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Economics Mcqs 4423 MCQs [All-Courses]

Economics MCQs cover fundamental concepts of microeconomics and macroeconomics, including demand and supply, inflation, national income, and economic policies.
This section is designed to strengthen analytical skills and conceptual understanding for competitive examinations.
Highly useful for PPSC, FPSC, NTS, OTS, KPPSC, and other testing services preparation.

The primary reason that many companies work to become the low cost producers in their industry is because ?

A they can generate more advertising

B they can please top management

C they can gain tax advantages

D they can set lower prices that that result in greater sales and profits

Review Detailed Answer

Correct Answer: they can set lower prices that that result in greater sales and profits

All of the following are criticisms leveled against marketing by critics EXCEPT ?

A harming consumers through high prices

B harming consumers through deceptive practices

C harming consumers through high-pressure selling

D harming consumers through too many product choices

Review Detailed Answer

Correct Answer: harming consumers through too many product choices

A price reduction to buyers who buy in large volumes is called a(n) ?

A quantity discount

B cash discount

C seasonal discount

D trade discount

Review Detailed Answer

Correct Answer: quantity discount

A company’s compensation plan should reflect its overall marketing strategy For example if the overall strategy is to grow rapidly and gain market share the compensation plan should reward ?

A loyalty and perseverance

B spot selling and old product rejuvenation

C high sales performance and encourage capturing new accounts

D high pressure situations and competitive reaction

Review Detailed Answer

Correct Answer: high sales performance and encourage capturing new accounts

In a example discussed in your text Johnson & Johnson’s recall of their Tylenol product following the discovery that several bottles of Tyloenol had been laced with cyanide is consistent with which business philosophy ?

A The marketing concept

B The product concept

C The selling concept

D The societal marketing concept

Review Detailed Answer

Correct Answer: The societal marketing concept

All of the following are ways that marketing plays a key role in the company’s strategic planning EXCETP ?

A marketing provides a guiding philosophy

B marketing is the only discipline that can provide a formal structure for the planning effort

C marketing provides inputs to strategic planners by helping to identify attractive market opportunities

D within individual business units marketing designs strategies for reaching the unit’s objectives

Review Detailed Answer

Correct Answer: marketing is the only discipline that can provide a formal structure for the planning effort

According to the text the most dramatic of the environments that affect marketing and appears to be now shaping our world is the ___________ environment?

A natural

B demographic

C economic

D technological

Review Detailed Answer

Correct Answer: technological

A _________ is a need that is sufficiently pressing to direct the person to seek satisfaction?

A motive

B want

C demand

D requirement

Review Detailed Answer

Correct Answer: motive

The purpose of strategic planning is to find ways in which the company can best ?

A overcome losses

B use its strengths to take advantage of attractive opportunities in the environment

C avoid paying taxes

D avoid the expense of costly research and development while still getting the benefits

Review Detailed Answer

Correct Answer: use its strengths to take advantage of attractive opportunities in the environment

Even through buying roles in the family change constantly the _________ has traditionally been the main purchasing agent for the family?

A wife

B husband

C teenage children

D grandparent

Review Detailed Answer

Correct Answer: wife

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Economics Mcqs 4423 MCQs [All-Courses]

All Topics 4423

All Topics 4423

The primary reason that many companies work to become the low cost producers in their industry is because ?

All of the following are criticisms leveled against marketing by critics EXCEPT ?

A price reduction to buyers who buy in large volumes is called a(n) ?

A company’s compensation plan should reflect its overall marketing strategy For example if the overall strategy is to grow rapidly and gain market share the compensation plan should reward ?

In a example discussed in your text Johnson & Johnson’s recall of their Tylenol product following the discovery that several bottles of Tyloenol had been laced with cyanide is consistent with which business philosophy ?

All of the following are ways that marketing plays a key role in the company’s strategic planning EXCETP ?

According to the text the most dramatic of the environments that affect marketing and appears to be now shaping our world is the ___________ environment?

A _________ is a need that is sufficiently pressing to direct the person to seek satisfaction?

The purpose of strategic planning is to find ways in which the company can best ?

Even through buying roles in the family change constantly the _________ has traditionally been the main purchasing agent for the family?