Business Environment

311. How can a marketer use the age distribution of the population in a market?

  1. the marketer can use it to identify the purchasing power of the population in each country
  2. the marketer can use it to identify the potential number of customers in various age groups
  3. the marketer can use it to identify behavioural patterns within each age group
  4. the marketer can use it to identify lifestyle patterns within various age groups
Correct answer: (B)
the marketer can use it to identify the potential number of customers in various age groups

312. The idea that consumers are in charge of the economic system because their preferences drive business decisions about what to produce is referred to as

  1. consumer activism
  2. consumer sovereignty
  3. consumerism
  4. consumer therapy
Correct answer: (B)
consumer sovereignty

313. The taking over of a private firm by the host country government to be run it as a government unit is

  1. expropriation
  2. confiscation
  3. nationalization
  4. domestication
Correct answer: (C)
nationalization

314. A entitlement establishing a firm that is jointly owned by two or more otherwise independent firms ______________.

  1. franchising
  2. licensing
  3. joint venture
  4. strategic alliances
Correct answer: (C)
joint venture

315. The social guidelines and rules that prescribe appropriate behavior in particular situation is ______________.

  1. norms
  2. values
  3. attitude
  4. belief
Correct answer: (A)
norms

316. Case law is the other name for ______________.

  1. code law
  2. common law
  3. civil law
  4. criminal law
Correct answer: (B)
common law

317. What is the growth rate of the industrial output in the last four decades?

  1. 4.5 % per annum
  2. 5 % annum
  3. 6 % per annum
  4. 5.5 % per annum
Correct answer: (D)
5.5 % per annum

318. When was the first Five year Plan?

  1. 1950
  2. 1951
  3. 1952
  4. 1953
Correct answer: (B)
1951

319. SWOT should be ______________.

  1. A general list of issues under each heading
  2. Focused on key issues and as specific as possible
  3. Completed when an analysis of the external environment has been conducted
  4. SWOT analysis is the best strategic management framework for analysing the competitive positioning of an organization
Correct answer: (B)
Focused on key issues and as specific as possible

320. An organisational field is a ______________.

  1. Definition of the competitive structure of an industry
  2. Set of assumptions held in common within an industry
  3. Set of benchmarks which organisations should achieve in order to be successful
  4. Community of organisations with a common meaning system and which interact more frequently with each other than with those outside the field
Correct answer: (D)
Community of organisations with a common meaning system and which interact more frequently with each other than with those outside the field
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