MGT301 Final Term MCQs by VU Topper RM

Q1. Vu-Topper RM (1 marks)

In which of the following ways is GE like most other large companies? It produces hundreds of products for a wide range of markets. A. It has an entertainment division. B. It has a finance division. C. Most of its business comes from final consumers.

D. Most of its business comes from commercial and

industrial customers. Page 168

Q2. Vu-Topper RM (1 marks)

As a purchasing agent, Benni Lopez buys goods and services for use in the production of products that are sold and supplied to others. Benni is involved in ________. A. Consumer buying behavior B. Post-purchase dissonance

C. Business buyer behavior Page 168

D. Interpretive business research

Q3. Vu-Topper RM (1 marks)

Business buying behavior refers to the buying behavior of organizations that buy all of the following EXCEPT ________. A. Products for use in production of other products B. Products purchased to resell to others C. Products purchased to rent to others

D. Products purchased for personal consumption Page 168

Q4. Vu-Topper RM (1 marks)

In one way or another, most large companies sell to ________. A. Consumers

B. Other organizations Page 168

C. Employees D. Not-for-profit companies

Q5. Vu-Topper RM (1 marks)

When compared to consumer markets, business markets are ________. A. Approximately the same B. Smaller

C. Huge Page 168

D. Somewhat larger

Q6. Vu-Topper RM (1 marks)

Which of the following is NOT a way that business and consumer markets differ?

1. Market structure and demand
2. Nature of the buying unit
3. Satisfaction of needs through purchases Page 169
4. Types of decisions

Correct answer: Satisfaction of needs through purchases Page 169

Q7. Vu-Topper RM (1 marks)

There are many sets of ________ purchases made for each set of ________ purchases. A. Consumer; business B. Tangible; intangible C. Service; product

D. Business; consumer Page 168

Q8. Vu-Topper RM (1 marks)

Hewlett-Packard and Dell buy Intel microprocessor chips because consumers buy personal computers. This demonstrates an economic principle called ________. A. Elastic demand B. Fluctuating demand

C. Derived demand Page 169

D. Joint demand

Q9. Vu-Topper RM (1 marks)

The Pure Drug Company produces insulin, a product with a very stable demand, even though the price has changed several times in the past two years. Insulin is a product with ________ demand. A. Joint B. Service

C. Inelastic Page 169

D. Fluctuating

Q10. Vu-Topper RM (1 marks)

The demand for many business goods and services tends to change more, and more quickly, than the demand for consumer goods and services does. This is referred to as ________ demand.

A. Fluctuating Page 169

B. Derived C. Inelastic D. Elastic

Q11. Vu-Topper RM (1 marks)

Large business purchasers usually call for detailed product specifications, written purchase orders, careful supplier searches, and formal approval. These are all examples of how the business buying decision process is more ________ than the consumer buying decision process is.

A. Formalized Page 170

B. Creative C. Independent D. Concentrated