The internet evolved from a network created by ________ during the 1960s?

the Massachusetts institutes of Technology (MIT)

The conclusion that free, unregulated markets will produce an efficient outcome breaks down if ?

households do not have perfect information

firms are not price takers in input markets

firms are not price takers in the output market

If PX > MCX, society gains by ?

Increasing the cost of producing X

rival in consumption and their benefits are non-excludable

non-rival in consumption and their benefits are nonexcludable:

rival in consumption and their benefits are excludable

rival in consumption and their benefits are non-excludable

non-rival in consumption and their benefits excludable

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 ?

more than the efficient level of output

less than the efficient level of output

more than the efficient level of output

so that consumer surplus is zero

168 + Mcqs in Markets in Economics Mcqs Page 4 McqOptions

151.	The use of price points for reference to different levels of quality for a company’s related products is typical of which product mix pricing strategy ?
A.	Optional-product pricing
B.	Captive-product pricing
C.	By-product pricing
D.	Product line pricing
Answer» E.

Discussion

152.	______ includes practices such as overstating the product’s features or performance luring the customer to the store for a bargain that is out of stock, or running rigged contests ?
A.	Deceptive promotion
B.	Deceptive packaging
C.	Deceptive pricing
D.	Deceptive cost structure
Answer» B. Deceptive packaging

Discussion

153.	Sellers that handle their own exports are engaged in ?
A.	direct exporting
B.	indirect exporting
C.	licensing
D.	contract manufacturing
Answer» B. indirect exporting

Discussion

154.	The internet evolved from a network created by ________ during the 1960s?
A.	the Commerce Department
B.	the Massachusetts institutes of Technology (MIT)
C.	Northwestern University
D.	the Defense Department
Answer» E.

Discussion

155.	Coginitive dissonance occurs in which stage of the buyer decision process model ?
A.	Need recognition
B.	Information search
C.	Evaluation of alternative
D.	Postpurchase behaviour
Answer» E.

Discussion

156.	All of the following would be ways to segment within the category of psychographic segmentation EXCEPT ?
A.	social class
B.	occupation
C.	lifestyle
D.	personality
Answer» C. lifestyle

Discussion

157.	A child in the United States is normally exposed to all of the following values EXCEPT ?
A.	achievement ans success
B.	activity and involvement
C.	material comfort
D.	collectivism
Answer» E.

Discussion

158.	The biggest of greatest amount of involvement in a foreign market comes through which of the following ?
A.	Exporting
B.	Joint venturing
C.	Licensing
D.	Direct investment
Answer» E.

Discussion

159.	_________ describes changes in an individual’s behavior arising from experience?
A.	Modeling
B.	Motivation
C.	Perception
D.	Learning
Answer» E.

Discussion

160.	Setting call objectives is done during which of the following stages of the selling process?
A.	Prospecting
B.	Preapproach
C.	Approach
D.	Handling objections
Answer» C. Approach

Discussion

161.	In determining salesforce size, when a company groups accounts into different size classes and then determines the number of salespeople needed to call on them the desired number of times it is called the ?
A.	Key-size approach
B.	work-load appraoch
C.	product-need appraoch
D.	call-service appraoch
Answer» C. product-need appraoch

Discussion

162.	The conclusion that free, unregulated markets will produce an efficient outcome breaks down if ?
A.	households do not have perfect information
B.	firms are not price takers in input markets
C.	firms are not price takers in the output market
D.	all of the above
Answer» E.

Discussion

163.	If PX > MCX, society gains by ?
A.	raising the price of X.
B.	production less X
C.	Producing more X
D.	Increasing the cost of producing X
Answer» D. Increasing the cost of producing X

Discussion

164.	Private goods are ?
A.	non-rival in consumption and their benefits are nonexcludable:
B.	rival in consumption and their benefits are excludable
C.	rival in consumption and their benefits are non-excludable
D.	non-rival in consumption and their benefits excludable
Answer» C. rival in consumption and their benefits are non-excludable

Discussion

165.	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 ?
A.	less than the efficient level of output
B.	more than the efficient level of output
C.	so that consumer surplus is zero
D.	the efficient level of output
Answer» B. more than the efficient level of output

Discussion

166.	The total cost to society of producing an additional unit of a good or service is the ?
A.	marginal damage cost
B.	marginal social cost
C.	marginal private cost
D.	marginal external cost
Answer» C. marginal private cost

Discussion

167.	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 ?
A.	industry equilibrium analysis
B.	specific equilibrium analysis
C.	partial equilibrium analysis
D.	general equilibrium analysis
Answer» D. general equilibrium analysis

Discussion

168.	Which of the following information forms available to the marketing manager can usually be accessed more quickly and cheaply than other information sources ?
A.	Marketing intelligence
B.	Marketing research
C.	Customer profiles
D.	Internal databases
Answer» E.

Discussion

Explore topic-wise MCQs in Economics Mcqs.

The use of price points for reference to different levels of quality for a company’s related products is typical of which product mix pricing strategy ?

______ includes practices such as overstating the product’s features or performance luring the customer to the store for a bargain that is out of stock, or running rigged contests ?

Sellers that handle their own exports are engaged in ?

The internet evolved from a network created by ________ during the 1960s?

Coginitive dissonance occurs in which stage of the buyer decision process model ?

All of the following would be ways to segment within the category of psychographic segmentation EXCEPT ?

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

The biggest of greatest amount of involvement in a foreign market comes through which of the following ?

_________ describes changes in an individual’s behavior arising from experience?

Setting call objectives is done during which of the following stages of the selling process?

In determining salesforce size, when a company groups accounts into different size classes and then determines the number of salespeople needed to call on them the desired number of times it is called the ?

The conclusion that free, unregulated markets will produce an efficient outcome breaks down if ?

If PX > MCX, society gains by ?

Private goods are ?

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 ?

The total cost to society of producing an additional unit of a good or service is the ?

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 ?

Which of the following information forms available to the marketing manager can usually be accessed more quickly and cheaply than other information sources ?