Commerce Questions and Answers
Test and improve your knowledge of the fundamentals of buying and selling with these Commerce past questions and answers.
Test and improve your knowledge of the fundamentals of buying and selling with these Commerce past questions and answers.
A major function of an entrepreneur is?
decision-making
encouraging competition
human-resource training
motivating employees
Correct answer is A
An entrepreneur is a person who combines the other factors of production - land, labor, and capital - to earn a profit. The major function is taking decisions on how best to combine the production functions for optimal utilization.
Public relations and advertising are similar in terms of?
communicating product information
customer education
the mode of operation
creating a favorable attitude
Correct answer is D
Public relations is the maintenance of a favourable public image by a company or other organization or a famous person.
Advertising is a means of communication with the users of a product or service with the aim of promoting a product or service.
The major objective of advertising and public relations is to create and maintain a good impression of the company's product or service in the eyes of the public.
The controllable variables that a firm uses to achieve its marketing objectives are called?
marketing principles
marketing mix
marketing concepts
marketing functions
Correct answer is B
The marketing mix is the combination of the four controllable variables–product, place, promotion, and price (the four Ps)–people are sometimes added (but that's within HR).
Personal selling is most effective in marketing industrial goods because it involves?
recongnition and attachment to customers
personal interaction and information gathering
demonstrations and product acceptability
after-sales services and product demonstrations
Correct answer is B
No explanation has been provided for this answer.
technological factors
artificial factors
external factors
internal factors
Correct answer is A
The Macro Environment consists of 6 different forces. These forces provide opportunities, but at the same time also pose threats to company. They're Demographic, Economic, Political, Ecological, Socio-Cultural, and Technological forces.