Tag: elements of business

Questions Related to elements of business

Few sellers is a feature of ________________.

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

  1. monopoly

  2. perfect competition

  3. monopolistic competition

  4. oligopoly

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Correct Option: D
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.

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

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

  1. remat

  2. demat

  3. deposit

  4. current

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Correct Option: B
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.

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

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

  1. True

  2. False

  3. Partly true

  4. Partly false

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Correct Option: A
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.

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

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

  1. Catalogs

  2. Purchase requisition

  3. Trade journals

  4. Quotations

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Correct Option: B

Locating sources of supply is also called as ______.

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

  1. Product planning

  2. Contractual function of buying

  3. Contractual function of selling

  4. Elasticity of supply

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Correct Option: A

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

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

  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

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Correct Option: D

Responsibilities that are carried by Stores Department include _____.

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

  1. Materials handling

  2. Storage and preservation

  3. Issue and dispatch

  4. all of the above

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Correct Option: D

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

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

  1. Advertising

  2. Promotion

  3. Purchasing

  4. Selling

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Correct Option: C

________ is the organized acquisition of goods and services on behalf of the buying entity.

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

  1. Production

  2. Marketing

  3. Purchasing

  4. Advertising

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Correct Option: C

Purchase budget is prepared with the help of ______ department.

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

  1. production planning

  2. marketing

  3. finance

  4. administration

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Correct Option: A