Economics MCQs

Page No. 255

Which of the following shifts the demand for watches to the right ?


aan increase in the price of watches


bnone of these answers


c a decrease in the price of watch batteries if watch batteries and watches are complements


da decrease in the wage of workers employed to manufacture watches


View Answer none of these answers

If an increase in consumer incomes leads to a decrease in the demand for camping equipment, then camping equipment is ?


aa normal good


bnone of these answers


can inferior good


da substitute good


View Answer an inferior good

The law of demand states that an increases in the price of a good ?


aNone of these answers


bdecreases the quantity supplied of that good


cdecreases the quantity demanded for that good


d increases the quantity supplied of that good



A perfectly competitive market has ?


a firms that set their own prices


b only one seller.


cat least a few sellers.


dmany buyers and sellers.



The study of human population in terms of size, density, location age gender, race occupation and other statistics is called ?


aGeothermy


b Demography


cEthnography


dHemos-popography


View Answer Demography

One of the most promising developments in multivariable segmentation is called ____ where a host of demographic and socioeconomic factors are used ?


aterragraphic segmentation


bfermagraphic segmentation


cgeothermy segmentation


dgeodemographic segmentation



Regulations that arise to ensure that firms take responsibility for the social costs of their products or production processes stem from which reason for government legislation of business ?


aTo protect companies form each other


b To protect consumers from unfair business practices


cTo protect the interests of society


dTo protect businesses from unfair consumer demands



The first modern environmental movement in the United States began in the ?


a 1940s


b1950s


c1960s and 1970s


d mid-1980s


View Answer 1960s and 1970s

All of the following are thought to be sources of new product ideas EXCEPT ?


ainternal sources


bcustomers


ccompetitors


dthe local library


View Answer the local library

In 1985, the Coca-cola Company made a classic marketing blunder with its deletion of its popular Coca-Cola product and introduction of what it called New Coke Analysts now believe that most of the company’s problems resulted from poor marketing research. As the public demanded their old Coke back the company relented and reintroduced Coca-Cola Classic (which has regained and surpassed its former position) while New Coke owns only 0.1 percent of the market Which of the following marketing research mistakes did Coca-Cola make ?


a They did not investigate pricing correctly and priced the product too high


bThey did not investigate dealer reaction and had inadequate distribution


c They defined their marketing research problem too narrowly


dThey failed to account for the Pepsi Challenge taste test in their marketing efforts



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