MCQ Bank
Extending an existing brand name to new forms, colors, sizes, ingredients, or flavors of an existing product category is called:
- A) Multi brand
- B) Brand extension
- C) New Brands
- D) Line extension
Short-term incentives to encourage the purchase or sale of a product or service is called:
- A) Public relations
- B) Personal selling
- C) Advertising
- D) Sales promotion
Kotler gave brand development strategies which includes all of the following EXCEPT:
- A) Diversification
- B) Brand extension
- C) Multi brand
- D) Line extension
Which of the following is not a feature of market economy?
- A) Free choice
- B) Free capital
- C) Price flexibility
- D) Free enterprise
Which of the following is/are characteristics of Economic freedom?
- A) Maintain liberty itself
- B) Absence of government coercion
- C) Constraint on the production distribution
- D) All of the given options
______is the philosophical study of moral values and rules.
- A) Philosophy
- B) Ethics
- C) Morality
- D) Business Ethics
A private property system and a voluntary exchange system are the components of:
- A) Political right system
- B) Command system
- C) Communitarian system
- D) Free market system
Which one of the following is NOT the criterion employed by different ethicists to evaluate moral reasoning?
- A) Moral development must be ethical
- B) Moral standards must be consistent
- C) Factual evidence must be accurate, relevant, and complete
- D) Moral reasoning must be logical
Country “A” requires 50 labor hours to produce cloth and 100 hours to produce grain. Country “B” requires 200 labor hours to produce cloth and 200 hours to produce grain. Which of the following statements is true?
- A) Country “B” has an absolute advantage in the production of both cloth and grain
- B) None of the given options
- C) Country “B” has an absolute advantage in the production of grain
- D) Country “A” has a comparative advantage in the production of cloth
There is no standard of right or wrong apart from the morality of a culture. This refers to:
- A) Behaviorism
- B) Utilitarianism
- C) Ethical relativism
- D) Rationalism
Accesses to particular resources, the availability of labor are indicators of?
- A) Natural advantage
- B) Acquired advantage
- C) None of the above
- D) Technological advantage
New ethical dilemmas has been raised in 20th and 21st century because of
- A) Organizations
- B) Culture
- C) Technology
- D) People
Which of the following is NOT a resource in economy?
- A) Land
- B) Labor
- C) Capital
- D) Demand
What was the number of the patients suffering from river blindness in Africa and Latin America?
- A) 17.5 million
- B) 16 million
- C) 18 million
- D) 17 million
Which of the following are components of free market systems?
- A) Both a & b
- B) Private property system
- C) None of the above
- D) Voluntary exchange system
Which of the following is TRUE regarding moral reasoning and its evaluation?
- A) Special logical standards of validity do not apply to moral reasoning
- B) Moral reasoning involves normative or value judgments
- C) Ordinary logical standards of validity do not apply to moral reasoning
- D) Moral reasoning does not involve factual or descriptive judgments
The behavior respects the basic rights of the individuals involved and whether the behavior is consistent with one's agreements and special duties is referred as?
- A) Standards of justice
- B) Standards of caring
- C) None of the above
- D) Standards that specify how individuals must be treated
According to some theorists moral notions apply only to?
- A) Corporations
- B) None of the given options
- C) Departments
- D) Individuals
Which of the following is/are decided by a single authority in a command economy?
- A) All of the given options
- B) What to produce
- C) Who will get it
- D) Who will produce it
______is defined as Tendency to make ethical choices only on the basis of what looks right or reasonable according to one's own belief or value system.
- A) Ethical Relativism
- B) Cultural Relativism
- C) Epistemological Relativism
- D) Descriptive Relativism