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- Question
A raise in the price of a product causes
Options- A. an increase in competition
- B. an increase in demand
- C. a decrease in competition
- D. a decrease in supply
- Correct Answer
- an increase in competition
ExplanationThe raise in the price of a product may be due to increase in cost of production, increase in the demand of the product and increase in the margin.
When the price of a product increases its demand may fall as per the Law of Demand and an increase in the competition.
- 1. Which phase of DMAIC is designed to insure that the problem does NOT reoccur and that the new processes can be further improved over time?
Options- A. Design
- B. Control
- C. Analyze
- D. Improve Discuss
- 2. Which of these is an example of a labor law?
Options- A. A town zones an area for residential buildings only
- B. A restriction on when a union may call a strike
- C. A surplus of supply
- D. All of the above Discuss
- 3. Which of the following European Pharmaceutical companies is a subsidary of Ranbaxy group?
Options- A. Basics GmbH
- B. Viatris GmbH
- C. RPG Aventis
- D. Bayer AG Discuss
- 4. In a Comprehensive settlement of Dabhol Power Project, two American companies have agreed to transfer its share in the project. One of them is General Electric. Identify another one.
Options- A. Exxon Mobile
- B. Bechtel
- C. Chevron
- D. Unocal Discuss
- 5. 'Khazanah' is the state-owned investment holding arm of which country?
Options- A. Singapore
- B. Japan
- C. Mauritius
- D. Malaysia Discuss
- 6. Innovation allows producers to
Options- A. follow restrictions that the government imposes
- B. offer warranties for all of their products
- C. create goods that draw consumer attention
- D. avoid competing with similar businesses Discuss
- 7. An example of an on premise establishment is
Options- A. A local pub
- B. A restaurant that sells mixed drinks
- C. Both A & B
- D. None of the above Discuss
- 8. Effective sales management begins with
Options- A. designing a compensation plan
- B. determining sales goals
- C. determining the most efficient structure for the sales force
- D. specifying the sales force size Discuss
- 9. The buying and selling of goods is called
Options- A. Commerce
- B. Telecommunication
- C. Trade
- D. Business Discuss
- 10. Oligopolistic industries are characterized by
Options- A. a few dominant firms and no barriers to entry
- B. a large number of firms and low entry barriers
- C. a few dominant firms and substantial entry barriers
- D. a few dominant firms and low entry barriers Discuss
Business Awareness problems
Search Results
Correct Answer: Control
Explanation:
DMAIC refers to define, measure, analyze, improve, control phases.
Correct Answer: A restriction on when a union may call a strike
Correct Answer: RPG Aventis
Correct Answer: Bechtel
Correct Answer: Malaysia
Correct Answer: create goods that draw consumer attention
Correct Answer: Both A & B
Correct Answer: determining sales goals
Explanation:
Effective sales management begins with determining sales goals. Effective sales management stems from a success-oriented sales force that accomplishes its mission economically and efficiently.
Correct Answer: Trade
Explanation:
The buying and selling of goods is called Trade. Trade is a part of business where goods and services are exchanged for mney and mainly to earn profit. Commerce is used to describe trade and all the other business activities and services which make trade possible like banking, insurance, transport and advertising.
Correct Answer: a few dominant firms and substantial entry barriers
Explanation:
Oligopoly is market structure where a small number of large firms are there. Oligopolistic industries are characterized by a few dominant firms and substantial entry barriers.
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