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.
The breaking down of a market into separate and identifiable elements is known as
differentiation
segmentation
skimming
penetration
Correct answer is B
Market segmentation is the process of dividing a market of potential customers into groups, or segments, based on different characteristics.
The essential utility derived from the use of a product is known as
augmented benefit
branded benefitcore benefit
formal benefit
formal benefit
Correct answer is C
The fundamental need or want that consumers satisfy by consuming the product or service
Which of the following is used as a pricing policy?
Packaging
Market selection
Labelling
Market skimming
Correct answer is D
Price Skimming. Price skimming is when you have a very high price that makes your product only accessible upmarket.
Price skimming is typically associated with luxury items and only works if you have a product or service that is highly valuable or perceived as highly valuable.
Management of a business involves the development of ideas for the
distribution of goods and services that human wants
transportation of goods and services that human wants
transfer of title of ownership of goodsand services to individuals
production of goods and services that satisfy human needs
Correct answer is D
Management in all business and organizational activities is the act of getting people together to accomplish desired goals and objectives. This is achieved when goods and services reaches the final consumer and satisfy a want.
In a staff-authority relationship, the opinion of a specialist in one department to another is
a directive
an advice
a command
a delegation
Correct answer is B
No explanation has been provided for this answer.