Tag: elements of business

Quizzes (65) Questions (802)

Questions Related to elements of business

Multiple choice elements of business large scale retail trade forms of large scale retail stores types of retail organisation types of retailing

The profits earned by consumer cooperative stores during a year are utilized for declaring bonus to members according to purchases made by them.

  1. True

  2. False
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Consumers' co-operatives are enterprises owned by consumers and managed democratically which aim at fulfilling the needs and aspirations of their members. They operate within the market system, independently of the state, as a form of mutual aid, oriented toward service rather than pecuniary profit.

Multiple choice elements of business large scale retail trade forms of large scale retail stores types of retail organisation types of retailing

Which of the following is not a feature of Chain store?

  1. The manufacturing/procurement of merchandise for all the retail units is centralized at the head office.

  2. Each retail shop is under the direct supervision of a Branch Manager.

  3. As the size of these stores is very large, they are generally formed as a joint stock company.

  4. The prices of goods in such shops are fixed and all sales are made on cash basis.
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Chain store is that it deals in one type of product. Thus the idea behind multiple shops is specialisation. Thus we can say that chain stores mean a group of stores, handling similar lines of merchandise with single ownership and scattered location

Multiple choice elements of business large scale retail trade forms of large scale retail stores types of retail organisation types of retailing

From below mentioned which is a large-scale industry?

  1. Fertilizer

  2. Natural gas

  3. Banking

  4. All of the above
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Large scale industry refers to that industry which has huge capital, huge equipments, large number of skilled labour etc. Fertilizer, natural gas and banking industries have these characteristics. Hence, they are all large scale industries.

Multiple choice elements of business large scale retail trade forms of large scale retail stores types of retail organisation types of retailing

The benefits of large scale operations are enjoyed by_____________ in respect of purchase of goods.

  1. chain stores

  2. consumer cooperative stores

  3. departmental stores

  4. all of the above
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Large retail establishment with an extensive assortment in variety and range of goods, organized into separate departments. All departments are housed under the same roof to facilitate buying, customer service, merchandising, and control.

Multiple choice elements of business large scale retail trade forms of large scale retail stores types of retail organisation types of retailing

Name the fixed shop large retailer which have certain flexibility in respect of the goods marketed.

  1. Mail order housing

  2. Chain stores

  3. Departmental stores

  4. None of the above
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Departmental stores offer a wide variety of goods and have the flexibility to adjust their product mix based on consumer demand. Mail order houses and chain stores typically have more rigid product ranges.

Multiple choice elements of business large scale retail trade forms of large scale retail stores types of retail organisation types of retailing

Name the fixed shop large retailer which satisfies all the needs of customers under one roof.

  1. Chain stores

  2. Consumer cooperative store

  3. Mail order housing

  4. Departmental stores
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

A department store is a retail establishment offering a wide range of consumer goods in different product categories known as "departments".

Multiple choice elements of business large scale retail trade forms of large scale retail stores types of retail organisation types of retailing

Name a fixed shop large retailer in which the number of shops with similar appearances are located in different parts of the country.

  1. Chain stores

  2. Departmental stores

  3. Mail order houses

  4. Consumer cooperative store
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Chain stores, also known as multiple shops, are characterized by having multiple branches across the country with identical appearances and standardized operations. This allows for brand consistency.

Multiple choice elements of business large scale retail trade forms of large scale retail stores types of retail organisation types of retailing

Name the advantages offered by Multiple shops to its customers.

  1. Economies of scale

  2. Low cost

  3. Diffusion of risk

  4. All of the above
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Multiple shops benefit from economies of scale due to centralized purchasing, which lowers costs. They also spread risk across many locations, making 'All of the above' the correct answer.

Multiple choice elements of business large scale retail trade forms of large scale retail stores types of retail organisation types of retailing

What restricts the purchasing power of buyers from Super markets?

  1. No credit facility.

  2. No personal attention.

  3. Huge operating costs.

  4. None of these.
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Buyers power refers to the pressure buy can exert on businesses by raising prices, lowering quality, or reducing the availability of their products. Further more, a strong buyer can make an industry more competitive and decrease the profit potential for the buyer.

Multiple choice elements of business large scale retail trade forms of large scale retail stores types of retail organisation types of retailing

The chances of incurring loses in departmental stores are high as a result of _________________.

  1. high operating costs

  2. large scale operations

  3. small scale operations

  4. both A and B
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Departmental stores have high operating costs due to their large size, extensive services, and prime locations. These high costs, combined with the risks inherent in large-scale operations, increase the potential for losses.