Tag: functioning of commercial organisation

Questions Related to functioning of commercial organisation

Match the following.

$1$. Agents a) Do not take any title to goods
$2$. Merchant middleman b) Take a title to goods
$3$. Resident buyer c) A merchant or occasionally an agent, whose business is selling directly to the ultimate consumer
$4$. Retailer d) An agent or a person who specialises in buying on a fee or commission basis, chiefly for retailers
  1. $1$-a, $2$-b, $3$-c, $4$-d

  2. $1$-b, $2$-c, $3$-a, $4$-d

  3. $1$-a, $2$-b, $3$-d, $4$-c

  4. $1$-a, $2$-c, $3$-d, $4$-b


Correct Option: C

Criteria for successful market segmentation.
I. Substantiality
II. Measurability
III. Accessibility
IV. Representability.
Of these.

  1. I and II are correct

  2. II, III and IV are correct

  3. I, II and III are correct

  4. All are correct


Correct Option: D

Under __________ buyers may be divided on the basis of the quantity purchased.

  1. Volume segmentation

  2. Life style segmentation

  3. Product segmentation

  4. Benefit segmentation


Correct Option: A

If the sample size increases, the sampling error __________.

  1. decreases

  2. increases

  3. remains constant

  4. none of the above


Correct Option: A
Explanation:

The relationship between margin of error and sample size is inverse i.e when sample size increases, the sampling error decreases. This is because the more information you have, the more accurate the results would be. 

What is probability of rejecting the null hypothesis when it is true called?

  1. Type II error

  2. Type I error

  3. Standard error

  4. None of these


Correct Option: A

_________ offers the opportunity to produce goods as per customer and specific need.

  1. Job method

  2. Batch method

  3. Flow method

  4. All of the above


Correct Option: D

Main factor for spending on R and D are ________.

  1. for survival in the market

  2. for change in environment

  3. for change in government policies

  4. change in company's image


Correct Option: A

Early identification of opportunities helps an enterprise to be the first to exploit them instead of losing it to competitors. The mentioned advantage can be categorized under ______.

  1. first mover advantage

  2. initial identifier advantage

  3. earlier advantage

  4. second mover advantage


Correct Option: A