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MCQs on Basic Tools of Managerial Economics
const questions = [
{
q: “When did the Indian independence movement start gaining significant momentum?”,
options: [“1857”, “1919”, “1942”, “1947”],
answer: 0
},
{
q: “Who was the first Governor-General of independent India?”,
options: [“Jawaharlal Nehru”, “C. Rajagopalachari”, “Lord Mountbatten”, “Mahatma Gandhi”],
answer: 1
},
{
q: “What is the full form of the term ‘GST’ introduced in India?”,
options: [“General Services Tax”, “Goods and Services Tax”, “General Sales Tax”, “Goods Sales Tax”],
answer: 1
},
{
q: “Which of the following is considered the largest economy in the world?”,
options: [“China”, “India”, “United States”, “Japan”],
answer: 2
},
{
q: “What is the capital of India?”,
options: [“New Delhi”, “Mumbai”, “Kolkata”, “Chennai”],
answer: 0
},
{
q: “Who is known as the father of the Indian Constitution?”,
options: [“Jawaharlal Nehru”, “Dr. B.R. Ambedkar”, “Mahatma Gandhi”, “Sardar Patel”],
answer: 1
},
{
q: “What year was the Constitution of India adopted?”,
options: [“1947”, “1948”, “1950”, “1952”],
answer: 2
},
{
q: “Which city is known as the ‘Silicon Valley of India’?”,
options: [“Mumbai”, “Bengaluru”, “Hyderabad”, “Chennai”],
answer: 1
},
{
q: “Which state is known as the ‘Land of Rising Sun’ in India?”,
options: [“Assam”, “Nagaland”, “Arunachal Pradesh”, “Manipur”]()
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op 6 Pricing Policies in Managerial Economics | Easy Explanation with Examples
Top 6 Pricing Policies
➤ 1. Penetration Pricing
Definition: A low price is set for a new product to quickly attract buyers and gain market share.
Example: Jio launched with free data and very cheap plans.
➤ 2. Skimming Pricing
Definition: A high price is charged first, especially for new or unique products, and lowered later.
Example: New smartphones or TVs often launch at high prices and drop later.
➤ 3. Psychological Pricing
Definition: Setting prices like ₹99 or ₹199 to make the customer feel it’s cheaper.
Example: A product priced at ₹99 instead of ₹100.
➤ 4. Bundle Pricing
Definition: Offering multiple products together at a lower price than if bought separately.
Example: Combo meals in restaurants or software packages.
➤ 5. Competitive Pricing
Definition: Prices are set based on what competitors are charging.
Example: Cola companies like Pepsi and Coca-Cola keep prices similar.
➤ 6. Cost-Plus Pricing
Definition: Final price = Cost of production + a fixed profit.
Example: If cost is ₹100 and profit margin is ₹20 → price = ₹120.
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