Tag: organization of commerce and management

Quizzes (70) Questions (1107)

Questions Related to organization of commerce and management

Multiple choice organization of commerce and management consumerism the consumer protection act, 1986 consumer protection commerce

Which of the following is appropriate for reports?

  1. Avoid using headings and transitions

  2. Introduce the visuals in the document

  3. Use a very formal style to impress readers

  4. Use slang and contractions
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Introduce the visuals in the document is appropriate for reports. This will help faster retention of information by the audience. In a way visuals are more appealing for the audience to watch.

Multiple choice organization of commerce and management consumerism the consumer protection act, 1986 consumer protection commerce

A thought of new product is examined amongst potential consumers to determine consumer Acceptance at which state? 

  1. Concept

  2. Test marketing

  3. Product development

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

A thought of new product is examined among potential consumers to determine consumer acceptance at the concept state. New product is designed according to the need of the potential buyers. Thus, at the concept stage or planning stage, a thought of new product is examined.

Multiple choice organization of commerce and management consumerism the consumer protection act, 1986 consumer protection commerce

A distinct advantage that provides a firm to contribute greatly to customer benefits in the end products is known as _____________.

  1. competitive advantage

  2. competence

  3. core competence

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

A distinct advantage that provides a firm to contribute greatly to customer benefits in the end products is known as core competence. It also provides long term competitive advantage. Thus in turn, the consumers get benefited.

Multiple choice organization of commerce and management consumerism the consumer protection act, 1986 consumer protection commerce

Consumer's market is a type of __________ market.

  1. buyer's

  2. sellers

  3. distributor's

  4. none of the above
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Consumer's market is a type of buyer' market as in this market people buys goods mainly for the consumption purpose. Consumer refers to a person who consumes goods with his given income and prices of the goods and buyer is a person who buys the goods.

Multiple choice organization of commerce and management consumerism the consumer protection act, 1986 consumer protection commerce

Distribution channel aims of moving products from producer to ___________.

  1. ultimate consumer

  2. retailers

  3. stockists

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

Distribution channel aims of moving products from producer to ultimate consumer. Distribution channel refers to the pathway of several persons by which the finished goods get transferred to the final consumer. Wholesaler is an agent of the distribution channel of the products.

Multiple choice organization of commerce and management consumerism the consumer protection act, 1986 consumer protection commerce

Dividing the total market into several groups on the basis of consumer characteristics is known as:

  1. Market segmentation

  2. Market Development

  3. Market Research

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

Dividing the total market into several groups on the basis of consumer characteristics is known as market segmentation. In this process, potential consumers are divided into different groups. Market segmentation is done to facilitate market research.

Multiple choice organization of commerce and management consumerism the consumer protection act, 1986 consumer protection commerce

Match the following:

A. Various combinations of two commodities that a consumer can purchase 1.  Indifference map
B. Various combinations of two commodities that give consumer equal satisfaction 2. Indifference curve
C.  A set of indifference curves 3. Budget line
D. Point of agency of a budget line and an indifference curve 4. Consumer's equilibrium

  1. A-1, B-2, C-4, D-3

  2. A-4, B-3, C-2, D-1

  3. A-2, B-3, C-4, D-1

  4. A-3, B-2, C-1, D-4
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation
a) Various combinations of two commodities that a consumer can purchase is depicted by the budget line.
b) Various combinations of two commodities that give consumer equal satisfaction is depicted by an indifference curve.c) A set of indifference curves is known as indifference map.d) Point of agency of a budget line and an indifference curve is known as consumer's equilibrium point.

Multiple choice organization of commerce and management consumerism the consumer protection act, 1986 consumer protection commerce

____ account for the bulk of call centre activities with 24 x 7 handling of inbound customer queries and grievances and out-bound activities customer surveys, payment follow up, and telemarketing.

  1. Agent care

  2. Customer care

  3. Seller care

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

Customer care centers are the primary hubs for handling inbound queries, grievances, and outbound customer-related activities like surveys and follow-ups.

Multiple choice organization of commerce and management business risks and insurance marine insurance kinds of insurance re-insurance and double insurance

State the following statement is True or False:
A policy which covers all types of risks is comprehensive policy.

  1. True

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

Comprehensive policy covers losses arising from various kinds of risks arising from uncertain events such as, fire, theft, burglary. It is also known as an all-in-one-policy.

Multiple choice organization of commerce and management types of insurance marine insurance kinds of insurance re-insurance and double insurance

State the following statement is True or False:
A marine policy which is taken for a fixed period is time policy.

  1. True

  2. False
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation
Time policy is issued where the ship is insured for a definite period of time. The ship may pursue any course it chooses to, the policy would cover all the risks related to marine perils for the particular period of policy. 
A time policy is generally issued for one year, but it may contain a continuation clause to enable a ship to continue its voyage.