1. The Marshallian utility analysis is based on a less valid assumption of
(a) cardial measurement of utility
(b) constant marginal utility of money
(c) diminishing marginal utility of goods
(d) additivity of the utility
Answer b
Marshall's assumption of constant marginal utility of money is impractical. Sundaramponnusamy gives clarification on this click here to read
2. An appropriate pricing strategy for a new product to be introduced in the market will be
(a) Average/Marginal cost-plus pricing
(b) Skimming/Penetrating pricing
(c) Product line pricing
(d) Differential pricing
Answer b
Skimming pricing is setting high price for new products to gain maximum revenue by low sales volume and penetrating pricing is setting low price for new product to attract maximum customers and to gain revenue by high sales volume. click here to know more
3. Economic capacity of a plant represents the firm's capability for
(a) Maximum physical output
(b) Maximum marginal output
(c) Break even level of output and sale
(d) Output that equates average and marginal costs
Answer d
4. Multi stage approach to product pricing in a firm involves considerations for setting the price as follows:
i. Selection of firm's objective
ii. Composition of marketing mix
iii. Selection of target market
iv. Selection of pricing policy and strategy
Indicate incorrect sequence:
Codes:
(a) iv , ii, i, iii
(b) iii, i, ii, iv
(c) ii, iv, iii, i
(d) i, iii, ii, iv
Answer b
5. Which one of the following practices is not sought to be regulated under the Consumer Protection Act, 1986?
(a) Sales of defective goods
(b) Supply of services having some deficiency
(c) Misleading advertiesments
(d) Goods supplied free of charge
Answer d
6. The leadership prototype
(a) is useful primarily for selection and training of employees
(b) uses LPC (Least preferred Co-worker) as an important component
(c) depicts the image of a model leader
(d) emphasises leadership development
Answer c
7. Which is not a perceptual process stage?
(a) Attention/selection
(b) Interpretation
(c) Follow-through
(d) Retrieval
Answer a
8. Which statement is correct?
(a) Goals act as the set of constraints that an organisation must satisfy
(b) Deterministic goals specify the end or direction towards which the organisation applies its efforts, and they can be fairly determined
(c) Goals may be categorised as deterministic and constraint goals
(d) All of the above
Answer d
9. According to Fiedler's Contingency Model of Leadership, which one of the following is not a situational variable?
(a) Leader-Member relations
(b) Task structure
(c) Position power
(d) Maturity of followers
Answer d
10. Which is not a centralised communication network system?
(a) Wheel Network
(b) Y - shaped Network
(c) Circle Network
(d) Chain Network
Answer c
11. Why is 'procedural justice' important in the context of the management of mis conduct?
(a) It reflects on the integrity of HR professionals
(b) It ensures that individuals have a sense that they have been treated fairly.
(c) It reflect on the values and attitudes of top management.
(d) It protects the interest of daily wage earners.
Answers b
12. To be effective a points based rating system requires
(a) Close management control
(b) Comprehensive, reliable and consistent information
(c) Objectivity in assessments
(d) 360 degree assessment
Answer b
13. Too much of reliance on internal recruitment can result in
(a) Reduced job performance
(b) High labour turnover
(c) Internal conflict
(d) Poor group dynamics
