Tag: markets and marketing

Quizzes (2) Questions (46)

Questions Related to markets and marketing

Multiple choice organization of commerce and management markets and marketing meaning, nature and importance of services introduction to services nature and types of services

The service provided to improve the standard of living of the weaker sections of society are ______________.

  1. Business services

  2. Social services

  3. Personal services

  4. None of the above
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation
Business services are those services which are used by business enterprises for the conduct of their activities.
Social services are those services that are generally provided voluntarily in pursuit of certain social goals. These social goals may be to improve the standard of living for weaker sections of society, to provide educational services to their children, or to provide health care and hygienic conditions in slum areas.
Personal services are those services which are experienced differently by different customers.

Multiple choice organization of commerce and management markets and marketing meaning, nature and importance of services introduction to services nature and types of services

Services are ___________ in nature.

  1. Intangible

  2. Inconsistent

  3. Inseparable

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

Services are intangible. They cannot be touched and felt. They are inconsistent as it they are unique and heterogeneous. They are inseparable as well which means that the production and consumption of service cannot be separated unlike a tangible product.

Multiple choice organization of commerce and management markets and marketing meaning, nature and importance of services introduction to services nature and types of services

A joint HUF business ceases to exist on the death of the KARTA.

  1. True

  2. False

  3. Partly true

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

On the death of the Karta, the Joint Hindu Family business continues to exist as the next senior-most family member becomes the Karta. However, a Joint Hindu Family business can be dissolved any time either through mutual agreement between members or by partition.

Multiple choice organization of commerce and management markets and marketing meaning, nature and importance of services introduction to services nature and types of services

___________ services are experienced differently by different customers according to their preferences and demands.

  1. Business

  2. Social

  3. Personal

  4. All of the above
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation
  • Business services are those services which are used by business enterprises for the conduct of their activities.
  • Social services are those services that are generally provided voluntarily in pursuit of certain social goals.
  • Personal services are those services which are experienced differently by different customers. They will also depend upon customer’s preferences and demands. For example, tourism, recreational services, restaurants.
Multiple choice organization of commerce and management markets and marketing meaning, nature and importance of services introduction to services nature and types of services

The simultaneous activity of production and consumption of services is called _____________.

  1. Inventory

  2. Inconsistency

  3. Inseparability

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

They are inseparable as well which means that the production and consumption of service cannot be separated unlike a tangible product.

Multiple choice organization of commerce and management markets and marketing meaning, nature and importance of services introduction to services nature and types of services

Which of these statement(s) is/are true about a good objective?

  1. A good objective should clarify the desired result.
  2. Enable achievement to be measured.
  3. Need not specify a time scale.

  1. 1 & 2

  2. 2

  3. 1

  4. 3
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Objectives are laid down so as to achieve the desired results. A good objective formed should be clear which is meaningful and understandable. While setting objective, it should be ensured that the performance can be measured in monetary terms.

Multiple choice organization of commerce and management markets and marketing meaning, nature and importance of services introduction to services nature and types of services

What does the postal rule state?

  1. That acceptance occurs as soon as the letter is posted.

  2. The acceptance occurs when the letter is received by the offeror.

  3. That acceptance occurs when the letter is read by the offeror.

  4. That acceptance does not occur if the letter lost in the post.
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Postal rule states that acceptance occurs as soon as the letter is posted.. According to the postal rule, there is a contract which makes the acceptance  possible when the letter gets posted. Postal rule is often referred as a rule of contract law.

Multiple choice organization of commerce and management markets and marketing meaning, nature and importance of services introduction to services nature and types of services

International trade in goods & services is sometimes used as a substitute for all of the following except ________________________________.

  1. international movement of capital

  2. domestic production of different goods and services

  3. international movement of labor

  4. international movement of technology
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

International trade in goods & services is sometimes used as a substitute for international movement of capital, international movement of labour and international movement of technology except domestic production of different goods and services. Goods and services which are produced and consumed within the given territory are not included in the domain of international trade in goods and services.

Multiple choice organization of commerce and management markets and marketing meaning, nature and importance of services introduction to services nature and types of services

International trade is based on the idea that ______________.

  1. exports should exceed imports

  2. resources are less mobile internationally are goods

  3. resources are more mobile internally than are goods.

  4. imports should not be there
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

International trade is based on the idea that resources are less mobile internationally are goods. International trade can be defined as a process by which exhange of capital goods and services are done across border of different territories. It forms a crucial share in an economy's GDP.

Multiple choice organization of commerce and management markets and marketing meaning, nature and importance of services introduction to services nature and types of services

Standing offer means purchasing of goods on _____________.

  1. as and when basis

  2. as and where basis

  3. as and how basis

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

Standing offer means purchasing of goods on as and where basis. Standing offer is not to be referred as any contract. Standing offer can be described as an offer from a potential supplier in order to provide goods and services. The prices and terms and conditions should get fixed at a before hand in case of standing offer.