BUSINESS STUDIES
(Term 1)
1. At times, a business may concentrate on producing goods with fewer resources but cannot achieve the targeted production. In such a case, the business is said to be :
(a) Effective but not efficient
(b) Efficient but not effective
(c) Both effective and efficient
(d) Neither effective nor efficient.
2. The process that initiates implementation of plans by clarifying jobs, working relationships and effectively deploying resources for the attainment of identified and desired results is called:
(a) Coordination
(b) Management
(c) Organising
(d) Delegation
3. Which Marketing management philosophy emphasizes continuous improvement in the quality of the product?
(a) Production concept
(b) Product concept
(c) Marketing concept
(d) Social marketing concept
4. The objective of which of the following techniques of management is to determine the number of workers to be employed in an organization?
(a) Method study
(b) Motion study
(c) Time study
(d) Differential piece wage system
5. Which of the following is an element of the political environment?
(a) Existing structure of the economy in terms of the relative role of private and public sectors.
(b) Rise in the disposable income of people due to an increase in the gross domestic product of a country.
(c) Legislation passed by the Government authorities.
(d) Attitude of the elected Government representatives towards business.
6. The function of marketing that involves the physical movement of goods from one place to another is called :
(a) Promotion
(b) Transportation
(c) Storage and Warehousing
(d) Customer support services
7. Identify the principle of management given by Fayol according to which “This principle intends to produce more and better work with the same effort.
(a) Division of work
(b) Unity of direction
(c) Scalar chain
(d) Equity
8. Which product-related decision is concerned with providing detailed information about the product on its package?
(a) Branding
(b) Packaging
(c) Labeling
(d) Both Branding and Packaging
9. Which step in the process of ‘Planning’ function of management weighing pros and cons of each alternative?
(a) Developing Premises
(b) Identifying alternative courses of action
(c) Evaluating alternative courses
(d) Selecting an alternative
10. The element of delegation which relates to the obligation of a subordinate to properly perform the assigned duty is known as:
(a) Authority
(b) Responsibility
(c) Accountability
(d) Centralisation
11. The type of organizational structure in which jobs of similar nature are grouped on the basis of functions to form departments is called :
(a) Functional structure
(b) Divisional structure
(c) Informal structure
(d) Grouped structure
12. Which of the following statements correctly explains the limitation of planning ‘Planning does not guarantee success?
(a) Planning is required at all levels of management and in all the departments of the organization.
(b) Planning involves thorough examination and evaluation of available alternatives.
(c) Relying on a previously tried and tested successful plan just because it had worked before and will work again.
(d) By deciding in advance the tasks to be performed, planning shows the way to deal with changes and uncertain events.
13. “Product Cost’ as a factor affecting price determination of a product includes:
(a) Cost of producing, distributing and selling the product.
(b) Utility provided by the product.
(c) Nature and degree of competition.
(d) Maximising profit in the short run.
14. The concept of Mental Revolution’, as prescribed by Taylor, in changes in the mindset of:
(a) Workers towards the management.
(b) Management towards the workers.
(c) Workers, and management towards one another from competition to
cooperation.
(d) Customers towards the management of the organization.
15. The element of marketing mix by which marketers make use of various tools of communication to encourage the exchange of goods and services in the market is called :
(a) Branding
(b) Promotion
(c) Physical Distribution
(d) Price
16. ‘Planning is an intellectual activity of thinking rather than doing. Which feature of planning is highlighted in this statement?
(a) Planning focuses on achieving objectives.
(b) Planning is futuristic.
(c) Planning involves decision making.
(d) Planning is a mental exercise.
17. Which of the following activities is not considered to be part of customer support services? (a) After-sales services,
(b) Handling customer complaints and adjustments.
(c) Procuring credit services.
(d) Identifying the needs of the customers and taking various marketing decisions
18. ‘This principle will give rise to a spirit of mutual trust and belongingness among team members.’ Which principle of management stated by Fayol is highlighted by this statement?
(a) Initiative
(b) Esprit de Corps
(c) Equity
(d) Remuneration of Employees
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