Tag: elements of business

Questions Related to elements of business

Name a large shop retailer that is generally formed as a Joint stock company managed by a board of directors.

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

  1. Chain stores

  2. Departmental Stores

  3. Mail order houses

  4. None of the above

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Correct Option: B

What are the advantages of departmental stores?

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

  1. They attract large umber of customers.

  2. Convenience in buying.

  3. Attractive services.

  4. All of the above

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Correct Option: D

Operating costs of running a supermarket is less because of which of the following factors?

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

  1. Being operational on a large scale

  2. Central location

  3. No bad debts

  4. One roof, low cost

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Correct Option: A
Explanation:

A supermarket - Offering a wide variety of food and household products, organized into sections and shelves. It is larger and has a wider selection than earlier  but is smaller and more limited in the range of merchandise .

The supermarket typically has aisles for meat, fresh dairy, and baked goods. Shelf space is also reserved for canned and packaged goods and for various non-food items such as kitchenware, household cleaners, pharmacy products and pet supplies. Some supermarkets also sell other household products that are consumed regularly, such as alcohol (where permitted), medicine, and some sell a much wider range of non-food products: DVDs, sporting equipment, board games, and seasonal items (e.g., Christmas wrapping paper in December).

The ________  may raise costs in super markets.

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

  1. lack of personal attention

  2. requirement of huge capital

  3. high overhead expenses

  4. mishandling of goods by customers

Show answer
Correct Option: D
Explanation:

One of the most basic reasons companies raise prices on their products and services is to adjust to increased business costs. A product reseller, for instance, might raise prices simply because its supplier raised prices on materials or finished goods.

Which of the limitation talks about lack of initiative under the Chain store or Multiple shops retailer?

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

  1. Fluctuations in demand for the merchandise may lead to loss because of large stock.

  2. The personnel managing the multiple shops have to obey the instructions received from the head office which makes them habitual for directions.

  3. The multiple shops deal only in limited range of products.

  4. All of the above

Show answer
Correct Option: B
Explanation:

It is an approach to operating a retail business in which you offer products to customers through multiple retail channels. Brick and mortar stores, catalogs and the Internet are three primary multiple channels used by many retailers, but other, smaller retail formats exist as well.

Name some of the fixed shop large retailers that are present in the market.

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

  1. Departmental stores

  2. Chain stores

  3. Mail order houses

  4. All of the above

Show answer
Correct Option: D

Mention the goods that are traded in Super markets.

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

  1. Groceries

  2. Utencils

  3. Electronic goods

  4. All of the above

Show answer
Correct Option: D
Explanation:

A supermarket is a self-service shop offering a wide variety of food and household products, organized into sections and shelves. It is larger and has a wider selection than earlier grocery stores, but is smaller and more limited in the range of merchandise than a hypermarket or big-box market.

Which of the following is/are example(s) of Departmental store(s) in India?

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

  1. Akberally

  2. Shoppers Stop

  3. Spencers

  4. All of the above

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Correct Option: D
Explanation:

In India, companies like Big Bazaar, Shopper's Stop, Kingsberry, Pantaloon, Ezone and D-Mart are entering into retail. Small-time department stores or convenience shops as they are better known in most western countries are also upcoming.

Identify the incorrect statement regarding large shop retailers.

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

  1. There are different size groups of fixed shop retailers.

  2. These retailers may be dealing in different products, including consumer durable as well as non-durable.

  3. This category of retailers has greater credibility in the minds of customers.

  4. They normally deal in consumer products of daily use.

Show answer
Correct Option: D
Explanation:

Large scale retail trade is a type in which either single type of goods or a variety of goods is made available to a large number of consumers in a big shop under a singel roof or may be made available at the convenience of customers.

The type of store that features Product lines is _______.

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

  1. hawkers

  2. one price retailer

  3. departmental Store

  4. all of the above

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Correct Option: C
Explanation:

Product lines is a group of related products under a single brand sold by the same company . Companies sell multiple product lines under same brand. 

Product lines cover departmental stores .