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Management Questions and Answers for Competitive Exams | MBA BBA Quiz Set 23

Questions
1 Which of the following are not the assumptions related to the theory of consumer behaviour as per the cardinal utility approach ?

i) Rational consumer

(ii) Unlimited money income

(iii) Utility cardinally measurable

(iv) Diminishing marginal utility of money

(v) Constant marginal utility of commodities

(vi) Maximization of satisfaction

(vii) Utility is additive

Code :
1 (i), (iii), (v) and (vii)
2 (ii), (iv) and (v)
3 (i), (iii), (iv) and (vii)
4 (vi) and (vii)

Answer: (ii), (iv) and (v)
2 Which one of the following properties is not the property of isoquants in terms of inputs and output ?
1 Negative slope
2 Concave to the origin
3 Non-intersecting and non-tangential
4 Upper isoquants represent higher level of output

Answer: Concave to the origin
3 Which one of the following market structures has many firms with real or perceived product differentiation and some control over price of their produ
1 Perfect competition
2 Monopolistic competition
3 Oligopoly
4 Monopoly

Answer: Monopolistic competition
4 Which one of the following is not covered in the study of macro economics ?
1 Price and output determination of a commodity
2 Inter-relationships among aggregate consumption, savings and investment
3 Business cycles
4 Factors and forces of economic fluctuations

Answer: Price and output determination of a commodity
5 An open system of organisational structure becomes an efficient and effective system when it covers which four of the following ?

(a) Law of equifinality

(b) Negative entropy

(c) Self-regulating

(d) Self correction through feedback

(e) Hierarchical communication only

(f) Dynamic equilibrium

Code :
1 (a), (b), (d) and (f)
2 (b), (c), (d) and (e)
3 (a), (c), (d) and (f)
4 (c), (d), (e) and (f)

Answer:(a), (c), (d) and (f)
6 Which of the following is the fundamental assumption about human behaviour ?
1 Caused behaviour
2 Goal oriented behaviour
3 Motivated behaviour
4 All of the above

Answer:All of the above
7 Assertion (A) : The interest in human relations at work has become very popular in modern days.

Reason (R) : Social pressures brought increasing pressures for an improved human climate in organizations.

Codes :
1 Assertion (A) and Reasoning (R) both are correct and (R) is correct explanation of (A).
2 Assertion (A) and Reasoning (R) both are correct, but (R) is not right explanation of (A).
3 Assertion (A) is correct, whereas Reasoning (R) is incorrect.
4 Reasoning (R) is correct, whereas Assertion (A) is incorrect.

Answer:Assertion (A) and Reasoning (R) both are correct and (R) is correct explanation of (A).
8 Assertion (A) : The rural people who work in the rural handicraft industry are mainly women and those from the weaker sections of the society.

Reason (R) : The main objective of Khadi and village industries commission (KVIC) is to promote women and weaker section of the society.

Codes :
1 (A) is correct but (R) is not correct.
2 Both (A) and (R) are correct and (R) is the correct explanation of (A).
3 Both (A) and (R) are correct but (R) is not the correct explanation of (A).
4 Both (A) and (R) are incorrect.

Answer:(A) is correct but (R) is not correct.
9 A graphical method used to help identify the relationship between a measure of business activity and staffing levels of an organization is known as :
1 Managerial judgment
2 Trend analysis
3 Ratio analysis
4 Scatter plot

Answer:Scatter plot
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10 Assertion (A) : The stage or level at which grievance settlement takes place, is an index of the climate or spirit that prevails in the organisation.

Reason (R) : The lower the level of settlement, the quicker the redressal of a grievance.

Codes :
1 (A) is correct, but (R) is incorrect.
2 (A) is incorrect, but (R) is correct.
3 Both (A) and (R) are correct, but (R) is not the correct explanation of (A).
4 Both (A) and (R) are correct and (R) is the correct explanation of (A).

Answer:Both (A) and (R) are correct, but (R) is not the correct explanation of (A).
11 Extra-mural welfare activities include all those welfare activities or services or amenities, which are undertaken :
1 To give extra benefits to employees
2 As surprise bonus announced to employees
3 Outside the factories
4 Inside the factories

Answer:Outside the factories
12 Which one is not correct ?
1 The NPV and IRR methods make the same accept/reject decisions for independent projects.
2 The payback period is defined as the number of years required to recover a projects’ cost.
3 The discounted payback method discounts cash flows at the rate of interest.
4 The NPV method assumes that cash flows will be reinvested at the firm’s cost of capital.

Answer:The discounted payback method discounts cash flows at the rate of interest.
13 Consider the following statements and indicate the correct answer :

Statement I : The holistic marketing concept is based on the development, design, and implementation of marketing programmes, processes, and activities that recognize their breadth and interdependencies.

Statement II : Holistic maketing acknowledges that everything matters in marketing – and that a broad, integrated perspective is often necessary.

1 Only Statement I is correct.
2 Only Statement II is correct.
3 Both Statements I and II are correct.
4 Both Statements I and II are incorrect.

Answer:Both Statements I and II are correct.
14 Which one of the following is a consumer goods market testing method in which the company chooses a few representative cities and puts on a full marketing communications campaign, and the sales force tries to sell the trade on carrying the product and giving it good shelf exposure ?
1 Test markets
2 Simulated test marketing
3 Sales-wave research
4 Controlled test marketing

Answer:Test markets
15 _______ is the process of carefully managing detailed information about individual customers and all customer “touch points” to maximize loyalty.
1 Personalizing marketing
2 Customer empowerment
3 Customer value management
4 Customer relationship management

Answer: Customer relationship management

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