Arts (English Medium) Class 12 - CBSE Question Bank Solutions

What is meant by 'Personal Selling'?

Which of the following statement is incorrect about personal selling?

Sunita took her niece. Aishwarya for shopping to 'Benetton' to buy her a dress on the occasion of her birthday. She was delighted when on payment for the dress she got a discount voucher to get 20% off for a meal of Rs 500 or above at a famous eating joint. Identify the technique of sales promotion used by the company in the above situation

Sika Ltd., a reputed industrial machines manufacture, needs Rupees twenty crores as additional capital to expand the business. Mr Amit Joshi, the Chief Executive Officer (CEO) of the company wants to raise funds through equity. The Finance Manager, Mr Narinder Singh, suggested that the shares may be sold to investing public through intermediaries, as the same will be less expensive.

Name the method through which the company decided to raise additional capital.

Mansi took her niece, Ridhima, for shopping to 'Mega Stores' to buy her a bag for her birthday. She was delighted when on payment of the bag she got a pencil box along with the bag free of cost.

Identify the technique of sales promotion used by the company.

Vanshika uses 'Kuber Cabs' for travelling in the city. She received a text message "Add Rs 222 on Kaytm and get 20% cash back on having minimum ten trips till 15th April 2017". Identify the technique of sales promotion used by the company.

Develop relationship.

____________ is the deliberate action of an organisation for promoting goodwill between itself and the society.

Within 2 years of its inception, Bhavishya Limited has created a very positive reputation for itself and its products in the eyes of the general public by participating extensively in various social welfare programs. Identify the component of promotion mixing described in the given lines.

______ involves a variety of programmes designed to promote and protect a company’s image and its individual products in the eyes of the public.

Define production function.

Distinguish between short-run and long-run production functions.

Give one example of negative externalities.

Explain the concept of a production function.

A monopoly firm has a total fixed cost of Rs 100 and has the following demand schedule:

Findthe short run equilibrium quantity, price and total profit. What would be the equilibrium in the long run? In case the total cost is Rs 1000, describe the equilibrium in the short run and in the long run.

If the monopolist firm of Exercise 3, was a public sector firm. The government set a rule for its manager to accept the government fixed price as given (i.e. to be a price taker and therefore behave as a firm in a perfectly competitive market). And the government decide to set the price so that demand and supply in the market are equal. What would be the equilibrium price, quantity and profit in this case?

The market demand curve for a commodity and the total cost for a monopoly firm producing the commodity is given in the schedules below.

Use the information given to calculate the following:

(a) The MR and MC schedules

(b) The quantities for which MR and MC are equal

(c) The equilibrium quantity of output and the equilibrium price of the commodity

(d) The total revenue, total cost and total profit in the equilibrium

Will the monopolist firm continue to produce in the short run if a loss is incurred at the best short run level of output?

Explain why the demand curve facing a firm under monopolistic competition is negatively sloped.

What is the reason for the long run equilibrium of a firm in monopolistic competition to be associated with zero profit?