economics Mcqs
1. the national economy2. profit maximizing under perfect competition and monopoly3. application of economics4. the aggregate demand aggregate supply model5. surplus6. money interest rates and output7. average and total cost8. stabilization adjustment reform and privatization9. risks and diversification efficient market hypothesis10. the phillips curve11. supply and demand12. capital formation investment choice information technology and technical progress13. aggregate supply unemployment and inflation14. elasticity15. comparative gdp16. roots of modern macroeconomics17. production factors18. poverty malnutrition and income inequality19. trade regulations and industrial policies20. monetary union21. exchange rate systems and currency crises22. economic development in historical perspective23. exchange rate determination24. monopoly competition25. the balance of payments26. inflation productivity27. macroeconomic issues and analysis28. employment migration and urbanization29. macroeconomic policy tools30. supply side policies31. exchange rate adjustments and the balance of32. miscellaneous33. taxation34. trade policies for the developing nations35. markets efficiency and the public interest36. the external debt and financial crises37. budget deficits and the trade balance38. alternative theories of the firm39. public goods40. the meaning and measurement of economic development41. characteristics and institutions of developing countries42. agriculture irrigation system of pakistan43. education health and human capital44. economic problems of developing countries45. theories of economic development46. basic of economics47. consumer theory vs real consumers48. applied microeconomics49. long term economic growth50. externality internality51. fiscal and monetary policy52. prices wages taxes53. balance of payments aid and foreign investment54. international factor movements and multinational corporations55. entrepreneurship organization and innovation56. the international economy and globalization57. population and development58. non tariff trade barriers59. foundations of modern trade theory60. global economic development61. market62. rural poverty and agricultural transformation63. regional trading arrangements64. foreign exchange65. introduction to economics66. world economy miscellaneous67. sources of comparative advantage68. natural resources and the environment toward sustainable development69. monopoly70. asymmetric information71. income inequality72. labour market73. tariffs74. development planning and policy making the state and the market75. oligopoly76. industrial development77. costs supply and perfect competition78. human capital79. monetary fiscal and incomes policy and inflation80. stocks
6951. The primary reason that many companies work to become the low cost producers in their industry is because ?
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A. they can generate more advertising

B. they can set lower prices that that result in greater sales and profits

C. they can please top management

D. they can gain tax advantages

6952. The last stage in the selling process in the __________ stage?
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A. Approach

B. closing

C. handling objections

D. follow-up
6953. The typical method of retail operation used by supermarkets and catalog showrooms is called ?
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A. full-service retailing

B. service merchandiser

C. limited-service retailing

D. self-service retailing
6954. The purpose of strategic planning is to find ways in which the company can best ?
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A. avoid the expense of costly research and development while still getting the benefits

B. avoid paying taxes

C. overcome losses

D. use its strengths to take advantage of attractive opportunities in the environment
6955. The Wheeler-Lea Act gives the Federal Trade Commission the power to regulate ?
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A. marketing ethics

B. competitive advertising of objective product benefits

C. interstate commerce

D. unfair and deceptive acts or practices
6956. _______ is the step in the selling process in which the salesperson learns as much as possible about a prospective customer before making a sales call?
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A. Handling objections

B. Prospecting

C. Preapproach

D. Approach

6957. When producers, wholesalers, and retailers act as a unified system they comprise a ?
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A. horizontal marketing system

B. power-based marketing system

C. vertical marketing system

D. conventional marketing system

6958. Yahoo, Infoseek, and Baido are all called ?
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A. software

B. search engines

C. browsers

D. Webcasters

6959. The whole class of goods that will be under produced or not produced at all in a completely unregulated market economy are referred to as ?
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A. private goods

B. free goods

C. public goods

D. Pareto goods

6960. According to the price/quality strategy matrix when a company overprices its product in relation to its quality it is considered to be using which type of strategy ?
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A. Snob strategy

B. Overcharging strategy

C. Premium strategy

D. Good-value strategy

6961. When you consume good Q, not only do you benefit form consuming the good but other people benefit from your consumption as well, if firms produce good Q where P = MC, firms will be producing ?
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A. less than the efficient level of output

B. so that consumer surplus is zero

C. the efficient level of output

D. more than the efficient level of output

6962. Technological advances, shifts in consumer tastes, and increased competition all of which reduce demand for a product are typical of which stage in the PLC ?
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A. growth stage

B. decline stage

C. introduction stage

D. maturity stage

6963. Which of the following promotional budget methods wrongly views sales as the cause of promotion rather than as the result ?
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A. Affordable method

B. Percentage of Sales method

C. Competitive parity method

D. Objective and task method

6964. ________ is setting the price steps between various products in a product the based on cost difference between the products, customer evaluations of different features, and competitors prices ?
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A. Optional-product pricing

B. Product line pricing

C. By-product pricing

D. Captive-product pricing

6965. All of the following are commonly recognized promotion budget formal EXCEPT ?
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A. the LIFO method

B. the affordable method

C. the objective and task method

D. the percentage of sales method

6966. The Choice between high markups and high volume is part of which of the following retailer marketing decisions ?
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A. Promotion decisions

B. Pricing decisions

C. Target market decisions

D. Produced assortment and services decisions

6967. _______ is the concept under which a company carefully integrates and coordinates its may communications channels to deliver a clear consistent and compelling message about the organization and its products?
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A. Integrated international affairs

B. Integrated marketing communications

C. The promotion mix

D. Integrated demand characteristics

6968. The fact that services cannot be stored for later use or sale is evidence of their ?
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A. inseparability

B. variability

C. intangibility

D. perishability
6969. If a government uses barriers to foreign products such as biases against a foreign companys bids or product standards that go against a foreign companys product features the government is using ?
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A. nontariff trade barriers

B. exchange facilitators

C. Protectionism

D. exchange controls

6970. When an international seller sells a plant equipment or technology to another country and agrees to take payment in the resulting products, it is called?
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A. barter

B. buy-back

C. like-value-exchange

D. counterpurchase

6971. All of the following are ways that marketing plays a key role in the companys strategic planning EXCETP ?
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A. marketing provides inputs to strategic planners by helping to identify attractive market opportunities

B. marketing is the only discipline that can provide a formal structure for the planning effort

C. marketing provides a guiding philosophy

D. within individual business units marketing designs strategies for reaching the units objectives

6972. A(n) _____ are computerized collections of information obtained from data sources within the company ?
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A. marketing research reports

B. retrieval systems

C. internal databases

D. flow diagrams and PERT charts

6973. The practice of going after a large share of a smaller market or subsets of a few markets is called ?
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A. turbo marketing

B. undifferentiated marketing

C. concentrated marketing

D. differentiated marketing

6974. If a company (considering its options on the product/market expansion grid) chooses to move into different unrelated fields (from what it ha ever done before) with new products as a means to stimulate growth the company would be following which of the following general strategies ?
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A. product development

B. diversification

C. market development

D. market penetrations

6975. All of the following are thought to be sources of new product ideas EXCEPT ?
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A. competitors

B. the local library

C. customers

D. internal sources

6976. The major advantage of survey research is its ?
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A. simplicity

B. organization

C. structure

D. flexibility
6977. The stage is the product life cycle that focuses on expanding market and creating product awareness and trails is the ?
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A. introduction stage

B. decline stage

C. growth stage

D. maturity stage

6978. Setting the promotion budget so as to match the budgets of the competition is characteristic of which of the following budget methods ?
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A. Affordable method

B. Competitive parity method

C. Percentage of Sales method

D. Objective and task method

6979. A child in the United States is normally exposed to all of the following values EXCEPT ?
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A. material comfort

B. achievement ans success

C. collectivism

D. activity and involvement

6980. Marketers are sometimes accused of deceptive practices that lead consumers to believe they will get more value than they actually do. _____ includes practices such as falsely advertising factory of wholesale prices or a large price reduction from a phony high retail price ?
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A. Deceptive pricing

B. Deceptive packaging

C. Deceptive cost structure

D. Deceptive promotion

6981. Setting call objectives is done during which of the following stages of the selling process?
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A. Preapproach

B. Prospecting

C. Approach

D. Handling objections

6982. _________ describes changes in an individuals behavior arising from experience?
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A. Learning

B. Motivation

C. Modeling

D. Perception

6983. All of the following are criticisms leveled against marketing by critics EXCEPT ?
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A. harming consumers through high-pressure selling

B. harming consumers through high prices

C. harming consumers through deceptive practices

D. harming consumers through too many product choices
6984. The most logical budget setting method is found in the list below. Which is it ?
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A. Percentage of sales method

B. Competitive parity method

C. Objective and task method

D. Affordable method

6985. A _________ is a need that is sufficiently pressing to direct the person to seek satisfaction?
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A. requirement

B. demand

C. want

D. motive
6986. All of the following are methods by which a company can divide up its sales responsibilities EXCEPT ?
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A. territorial sales force structure

B. pychographic trait sales force structure

C. product sales force structure

D. customer sales force structure

6987. A(n) ________ is a name term sign symbol or design, or a combination of these that identifies that maker or seller of a product or service ?
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A. brand

B. logo

C. Product feature

D. sponsorship

6988. In a example discussed in your text Johnson & Johnsons recall of their Tylenol product following the discovery that several bottles of Tyloenol had been laced with cyanide is consistent with which business philosophy ?
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A. The societal marketing concept

B. The marketing concept

C. The selling concept

D. The product concept

6989. ________ is screening new product ideas in order to spot good ideas and drop poor ones as soon as possible?
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A. Idea generation

B. Idea screening

C. Brainstorming

D. Concept development and testing

6990. Joining with foreign companies to produce or market products and services is called ?
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A. joint venturing

B. direct exporting

C. indirect exporting

D. licensing

6991. The government increase the minimum wage. The National Association of Fast Food Restaurants hires you to determine the impact that this higher minimum wage will have on it industry. This is an example of ?
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A. partial equilibrium analysis

B. general equilibrium analysis

C. specific equilibrium analysis

D. industry equilibrium analysis

6992. Successful service companies focus their attention on both their customers and their employees they understand ________ which links service firm profits with employee and customer satisfaction ?
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A. service-profit chains

B. interactive marketing

C. service differentiation

D. internal marketing

6993. If an advertiser wants flexibility timeliness good local market coverage broad acceptability, and high believability the advertiser will probably choose which of the following mass media types ?
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A. Direct Mail

B. Television

C. Newspapers

D. Radio

6994. __________ has the advantage of being high in selectivity low cost; immediacy; and interactive capabilities?
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A. Outdoor

B. Online

C. Radio

D. Direct Mail

6995. Anything that can be offered to a market for attention acquisition, use, or consumption that might satisfy a want or need is called a(n) ?
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A. demand

B. product

C. idea

D. service

6996. Which of the following is foreign owned (even through it is traditionally thought of as a U.S company) ?
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A. Xerox

B. IBM

C. Universal Studios

D. Kodak

6997. Drop shippers perform which of the following functions ?
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A. Sells jewelry out of a catalog

B. Stocks the bread rack in a grocery store

C. Assumes title and ships coal, lumber or heavy equipment to a buyer

D. Maintains, owns and stocks a CD display in a grocery store

6998. A company is practicing ________ if it focuses on subbasements with distinctive traits that may seek a special combination of benefits ?
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A. micro marketing

B. niche marketing

C. segment marketing

D. mass marketing

6999. _______ beliefs values are open to some degree of change ?
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A. Crucial

B. Secondary

C. Core

D. Primary

7000. The ______ holds that consumers will favor products that are available and highly affordable (therefore, work on improving production and distribution efficiency) ?
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A. product concept

B. marketing concept

C. production cost expansion concept

D. production concept