Tag: elements of business

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Questions Related to elements of business

Multiple choice elements of business sources of business finance - 1 classification & choice of sources of funds classification of sources of finance owned funds and borrowed funds

Few sellers is a feature of ________________.

  1. monopoly

  2. perfect competition

  3. monopolistic competition

  4. oligopoly
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation
Meaning of Oligopoly:
Oligopoly refers to a market situation or a type of market organisational in which a few firms control the supply of a commodity. The competing firms are few in number but each one is large enough so as to be able to control the total industry output and a moderate. However, increase of its output or sales will reduce the sales of rival firms by a noticeable amount.
This is surely the case if three to six or even ten firms control an industry’s output, with each controlling enough to exert influence on price. Oligopoly is the most prevalent form of market organisation in the manu¬facturing sector at modern times and arises due to various reasons (such as, economies of scale, patents and trademarks, control over the sources of raw materials, government’s sanction, need of a large capital, and so on). The chief characteristic of oligopoly is the interdependence among the rival sellers.
Types of Oligopoly:
Oligopoly is of two types:
(a) Pure oligopoly
Here, the oligopolists sell practically homogeneous products. This type is found in steel, copper, cement petrol and a few other industries.
(b) Differential Oligopoly:
In such a case a few firms sell similar but not identical products under the same conditions. It is found in automobiles, tyres, electrical appliances, cigarettes, baby food and a few other industries.
Multiple choice elements of business sources of business finance - 1 classification & choice of sources of funds classification of sources of finance owned funds and borrowed funds

Investors are expected to open _________ account with depository participants and deposit their share certificates for the purpose of converting them to the electronic format.

  1. remat

  2. demat

  3. deposit

  4. current
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Investors are expected to open demat account with depository participants and deposit their share certificates for the purpose of converting them to the electronic format. Demterialized account is known as demat account. It helps to covert physical form of shares to electronic form.

Multiple choice elements of business sources of business finance - 1 classification & choice of sources of funds classification of sources of finance owned funds and borrowed funds

Transactional Analysis can give employees fresh insights into their own personalities.

  1. True

  2. False

  3. Partly true

  4. Partly false
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Transactional Analysis can give employees fresh insights into their own personalities- this is a true statement. There are 3 ego states in transactional  analysis. It also helps the employees to understand the behaviour of others.

Multiple choice elements of business selling and distribution definition and functions of purchasing and storage department purchasing and stores product life cycle

________ is the basis for placing the purchase order for materials and supplies.

  1. Catalogs

  2. Purchase requisition

  3. Trade journals

  4. Quotations
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

A purchase requisition is an internal document used to notify the purchasing department of items needed, serving as the basis for the purchase order.

Multiple choice elements of business selling and distribution definition and functions of purchasing and storage department purchasing and stores product life cycle

Locating sources of supply is also called as ______.

  1. Product planning

  2. Contractual function of buying

  3. Contractual function of selling

  4. Elasticity of supply
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Locating and identifying potential sources of supply is a key preliminary step in procurement and is formally recognized as a contractual function of buying.

Multiple choice elements of business selling and distribution definition and functions of purchasing and storage department purchasing and stores product life cycle

Buyers can exercise high bargaining power over their suppliers if _________.

  1. the volume they buy accounts for a large percentage of their suppliers' sales

  2. there are few buyers in the market

  3. they have many suppliers to choose from

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

Buyers have high bargaining power when they represent a large portion of sales, when there are few buyers, or when there are many alternative suppliers available.

Multiple choice elements of business selling and distribution definition and functions of purchasing and storage department purchasing and stores product life cycle

Responsibilities that are carried by Stores Department include _____.

  1. Materials handling

  2. Storage and preservation

  3. Issue and dispatch

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

The stores department is responsible for the physical management of inventory, including handling, storage, preservation, and the issuance of goods.

Multiple choice elements of business selling and distribution definition and functions of purchasing and storage department purchasing and stores product life cycle

________ is the main factor in timely execution of industrial projects.

  1. Advertising

  2. Promotion

  3. Purchasing

  4. Selling
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Purchasing is critical for ensuring that necessary materials are available on time, which is essential for the timely execution of industrial projects.