Business Studies Test Essay

Submitted By dollyburcin
Words: 2699
Pages: 11

1.
One advantage of trend analysis is that it is easy to gather information on which to base it. Student Response Value Correct Answer Feedback
A. True
B. False Student Response
Score: 0/3.8 2.
The Consumer Protection Act (1987) provides a remedy in damages for anyone who suffers personal injury or damage to property as a result of a defective product. Student Response Value Correct Answer Feedback
Student Response A. True 100% Student Response
B. False
Score: 3.3/3.3 3.
Which of the following is NOT a requirement for a perfectly competitive market? Student Response Value Correct Answer Feedback
A. there is a large number of buyers and sellers
Student Response B. there is freedom of entry to the market 0% @ No. See Chapter 11.
C. products are tailored to the needs of individual buyers Student Response
D. there is freedom of exit from the market
Score: 0/3.3

4.
An offer must be distinguished from a mere invitation to make offers. The latter is referred to as: Student Response Value Correct Answer Feedback
A. invitation to treat Student Response
B. request for information
C. intention to create legal relations
D. application for service
Score: 0/3.3 5.
An oligopsony is defined as a market where Student Response Value Correct Answer Feedback
A. one firm or group of firms controls over 25% of the market
B. firms act in collusion to control the market
C. there are few buyers but many sellers Student Response
D. there is only one supplier of a product
Score: 0/3.3 6.
A scale monopoly occurs where one firm controls 100 % of the value of a market. Student Response Value Correct Answer Feedback
A. True
B. False Student Response
Score: 0/3.3

7.
Technology has allowed more precise targeting of communication to customers Student Response Value Correct Answer Feedback
A. True Student Response
B. False
Score: 0/3.3 8.
If a company does not restructure itself as it grows, diseconomies of scale may set in Student Response Value Correct Answer Feedback
A. True Student Response
B. False
Score: 0/3.3 9.
The concept of elasticity cannot be applied to supply. Student Response Value Correct Answer Feedback
A. True
B. False Student Response
Score: 0/3.3 10.
The political environment of an organisation is very closely related to its legal environment. Student Response Value Correct Answer Feedback
A. True Student Response
B. False
Score: 0/3.3 11.
Most commercial organizations use a combination approaches to organize their activities. Student Response Value Correct Answer Feedback
A. True Student Response
B. False
Score: 0/3.3 12.
The ’cellular household’: Student Response Value Correct Answer Feedback
A. is a consequence of new product developments
B. has led to the development of new products
C. is both a cause and consequence of new product development Student Response
D. None of the above
Score: 0/3.3

13.
Intermediaries are most closely associated with the concept of: Student Response Value Correct Answer Feedback
A. marketing information systems
B. market targeting
C. channels of distribution Student Response
D. market segmentation
Score: 0/3.3

14.
Choosing a suitable brand name is an important, but often difficult, part of the process that creates a strong and distinctive brand. Which of the following statements about choosing a name for a new soft drink is untrue? Student Response Value Correct Answer Feedback
A. The name should be memorable and easy to pronounce
B. The brand name must be modern and contemporary…