What is it called when a company joins with foreign firms to produce or market products and services?
Correct answer D. Joint venturing
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Economics MCQs
Page 68 of Economics multiple-choice questions with answers. Tap an option to check yourself.
Page 68 of 131
- Miscellaneous Economics 737
- Basic of Economics 430
- Markets, Efficiency And The Public Interest 167
- Agriculture & Irrigation System of Pakistan 126
- Market 87
- Macroeconomic Issues and Analysis 75
- Money, Interest Rates And Output 73
- Introduction To Economics 70
- Population And Development 62
- Profit Maximizing Under Perfect Competition And Monopoly 56
- Income Inequality 52
- Non-Tariff Trade Barriers 48
- Aggregate Supply, Unemployment And Inflation 45
- Natural Resources and the Environment Toward Sustainable Development 44
- Costs , Supply And Perfect Competition 44
- Human Capital 42
- Labour Market 39
- Monopoly 35
- Long Term Economic Growth 30
- Inflation & Productivity 30
- Regional Trading Arrangements 29
- Characteristics and Institutions of Developing Countries 24
- Oligopoly 23
- Consumer Theory vs. Real Consumers 20
- Applied Microeconomics 20
- Alternative Theories Of The Firm 20
- Public Goods 20
- Balance of Payments, Aid and Foreign Investment 19
- Prices, Wages & Taxes 19
- Comparative GDP 19
- Budget Deficits And The Trade Balance 18
- Macroeconomic Policy Tools 18
- Asymmetric Information 17
- Application of Economics 16
- Production Factors 16
- Monopoly & Competition 15
- Capital Formation, Investment Choice, Information Technology, And Technical Progress 15
- Monetary, Fiscal And Incomes Policy, And Inflation 15
- Average And Total Cost 14
- Poverty, Malnutrition, And Income Inequality 12
- Monetary Union 10
What is a sales force structure called when salespeople specialise by product line?
Correct answer D. Product sales force
What is the practice of seeking a large share of one smaller market, or of a few submarkets, called?
Correct answer D. Concentrated marketing
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Which stage of new product development involves screening ideas to keep the good ones and drop poor ones as early as possible?
Correct answer A. Idea screening
Which philosophy holds that consumers prefer products that are widely available and highly affordable, so firms should focus on efficient production and distribution?
Correct answer A. Production concept
What should a marketing logistics system aim to deliver?
Correct answer A. A targeted level of customer service at the least cost
On the product/market expansion grid, which growth strategy is a company following when it moves into unrelated fields with new products?
Correct answer D. Diversification
When Honda uses its company name across very different products such as cars, lawn mowers and motorcycles, which strategy is it following?
Correct answer A. Brand extension strategy
Which feature describes a perfectly competitive market?
Correct answer C. Many buyers and sellers
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In which type of sales force structure is each salesperson given an exclusive area to sell the company’s full range of products?
Correct answer C. Territorial sales force
According to the law of demand, what happens when the price of a good rises?
Correct answer B. Decreases the quantity demanded for that good
In 1985 Coca-Cola replaced its original formula with New Coke, then had to bring back Coca-Cola Classic after public protest, leaving New Coke with only 0.1 percent of the market. Which marketing research mistake did the company make?
Correct answer B. They defined their marketing research problem too narrowly
If higher consumer incomes cause demand for camping equipment to fall, what kind of good is camping equipment?
Correct answer A. An inferior good
Which of the following is NOT normally regarded as a source of new product ideas?
Correct answer D. The local library
Which of these would shift the demand curve for watches to the right?
Correct answer C. A decrease in the price of watch batteries if watch batteries and watches are complements
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When did the first modern environmental movement begin in the United States?
Correct answer D. 1960s and 1970s
What happens when the price of a good is set above the equilibrium price?
Correct answer D. There is a surplus and the price will fall
Rules requiring firms to bear the social costs of their products or production processes come from which reason for business legislation?
Correct answer B. To protect the interests of society
What is true when the price of a good equals the equilibrium price?
Correct answer A. The quantity demanded is equal to the quantity supplied and the price remains unchanged
What name is given to the promising multivariable segmentation approach that combines many demographic and socioeconomic factors?
Correct answer D. Geodemographic segmentation