Question Bank 5
26. In the case of consumer’s demand curve, determined the price but in the case of producer
1. AR curve determined the price
2. AR curve determined the price and income
3. MR curve determined the price
4. MR curve and AR curve are determined the price
(a) 1 only
(c) 3 only
(b) 2 only
(d) 4 only
Ans:- (a)
27. Which of the following is the correct statement
1. The slope of the Isoquants represents the MRTS.
2. The MRTS of the input x and y =MPx / MPy
3. The elasticity of substitution between two inputs x and y is proportionate change in the ratio two inputs divided by proportionate change in the MRTS
4. If degree of homogeneity is greater than one, the production function is increasing returns to fixed factor
(a) 1, 2, 3 and 4 (b) 1, 3 and 4
(c) 2, 3 and 4 (d) 1, 2 and 3
Ans:- (d)
28. Price discrimination is possible:
(a) When elasticities of demand in different markets are the same at the ruling price
(b) When elasticities of demand are different in different markets at the ruling price
(c) When elasticities cannot be known .
(d) None of the above
Ans:- (a)
29. The imposition of a ceiling on a monopolist’s price will effect his
(a) Profits only
(b) Average revenue in the short-run only
(c) Equilibrium output only
(d) Equilibrium output and profits
Ans:- (d)
30. A firm enjoys maximum control over the price of its product under:
(a) Monopoly
(b) Perfect competition
(c) Oligopoly
(d) Imperfect competition
Ans:- (a)
31. What does ‘Hierarchy of Authority’ means?
1. The lower levels have to pursue the goals laid down by higher levels.
2. The upper levels of hierarchy set the goals to be pursued.
3. The upper level can not take disciplinary action against subordinates.
4 The lower levels have freedom to carry out the operations.
(a) 1 and 2
(b) 2 and 3
(c) 3 and 4
(d) l and 4
Ans:- (a)
32. Consider the following statements
1. The terms ‘Administration’ and ‘Management’ are synonymous.
2. Administration is a wider term than Management.
3. Management is a wider term than Administration.
4. Management is a narrower term than Administration.
5. Administration encompasses activities like the sel1ing out of policies and objectivities, designing the organisational structure etc.
6. Management is concerned with those operations leading an organisation. towards success with is the broader framework set up by Administration.
Select the correct codes:
(a) 1, 2,. 5 and 6
(b) 2, 4, 5 and 6
(c) 3, 4, 5 and 6
(d) 2, 3, 4, 5 and 6
Ans:-(b)
33. Which pattern reflects a pure executive form of management?
(a) Functional
(b) Line
(c) Line and Staff
(d) Committee
Ans:- (a)
34. ‘Coordination’ in an organisation means:
1. Complete control of the activities of the employees.
2. .To secure harmony among different units of the organisation.
3. Removal of conflict and overlapping in the organisation.
Codes:
(a) 1 and 2
(b) 1 and 3
(c) 2 and 3
(d) l, 2 and 3
Ans:- (c)
35. Assertion (A): The theory and hypotheses of Argyris suggest no relationship between personal development of the individual and the organisational situation.
Reason (R): The principles and the characteristics of a formal organisation. in the opinion of Argyris, are incongruent to the needs of adult human beings.
Codes:
(a) A and R are true and. R is the correct explanation of A.
(b) A and R are true but R does not explain A.
(c) A is true but R is false.
(d) A is false but R is true.
Ans:- (d)
36. Which one of the following is NOT the main concern of ‘Scientific Management’?-
(a) Production
(b) Efficiency
(c) Mechanistic Methods
(d) Rationality
Ans:- (c)
37. Which one of the following concepts are not associated with Scientific Management?
I. Mental Revolution
II. Unity of Command
III. Rule of Thumb
IV. Time and Motion Study
V. Differential Piece rate plan
Select the correct code:
(a) I, II and IV (b) II, III and IV
(c) II and III. (d) I, IV and V
Ans:- (c)
38. Which of the following are the principles of ‘Scientific Management’?
1. Development of a science of work
2. Different Piece Rate Plan
3. Standardisation of tools and equipments
4. Scientific selection of workman
5. Co-operation between managers and workers
Select the correct code:
(a) 1, 3, 4 and 5
(b)1, 4 and 5.
(c) 1, 2, 3, and 4
(d) l, 2, 3, 4 and 5.
Ans:- (b)
39. The Greatman theory of leadership led to the rise of
(a) The Behavioural theory of leadership
(b) The Trait theory of leadership
(c) The situational theory of leadership
(d) None of the above
Ans:- (b)
40. The central principle which derives from McGregor’s Theory is:
(a) Directional and control
(b) Co-ordination
(c) Scalar Principle
(d) Integration
Ans:- (d)
41. Assertion (A): Effective motivation is moderated by organisational complexity and conflicts.
Reason (R): An individual’s motives may he complex and conflicting.
codes:
(a) Both A and R are true, and R is the correct explanation of A.
(b) Both A and R are true, but R is nor a correct explanation of A.
(c) A is true but R is false.
(d) A is false but R is true.
Ans:- (d)
42. The famous book “The Philosophy of Management” was written by
(a) Henery Fayol
(b) Oliver Sheldon
(c) F. W. Taylor
(d) Urwick
Ans:-(b)
43. The first stock exchange was set up in India in
(a) Calcutta
(b) Bombay
(c) Delhi
(d) Madras
Ans:-(b)
44. Which of the speculators expects the price of securities to rise in the near future?
(a) Bull
(b) Bear
(c) Stag
(d) Lane duck
Ans:- (a)
45. Stock exchange deals with the
(a) Second-hand securities
(b) Issue of equity shares,
(c) Issue of preference shares
(d) Issue of debentures.
Ans:- (a)
46. Burns and Stalker model for categorising organisations by structural design uses the
terms: (a) Functional and geographic
(b) Functional and organic
(c) Geographic and mechanistic
(d) Mechanistic and organic.
Ans:- (b)
47. The quality of information is measured by its:
(a) Accuracy
(b) Cost
(c) Degree of Statistical Validity
(d) Timeliness
Ans:- (d)
48. Which of the following departments is not directly affected by the facilities location decision?
(a) Production/Operations
(b) Marketing
(c) Personnel and HRD
(d) None of the above.
Ans:- (d)
49. Of the three costs relevant to a decision on inventory, which is the most difficult to estimate?
(a) Shortage costs
(b) Carrying Costs
(c) Order costs
(d) Transportation costs
Ans:- (a)
50. Increasing returns imply:
(a) Constant average cost
(b) Diminishing cost per unit of output
(c) Optimum use of capital and factor
(d) External economies
Ans:-(b
1. AR curve determined the price
2. AR curve determined the price and income
3. MR curve determined the price
4. MR curve and AR curve are determined the price
(a) 1 only
(c) 3 only
(b) 2 only
(d) 4 only
Ans:- (a)
27. Which of the following is the correct statement
1. The slope of the Isoquants represents the MRTS.
2. The MRTS of the input x and y =MPx / MPy
3. The elasticity of substitution between two inputs x and y is proportionate change in the ratio two inputs divided by proportionate change in the MRTS
4. If degree of homogeneity is greater than one, the production function is increasing returns to fixed factor
(a) 1, 2, 3 and 4 (b) 1, 3 and 4
(c) 2, 3 and 4 (d) 1, 2 and 3
Ans:- (d)
28. Price discrimination is possible:
(a) When elasticities of demand in different markets are the same at the ruling price
(b) When elasticities of demand are different in different markets at the ruling price
(c) When elasticities cannot be known .
(d) None of the above
Ans:- (a)
29. The imposition of a ceiling on a monopolist’s price will effect his
(a) Profits only
(b) Average revenue in the short-run only
(c) Equilibrium output only
(d) Equilibrium output and profits
Ans:- (d)
30. A firm enjoys maximum control over the price of its product under:
(a) Monopoly
(b) Perfect competition
(c) Oligopoly
(d) Imperfect competition
Ans:- (a)
31. What does ‘Hierarchy of Authority’ means?
1. The lower levels have to pursue the goals laid down by higher levels.
2. The upper levels of hierarchy set the goals to be pursued.
3. The upper level can not take disciplinary action against subordinates.
4 The lower levels have freedom to carry out the operations.
(a) 1 and 2
(b) 2 and 3
(c) 3 and 4
(d) l and 4
Ans:- (a)
32. Consider the following statements
1. The terms ‘Administration’ and ‘Management’ are synonymous.
2. Administration is a wider term than Management.
3. Management is a wider term than Administration.
4. Management is a narrower term than Administration.
5. Administration encompasses activities like the sel1ing out of policies and objectivities, designing the organisational structure etc.
6. Management is concerned with those operations leading an organisation. towards success with is the broader framework set up by Administration.
Select the correct codes:
(a) 1, 2,. 5 and 6
(b) 2, 4, 5 and 6
(c) 3, 4, 5 and 6
(d) 2, 3, 4, 5 and 6
Ans:-(b)
33. Which pattern reflects a pure executive form of management?
(a) Functional
(b) Line
(c) Line and Staff
(d) Committee
Ans:- (a)
34. ‘Coordination’ in an organisation means:
1. Complete control of the activities of the employees.
2. .To secure harmony among different units of the organisation.
3. Removal of conflict and overlapping in the organisation.
Codes:
(a) 1 and 2
(b) 1 and 3
(c) 2 and 3
(d) l, 2 and 3
Ans:- (c)
35. Assertion (A): The theory and hypotheses of Argyris suggest no relationship between personal development of the individual and the organisational situation.
Reason (R): The principles and the characteristics of a formal organisation. in the opinion of Argyris, are incongruent to the needs of adult human beings.
Codes:
(a) A and R are true and. R is the correct explanation of A.
(b) A and R are true but R does not explain A.
(c) A is true but R is false.
(d) A is false but R is true.
Ans:- (d)
36. Which one of the following is NOT the main concern of ‘Scientific Management’?-
(a) Production
(b) Efficiency
(c) Mechanistic Methods
(d) Rationality
Ans:- (c)
37. Which one of the following concepts are not associated with Scientific Management?
I. Mental Revolution
II. Unity of Command
III. Rule of Thumb
IV. Time and Motion Study
V. Differential Piece rate plan
Select the correct code:
(a) I, II and IV (b) II, III and IV
(c) II and III. (d) I, IV and V
Ans:- (c)
38. Which of the following are the principles of ‘Scientific Management’?
1. Development of a science of work
2. Different Piece Rate Plan
3. Standardisation of tools and equipments
4. Scientific selection of workman
5. Co-operation between managers and workers
Select the correct code:
(a) 1, 3, 4 and 5
(b)1, 4 and 5.
(c) 1, 2, 3, and 4
(d) l, 2, 3, 4 and 5.
Ans:- (b)
39. The Greatman theory of leadership led to the rise of
(a) The Behavioural theory of leadership
(b) The Trait theory of leadership
(c) The situational theory of leadership
(d) None of the above
Ans:- (b)
40. The central principle which derives from McGregor’s Theory is:
(a) Directional and control
(b) Co-ordination
(c) Scalar Principle
(d) Integration
Ans:- (d)
41. Assertion (A): Effective motivation is moderated by organisational complexity and conflicts.
Reason (R): An individual’s motives may he complex and conflicting.
codes:
(a) Both A and R are true, and R is the correct explanation of A.
(b) Both A and R are true, but R is nor a correct explanation of A.
(c) A is true but R is false.
(d) A is false but R is true.
Ans:- (d)
42. The famous book “The Philosophy of Management” was written by
(a) Henery Fayol
(b) Oliver Sheldon
(c) F. W. Taylor
(d) Urwick
Ans:-(b)
43. The first stock exchange was set up in India in
(a) Calcutta
(b) Bombay
(c) Delhi
(d) Madras
Ans:-(b)
44. Which of the speculators expects the price of securities to rise in the near future?
(a) Bull
(b) Bear
(c) Stag
(d) Lane duck
Ans:- (a)
45. Stock exchange deals with the
(a) Second-hand securities
(b) Issue of equity shares,
(c) Issue of preference shares
(d) Issue of debentures.
Ans:- (a)
46. Burns and Stalker model for categorising organisations by structural design uses the
terms: (a) Functional and geographic
(b) Functional and organic
(c) Geographic and mechanistic
(d) Mechanistic and organic.
Ans:- (b)
47. The quality of information is measured by its:
(a) Accuracy
(b) Cost
(c) Degree of Statistical Validity
(d) Timeliness
Ans:- (d)
48. Which of the following departments is not directly affected by the facilities location decision?
(a) Production/Operations
(b) Marketing
(c) Personnel and HRD
(d) None of the above.
Ans:- (d)
49. Of the three costs relevant to a decision on inventory, which is the most difficult to estimate?
(a) Shortage costs
(b) Carrying Costs
(c) Order costs
(d) Transportation costs
Ans:- (a)
50. Increasing returns imply:
(a) Constant average cost
(b) Diminishing cost per unit of output
(c) Optimum use of capital and factor
(d) External economies
Ans:-(b
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