for comfort and luxury good is

1. Elastic, inelastic
2. Inelastic, elastic
3. Elastic, elastic
4. Inelastic, inelastic

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84. ______________ Method is also known as Sales‐Force –Composite method or collective opinion method

1. Opinion survey
2. Expert opinion
3. Delphi method
4. Consumer interview method

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85. Which one of the following is an internal factor influencing pricing

1. demand
2. competition
3. distribution channel
4. product life cycle

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86. ______________ forecasting is more important from managerial view point as it helps the management in decision making with regard to the firms demand and production.

1. Macro level
2. Industry level
3. Firm level
4. None of these

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87. Total Revenue will be maximum at the point where Marginal Revenue is

1. One
2. Zero
3. <1
4. >1

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88. Under ______________ Method, a panel is selected to give suggestions to solve the problems in hand

1. Opinion survey
2. Expert opinion
3. Delphi method
4. Consumer interview

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89. Method of charging low price initially called ______________

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

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90. Which of the following is/ are the reason for adopting skimming price strategy

1. When the buyers are not able to compare the value and utility.
2. To attract the high income customers.
3. When the product has distinctive qualities, luxuries
4. All the above

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