Concept of Microeconomics

Concepts of Microeconomics – An Introduction

Understanding the concepts of microeconomics is very important because microeconomics is the study of the economic behaviour of individual units of an economy. The individual units comprise persons, households, firms or industries. Microeconomics does not explain what should happen in a market; instead, it explains what one should expect if certain conditions change.

Here we will focus on the most important concepts of microeconomics. They are:

• Markets
• Goods
• Demand and Supply
• Marginal Utility Curve
• Consumer Demand Theory
• Welfare Economics

Marketing Quiz 2

1. Marketing in Banks is required for ____________
a. Getting new customers
b. Retaining existing customers
c. Lending
d. Accepting of deposits
e. All of the above

2. Service4 Marketing is the same as _____________
a. Relationship Marketing
b. Transaction Marketing
c. Internal Marketing
d. All of the above
e. None of the above

Marketing Quiz for SBI

Direct Marketing means ___________
a. Advertisements
b. Banners
c. Face-to-face selling
d. Selling by all staff
e. Achieving targets

2. Web marketing involves ___________
a. Selling web cameras
b. Web advertisements
c. E-mail chatting
d. Browsing the web
e. Door-to-Door canvasing

Marketing Quiz 4

Q.1. A --- is any activity or benefit ofered for sale that is esentialy intangible and does not result in the ownership of anything.
(1) Demand
(2) Basic staple
(3) Product
(4) Service
(5) Al of these
Ans: 4

Marketing Quiz 3

Q.1. The folowing ofering is not a service-
(1) Fixed deposit receipt
(2) Postage stamp
(3) Insurance policy
(4) Gift coupon of the chain store.
(5) Al of these
Ans: 4

Marketing Quiz 2

Q.1. Planed cost service means-
(1) costly products
(2) extra profit on the same cost
(3) extra work by seler
(4) al of these
(5) None of these
Ans: 2

Marketing Quiz 1

1. Modern style of marketing include
(1) digital marketing (2) tele-marketing (3) e-commerce
(4) e-mails solicitation (5) Al of these
Ans. (5)

2. Agresive Marketing is necesitated due to:
(1) globalization (2) increased competion (3) increased production
(4) increased job oportunites (5) Al of these
Ans. (2)