Commerce Paper-2 Quiz for CBSE UGC NET Exams

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Commerce Paper-2 Quiz

1.   The Marshallian utility analysis is based on a less valid assumption of :
    (1)  cardinal measurability of the utility
    (2)  given marginal utility of money
    (3)  diminishing marginal utility of the goods
    (4)  additivity of the utility

2.   Match the items of the List – I with those of the List – II and indicate the correct code :

List – I List – II
(a) Convexity of the indifferences curve to origin (i) Indifference curve analysis
(b) Quantity of certain goods sacrificed for a (ii) Consumer’s equilibrium
large quantity of other goods
(c) Equality of the ratio of the marginal (iii) Substitutability/complementarity
utilities with that of the prices of the of the two goods
two goods
(d) Separation of substitution and income (iv) Marginal rate substitution
effects from the total price effect
Codes :
(a) (b) (c) (d)
    (1)  (iv) (ii) (i) (iii)
    (2)  (iii) (iv) (ii) (i)
    (3)  (iii) (i) (iv) (ii)
    (4)  (i) (iii) (ii) (iv)

3.   Firms producing and selling a large variety of goods will generally follow :

    (1)  Cost plus pricing
    (2)  Marginal pricing
    (3)  Skimming pricing
    (4)  Product line pricing

4.   For the following two statements of Assertion (A) and Reasoning (R) indicate the correct code :

Assertion (A) : All firms under perfect competition in long run earn only normal profit.

Reasoning (R) : All firms under perfect competition in long run operate at the minimum average cost level.

Codes :

    (1)  (A) and (R) both are correct.
    (2)  (A) is correct but (R) is not correct.
    (3)  (A) is not correct but (R) is correct.
    (4)  (A) and (R) both are incorrect.

5.   Match the items of List – I with those of List – II and indicate the correct code :

List – I List – II
(a) Substitute Goods (i) Negative Cross Elasticity
(b) Complementary Goods (ii) Low Price Elasticity
(c) Giffen Goods (iii) Positive Cross Elasticity
(d) High Income Group Consumption Goods (iv) Positive Price Elasticity
Codes :

(a) (b) (c) (d)

    (1)  (iii) (iv) (ii) (i)
    (2)  (iii) (i) (iv) (ii)
    (3)  (ii) (iii) (i) (iv)
    (4)  (4) (i) (ii) (iii) (iv)

6.   Which one of the following is not a method of studying association of attributes ?
    (1)  Concurrent Deviation Method
    (2)  Proportion Method
    (3)  Yule’s Method
    (4)  Coefficient of Contingency

7.   Identify which of the following steps would be included in hypothesis testing :

(a) State the null and alternative hypothesis.

(b) Set the significance level before the research study.

(c) Eliminate all outliers.

(d) Obtain the probability value using a computer program such as SPSS.

(e) Compare the probability value to the significance level and make the statistical decision.

Codes :

    (1)  (a), (c) and (d)
    (2)  (c), (d), and (e)
    (3)  (a), (b), (d) and (e)
    (4)  (b), (c), (d) and (e)

8.   Select the methods of finding out correlation from the following :

(a) Karl Pearson’s Method

(b) Spearman’s Rank Method

(c) Yule’s Method

(d) Coefficient of Contingency

(e) Concurrent Deviation Method

Codes :

    (1)  (a), (b), (c)
    (2)  (a), (b), (c), (d)
    (3)  (a), (b), (e)
    (4)  (c), (d), (e)

9.   A set of data can be distinguished from other set of data by means of :
    (1)  Central value and dispersion
    (2)  Central value, dispersion and skewness
    (3)  Central value, dispersion, skewness and Kurtosis
    (4)  None of the above

10.   The advent of computers in research has led to :
    (1)  Limitations of options in analysis
    (2)  Tremendous amount of flexibility with marginal increase in cost
    (3)  Myopic exposure of statistics to the researcher
    (4)  None of the above



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