21. Due to price decrease in one commodity slopes of PL will
(A) increase
(B) decrease
(C) constant
(D) zero
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22. Substitution effect is always
(A) Negative
(B) Positive
(C) Constant
(D) Zero
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23. Elasticity of Demand is
(A) Qualitative statement
(B) Directional statement
(C) Quantitative statement
(D) Indirect statement
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24. Consumer drives maximum satisfaction, when the MU will be
(A) zero
(B) one
(C) constant
(D) None of these
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25. Car and Petrol, Pen and Ink are
(A) Substitute Goods
(B) Complementary goods
(C) Wastage Goods
(D) Scarce goods
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26. Which one is not an exception to the law of demand ?
(A) Articles of distinction
(B) Ignorance
(C) Inferior goods
(D) Normal goods
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27. Giffin paradox is a case of to the law of demand:
(A) value
(B) perception
(C) exception
(D) All of these
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28. Logical weak ordering theory was given by
(A) J.R. Hicks
(B) Adam Smith
(C) Samuelson
(D) None of these
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29. Due to increase in prices, the demand also rises. This is know
(A) Marshall Paradox
(B) Giffin Paradox
(C) Veblon Paradox
(D) None of these
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30. Business economics is ______ in nature.
(A) Micro
(B) Macro
(C) Both (A) and (B)
(D) None of these
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31. Total utility is a function of
(A) Price of commodity
(B) MU
(C) Quantity of commodity
(D) All of these
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32. Economic development with unlimited labour supply was given
(A) J. Schumpeter
(B) W.W. Rostow
(C) R. Nurkse
(D) W.A. Leurs
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33. Eighth Five Year Plan period ended in
(A) 1995
(B) 1996
(C) 1998
(D) 1997
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34. Performance appraisal is useful for determining the employees
(A) Retention
(B) Promotion
(C) Training
(D) All of these
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35. Job enrichment is not
(A) providing the opportunity for increased recognition
(B) providing the opportunities for growth
(C) assigning more work
(D) providing the opportunity for advancement
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36. When the workers are given the opportunity to influence the managerial decision at the higher level is called ______ workers participation.
(A) descending
(B) ascending
(C) horizontal
(D) None of these
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37. Which method of management training is not a part of “off the job method” ?
(A) Simulation
(B) Project assignment
(C) Role playing
(D) Case study
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38. Non-monetary benefits given to employees include
(A) Bonus
(B) Job enrichment
(C) Pension
(D) Stock options
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39. ‘POSDCORB’ was coined by
(A) F.W. Taylor
(B) Prahlad
(C) Maslow
(D) Gullick
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40. The word “Positioning” was coined by
(A) Kotler
(B) Peter Drucker
(C) Al Reis and Jack Trout
(D) Rosser Reeves
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