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Management Managerial Economics Difficulty: Medium

According to the Equal Remuneration Rules, 1976, every employer shall maintain a register in relation to the workers employed by him in which of the following forms? Given X = 0.85y, Y = 0.89x, σ z = 3, find σ y Match the following. List-I (Specific training methods) List-II (Qualities) a. On-the-job training 1. Under this method, trainee is separatly focussed on learning the material related to is future performance. b. Off-the-job training 2. Mostly, the executive training is done on the job. An executive is expected to learn his work while working. c. Understudy method 3. The executive under this method is assigned an understudy or an assistant who in addition to his regular duties is expected to acquire some familiarity with the tasks and practices of his supervisor. d. Role playing method 4. Under this method, an employee learns by playing role in drammatic setting which corresponds to his work. Which of the following is not part of the production planning? Match the items of List I with that of List II and suggest the correct answer. List-I (Pricing Strategies) List-II (Explanations) a. Customary pricing 1. Ending a price with 99 paise b. Skimming 2. Pricing a product based on perceived expectations of customers c. Penetration pricing 3. Setting a high price which gradually reduces as competitors enter the market d. Psychological pricing 4. Setting a low price for a new product during its intitial offering