Tag: organization of commerce and management

Questions Related to organization of commerce and management

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

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

  1. international movement of capital

  2. domestic production of different goods and services

  3. international movement of labor

  4. international movement of technology

Show answer
Correct Option: B
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.

International trade is based on the idea that ______________.

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

  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

Show answer
Correct Option: B
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.

Standing offer means purchasing of goods on _____________.

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

  1. as and when basis

  2. as and where basis

  3. as and how basis

  4. none of the above

Show answer
Correct Option: B
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.

Which one of the following is not a remedy available in case of default?

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

  1. Sue for breach of contract and for damages.

  2. Repossess the goods after the buyer has resold them.

  3. Stop delivery of the goods.

  4. Demand specific performance.

Show answer
Correct Option: B
Explanation:

Repossess the goods after the buyer has resold them.is not a remedy available in case of default.  When the buyer defaults on payments, possessions on something cannont be retaken..

An agent, which sells the goods, which are in its possession for his principal, is ______________.

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

  1. broker

  2. factors

  3. auctioneers

  4. none of the above

Show answer
Correct Option: A
Explanation:

An agent, which sells the goods, which are in its possession for his principal, is broker. Broker is responsible for arranging transactions between the buyer and seller of any goods. A broker is entitled to a certain amount of commission when the deal is executed.

Goods displayed on a shop window with a price tag is an _______________.

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

  1. offer

  2. invitation to offer

  3. counter of the above

  4. none of the above

Show answer
Correct Option: B
Explanation:


Goods displayed of a shop window with a price label will amount invitation to offer since the shopkeeper making an invitation invites others to make an offer to him. It is prelude to an offer inviting negotiations or preliminary discussions.

_________ offers the opportunity to produce goods as per the requirements of a customer.

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

  1. Job Method

  2. Batch method

  3. Flow method

  4. All of the above

Show answer
Correct Option: A
Explanation:

Job method offers the opportunity to produce goods as per the requirements of a customer. Customer is the king pin of the market. Thus, job methods helps to know the requirements and interest of the customers and then production of the required goods and services are to be started accordingly.

What do we mean by ITES?

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

  1. Indian Technology Enabled Services

  2. International Telecommunication Extra Services

  3. Information Technology Enabled Services

  4. none of the above

Show answer
Correct Option: C
Explanation:

ITES Information Technology Enabled Services. It covers the entire gamut of operations which is related to Information Technology. It helps to improve the efficiency of an organization. It is also known as enabled services or remote services.

Paid form of non-personal promotion of ideas, goods and services by an identified sponsor is called:

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

  1. Advertising.

  2. Sales promotion

  3. Personal Selling

  4. None of the above

Show answer
Correct Option: A
Explanation:

Paid form of non-personal promotion of ideas, goods and services by an identified sponsor is called advertising. Advertising is a marketing tactic. It helps to reach the wide-base of customers who are willing to buy products or services of the company which are advertised.

Business people have the skills to solve ___________.

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  1. All social problems

  2. Some social problems

  3. No social problems

  4. All economic problems

Show answer
Correct Option: B
Explanation:

Business people are skillful. They have innovative power. They try to comply with the social responsibilities associated to them. But, business people do not have the motivation to solve all social problems as private companies main aim is to maximize profits. Hence, they are only able to solve a few social problems.