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1. The International Bank for Reconstruction and Development (IBRD) is better known as
(A) World Bank
(B) Asian Development Bank
(C) IMF
(D) It is known by its name
2. When was the Reserve Bank of India established?
(A) 1935
(B) 1920
(C) 1928
(D) 1947
3. Which is the largest commercial bank in India?
(A) Reserve Bank of India
(B) State Bank of India
(C) ICICI Bank
(D) Bank of India
4. The Bank of Calcutta, Bank of Bombay and Bank of Madras were merged in 1921 to form
(A) Reserve Bank of India
(B) Imperial Bank of India
(C) Bank of India
(D) Union Bank of India
5. Which sister organization of the World Bank helps private activity in developing countries by
financing projects with long-term capital in the form of equity and loans?
(A) Asian Development Bank
(B) IMF
(C) International Developmental Association
(D) International Finance Corporation
6. Which sister organization of the World Bank provides long term loans at zero interest to the
poorest developing countries?
(A) Asian Development Bank
(B) IMF
(C) International Developmental Association
(D) International Finance Corporation
7. Who is known as the ‘Father of Economics’?
(A) Adam Smith
(B) Chanakya
(C) Machiavelli
(D) None of these
8. Which was the first Indian Bank to introduce credit card?
(A) State Bank of India
(B) Central Bank of India
(C) Union Bank of India
(D) ICICI
9. What does devaluation of a currency mean?
(A) decrease in the internal value of money
(B) decrease in the external value of money
(C) decrease both in the external and internal values of money
(D) none of these
10.Which of the following is known as plastic money?
(A) bearer cheques
(B) credit cards
(C) demand drafts
(D) gift cheques
11. Which of the following statements best describes the concept of involvement in the context of
buyer behaviour?
(A) The length of time involved in the buying process
(B) The potential impact of a product on an individual's self-identity
(C) The number of people involved in the decision-making unit
(D) The complexity of an order
12. Buying decisions generally follow a pattern of overlapping stages. Which of the following best
describes the typical stages of the buying process?
(A) Need recognition > Information search > Evaluation > Decision > Post purchase evaluation
(B) Need recognition > Evaluation > Information search > Decision > Post purchase evaluation
(C) Information search > Need recognition > Evaluation > Decision > Post purchase evaluation
(D) Need recognition > Information search > Decision > Evaluation > Post purchase evaluation
13. Needs differ from wants because:
(A) Wants are a socialized manifestation of underlying needs
(B) Needs are a socialized manifest Needs are historical; wants are about the futuretation of underlying
wants
(C) Needs are historical; wants are about the future
(D) Needs and wants are exactly the same
14. Which of the following levels of Maslow's Hierarchy of Needs is most likely to be associated with
consumers' purchase of goods which appeal to their inner sense of peace of mind (e.g. art classes)?
(A) Self-actualization
(B) Love
(C) Security
(D) Physiological
15. An individual is considering buying a new microwave cooker and is faced with the possibility of
several models. Which of the following describes the widest range of microwave cookers, which the
buyer considers in some form?
(A) The choice set
(B) The awareness set
(C) The total set
(D) The pre-evaluation set
16. A company uses The Coors to endorse its range of snack foods. This endorsement is likely to be
particularly effective if the Coors are seen by Large numbers of the company's target market as:
(A) A primary reference group.
(B) A tertiary reference group.
(C) A secondary reference group.
(D) A non-reference group.
17. Which of the following consumer responses is LEAST likely to overcome cognitive dissonance
experienced by a consumer who is dissatisfied with their purchase?
(A) Rationalizing to ourselves that a product is actually quite good
(B) Seeing the product in a different light so that we emphasize the bad aspects of a product
(C) Seeing the product in a different light so that we emphasize the good aspects of a product
(D) Complaining and returning goods to the supplier
18.Which of the following labels is NOT associated with a role in a buying Decision Making Unit?
(A) Supplier
(B) Gatekeeper
(C) Decision maker
(D) User
19. A secretary who answers calls for a company buyer may be taking on which role within the
company's decision-making unit?
(A) User
(B) Influencer
(C) Gatekeeper
(D) Buyer
20. Which of the following is NOT an element of a Marketing Information System?
(A) Marketing research
(B) Decision support system
(C) Production monitoring system
(D) None of these
Question Bank ''Human Resource Management: Test 1'' with interactive revision questions on
a variety of business topics.
Question Bank - Business Studies
(a) A system of giving the authority to carry out certain jobs by those lower down
the management hierarchy.
(b) The system of management that is based on bringing together experts into a
team.
Each department or section are set objectives and this allows all to be
focused on achieving the main corporate goals. Remember when thinking
about 'management by objectives' think about how targets can be used to
monitor performance and objectives need to be reviewed and updated
regularly, else they will become out of date.
(a) authority.
(b) workload.
(c) responsibility.
This is the responsibility of production, who will translate these plans into
people requirements which will be passed to the personnel department.
(d) workers will not give of their best unless they have good social events provided
by the firm.
This is a second order need in the triangle.
(a) paid overtime for any hours worked beyond 25 per week.
Q6. Which of the following will NOT result following the introduction of a more decentralised
system of management?
(c) The development of skills amongst the junior members of the management
team.
Q8. When designing his hierarchy of needs triangle Maslow did NOT include one of these.
Was it?
(b) The need to feel secure at work with adequate financial rewards such as pensions
to assist one later in life.
(d) Opportunities for teamworking and social events that allow a sense of
belonging to emerge.
Again this is central to one of Maslow's needs. This time its Safety, which
also include working conditions.The other needs that Maslow identified
were: Esteem, which in the modern world of work includes positive
feedback and opportunities for promotion and self-actualisation. This
refers to being challenged and seeing just what inner most desires can be
satisfied.
Q9. When deciding on objectives for management it is advised that companies should aim
to achieve 'SMART' within these. Which of the following is NOT part of the SMART scheme?
(d) For personnel to feel capable of reaching objectives they must be Achievable.
Remember that the SMART process centres on Specific,Measurable.
Achievable, Relevant and bound by a specific Time.
Q10. Which of the following is a reason for introducing a matrix management system?
(c) The senior management wants to develop a clearly defined set of responsibilities.
(b) The process of using goals as the best way of motivating managers to achieve
corporate targets/objectives.
Q13. Which of the following is a reason for supporting a wider span of control within an
organisation?
(c) The business accepts that within its management there will be increased contact
between managers and employees.
(d) The distance between the top and bottom of the organisation is greater.
When thinking about narrow spans of control always remember: less
delegation, tighter control, shorter distances between top and bottom of
firm, more contact between managers and employees, greater
opportunities for promotion.
(a) The ability of the chosen manager to control effectively those under
their control.
(b) Designing a complex set of tasks for less senior personnel to perform.
(c) Employees being treated in a more Theory X way (McGregor) and not left to
supervise their own working environment.
(d) The senior management wishing to encourage promotion from within its
current staff.
Remember that effective wider spans of control rely on: expertise of
managers, an ability to control larger number of employees, the ability to
enthuse high levels of motivation within the workforce and the complexity
of the tasks under supervision.
Q16. Which of the following is the best definition of a centralised management system
Q1. Most management teams use 'appraisal' but what is meant by this term?
Q2. In recent years autonomous working groups have come to play an important part
in many businesses. What are their essential features?
(a) The group reports directly to the senior management above them in the
hierarchy of the firm.
(b) The creation of teams which have a high level of autonomy and
control over their immediate working environment.
(c) The bringing together of various individuals who have a common interest
in solving certain problems.
Q3. Authoritarian leadership is a term often seen in textbooks. What does it mean?
Q3. Authoritarian leadership is a term often seen in textbooks. What does it mean?
(a) A style of leadership where the leader keeps a very tight control
on all information and decision-making processes.
(c) A chain of command that is flat and allows considerable personal freedom
to make decisions.
(d) The selling of debts to an agency, who take responsibility for their
collection.
remember that this is a style of leadership that is personality
based, offers quick decisions, involves a one-way communication
process and seldom promotes delegation.
Q2. Which of the following is one of the factors that might influence the style of
leadership used by a firm?
Q3. Which of the following will influence the style of management used by a company?
(a) The desire by the owner to have the workforce treat him in a fatherly way.
(c) The culture of the company, the nature of its work and the
preferences of the individual managers.
(b) A system that encourages workers to move more freely within the
workforce.
(a) The process of attempting to fill gaps that exist in the skills of the current
labour force. (its training definition)
(b) The system of following someone around and noting how they perform
their duties.
(c) The process by which companies fill the need to find new
employees.
Q7. Which of the following is NOT normally a sign of poor morale amongst a
workforce?
Q1. An increase in the rate of interest may reduce the profits of a company because
(c) costs will increase since overdrafts and loans will be more expensive.
(d) it will become more rewarding to invest in new products and projects.
Q2. All of the following are examples of external stakeholders of a company except
(a) shareholders.
(b) suppliers.
(c) customers.
(a) a collapse in the demand for coal, leading to pit closures in South Wales.
(d) collapse of the market for valves after the invention of transistors.
(c) there are many small firms supplying the same product.
(d) there are many branded varieties of the product on the market.
(d) exploiting a patent that the firm has on a product it has developed itself.
(c) market sharing; where a group of firms agree to share a market and fix
prices in their favour.
Q3. The dominant firm in a market is operating at near full capacity, and the other
firms can do little to significantly increase their supply to the market. This will lead to
all of the following, except
(a) rising prices as demand begins to outstrip supply.
Q4. A rise in interest rates, followed by a rise in the exchange rate, will result in all of
the following effects, except
(d) Domestic producers will find it harder to compete against imported goods.
Try some numbers, and then work it out. Assume ER was £1
equivalent to $1 and it rose to £1 equivalent to $2. Assume imports
at $100 and exports at £100. Imports were £100, but change to
£50. Exports, overseas, were $100, but change to $200.
Q5. The business cycle is the regular pattern of upturns and relative downturns in
output and demand within an economy. All of the following can cause this, except
Q2. If the pound increased in value against the dollar what would happen to the price
of exports?
(a) Imports will become more expensive and exports will be less expensive.
(b) An increase in the exchange rate means dearer exports but cheaper
imports.
(c) The exchange is influenced by government action in order to prevent it
changing to an undesirable level.
(d) The government will buy the currency in order to support its value.
When thinking about exchange rates remember to revise the types
i.e. fixed, floating and managed. Also if a currency increases in
value then exports become more expensive and imports less costly.
If the currency falls against others then imports become more
expensive and exports cheaper.
Q3. Rising interest rates can have all but one of the following implications for an
economy. Which one is it?
(c) Potential exporters will see the UK market as one worth selling to.
(d) As the cost of maintaining working capital rises so stocks will need to be
reduced.
(d) The setting of the exchange rate by the forces of the market for currency.
Always make certain you understand how increases and decreases
in REAL interest rates can influence business behaviour and
confidence. Interest rates represent the cost of borrowing money
and so are a key cost to a firm if they are borrowing for expansion
of investment.