Tag: social science

Questions Related to social science

Third step of cost-based pricing is to _______.

social science index number value and price important index numbers price rise/inflation

  1. Design a product

  2. Determine cost of product

  3. Set price based on cost

  4. Convince buyer about products value

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Correct Option: C
Explanation:

Cost based pricing is the easiest way to calculate what a product should be priced at. This appears in two forms: full cost pricing and direct-cost pricing. So after designing the product, determining the cost of the product, one must set the price of the product as its determined cost.

Only element which is the cause of income for company is ______.

social science index number value and price important index numbers price rise/inflation

  1. Price

  2. Tax

  3. Discount

  4. Value added tax

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Correct Option: A
Explanation:

The are many reasons behind the income of a company. But before any other reason, the company must design its product or service and set a reasonable price to it. Any certain change to the price can affect the set of customers to that company. So, price is the deriving element towards the cause of income for company.

A strategy that ensures price target is to be met is termed as _______.

social science index number value and price important index numbers price rise/inflation

  1. Target costing

  2. Marginal costing

  3. Demand based costing

  4. Learning curve costing

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Correct Option: A
Explanation:

Target costing is an approach to determine a product's life-cycle cost which should be sufficient to develop specified functionality and quality, while ensuring its desired profit. It involves setting a target cost by subtracting a desired profit margin from a competitive market price.

In India, inflation is measured through __________.

social science index number value and price important index numbers price rise/inflation

  1. Consumer Price Index

  2. Producer Price Index

  3. Wholesale Price Index

  4. None of the above

Show answer
Correct Option: C
Explanation:

Inflation rates in India are usually quoted as changes in the Wholesale Price Index (WPI), for all commodities.

The Wholesale Price Index (WPI) is the price of a representative basket of wholesale goods.

Consumer price index is also known as ____.

social science index number value and price important index numbers price rise/inflation

  1. cost of living index

  2. cost of consumption index

  3. IIP

  4. none of these

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Correct Option: A

The CPI for industrial workers and agricultural labourers are published by ______.

social science index number value and price important index numbers price rise/inflation

  1. Labour Bureau, Shimla

  2. CSO

  3. NFRA

  4. NSSO

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Correct Option: A

3 CPI which are constructed in India are-

social science index number value and price important index numbers price rise/inflation

  1. CPI for industrial workers

  2. CPI for urban non-manual employees

  3. CPI for agricultural labourers

  4. CPI for urban workers

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Correct Option: A,B,C

The ________ publishes the CPI number of urban non-manual employees. 

social science index number value and price important index numbers price rise/inflation

  1. NSSO

  2. Labour Bureau

  3. CSO

  4. Both B and C

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Correct Option: C

_________ shows the most accurate impact of price rise on the cost of living of common people.

social science index number value and price important index numbers price rise/inflation

  1. CPI

  2. Cost of living index

  3. WPI

  4. Both A and B

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Correct Option: C

The average monthly salary of a PSU employee was Rs. 40,000 in 2000 with a consumer price index of 150. In December 2006 the Consumer price index rose to 195 points. The increase in the monthly salary of the employee in order to neutralize the effect of inflation necessary is ______.

social science index number value and price important index numbers price rise/inflation

  1. Rs. 10,000

  2. Rs. 12,000

  3. Rs. 8000

  4. Rs. 9000

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Correct Option: B