Dear readers,
This quiz consists of questions from
various past papers of MBA entrance exams. Leave your answers/ responses in the
comments section below and soon we’ll let you know the correct answers!
Directions for questions 1 to 6: Fill in the
gaps in the passages below with the most appropriate word from the options
given. The right words are the ones used by the author. Be guided by the
author’s overall style and meaning when you choose the answers.
Von Nuemann and Morgenstern assume a
decision framework in which all options are thoroughly considered, each option
being independent of the others, with a numerical value derived for the utility
of each possible outcome (these outcomes reflecting, in turn, all possible
combinations of choices). The decision is then made to maximise the expected
utility.
(1) such a model reflects major
simplifications of the way divisions are made in the real world. Humans are not
able to process information as quickly and effectively as the model assumes;
they tend not to think (2) as easily
as the model calls for; they often deal with a particular option without really
assessing its (3) and when they do
assess alternatives, they may be extremely nebulous about their criteria of
evaluation.
1. 1.
Regrettably 2. Firstly 3. Obviously 4. Apparently
2. 1.
Quantitatively 2. Systematically
3. Scientifically 4. Analytically
3. 1.
Implications 2. Disadvantages 3. Utility 4. Alternatives
In a large company, (4) people is about as common as using a gun or a switch-blade to (5) an argument. As a result, most
managers have little or no experience of firing people, and they find it
emotionally traumatic; as result, they often delay the act interminably, much
as an unhappy spouse will prolong a bad marriage. And when the firing is done,
it’s often done clumsily, with far worse side effects than are necessary.
Do the world-class software organisations
have a different way of firing people? No, but they do the deed swiftly,
humanely, and professionally.
The key point here is to view the fired
employee as a ‘failed product’ and to ask how the process (6) such a phenomenon in the first place.
4. 1.
Dismissing 2. Punishing 3. Firing 4. Admonishing
5. 1.
Resolve 2. Thwart 3. Defeat 4. Close
6. 1.
Derived 2. Engineered 3. Produced 4. Allowed
Directions for questions 7 to 10: In each
of the questions below, four different ways of writing a sentence are
indicated. Choose the correct one.
7.
A. The main problem with the notion of
price discrimination is that it is not always a bad thing, but that it is the
monopolist who has the power to decide who is charged what price.
B. The main problem with the notion of
price discrimination is not that it is always a bad thing, it is the monopolist
who has the power to decide who is charged what price.
C. The main problem with the notion of
price discrimination is not that it is always a bad thing, but that it is the
monopolist who has the power to decide who is charged what price.
D. The main problem with the notion of
price discrimination is not it is always a bad thing, but that it is the
monopolist who has the power to decide who is charged what price.
1. A 2. B 3. C 4. D
8.
A. A symbiotic relationship develops among
the contractors, bureaucracy and the politicians, and by a large number of
devices costs are artificially escalated and black money is generated by
underhand deals.
B. A symbiotic relationship develops among
contractors, bureaucracy and politicians, and costs are artificially escalated
with a large number of devices and black money is generated through underhand
deals.
C. A symbiotic relationship develops among
contractors, bureaucracy and the politicians, and by a large number of devices
costs are artificially escalated and black money is generated on underhand
deals.
D. A symbiotic relationship develops among
the contractors, bureaucracy and politicians, and by large number of devices
costs are artificially escalated and black money is generated by underhand
deals.
1. A 2. B 3. C 4. D
9.
A. The distinctive feature of tariff and
export subsidies is that they create difference of prices at which goods are
traded on the world market and their price within a local market.
B. The distinctive feature of tariff and
export subsidies is that they create a difference of prices at which goods are
traded with the world market and their prices in the local market.
C. The distinctive feature of tariff and
export subsidies is that they create a difference between prices at which goods
are traded on the world market and their prices within a local market.
D. The distinctive feature of tariff and
export subsidies is that they create a difference across prices at which goods
are traded with the world market and their prices within a local market.
1. A 2. B 3. C 4. D
10.
A. Any action of government to reduce the
systemic risk inherent in financial markets will also reduce the risks that
private operators perceive and thereby encourage excessive hedging.
B. Any action by government to reduce the
systemic risk inherent in financial markets will also reduce the risks that
private operators perceive and thereby encourage excessive gambling.
C. Any action by government to reduce the
systemic risk inherent in financial markets will also reduce the risks that
private operators perceive and thereby encourages excessive gambling.
D. Any action of government to reduce the
systemic risk inherent in financial markets will also reduce the risks that
private operators perceive and thereby encourages excessive gambling.
1. A 2. B 3. C 4. D
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Answers
1(3) 2(1)
3(4) 4(3) 5(4)
6(4) 7(3) 8(2)
9(3) 10(2)