COMMERCE QUEST

Full form of WTO

• To create awareness, generate interest, and drive sales.

• To increase employee satisfaction

• Wto

Define the term 'e-commerce'.

• The process of emailing coupons to customers

• The buying and selling of goods or services over the internet.

• The act of physically exchanging goods in a store

• A type of social media platform

Explain the concept of supply chain management.

• Supply chain management involves only the movement of finished goods.

• Supply chain management is the management of the flow of information only.

• Supply chain management is the management of the flow of goods and services, involving the movement and storage of raw materials, work-in-process inventory, and finished goods from point of origin to point of consumption.

• Supply chain management is focused solely on the storage of raw materials.

What is the difference between a wholesaler and a retailer?

• Wholesalers only sell to businesses, while retailers sell to individuals

• The difference lies in the location of the business

• Retailers buy goods in bulk, while wholesalers buy in small quantities

• The main difference is in the quantity of goods sold and the target customer.

Discuss the importance of branding in business.

• Branding is important in business for creating a unique identity, building trust, differentiation, increasing loyalty, premium pricing, and new product introductions.

• Branding has no impact on customer loyalty

• Branding is irrelevant in business

• Branding leads to customer confusion

What are the key components of a business plan?

• Executive summary, Company description, Market analysis, Organization and management, Product line or service, Marketing and sales, Funding request, Financial projections, Appendix

• SWOT analysis, Competitive landscape, Industry trends

• Company vision, Employee handbook, Customer testimonials

• Legal documents, Employee benefits, Office layout

Describe the role of human resources in a company.

• Human resources manage marketing strategies

• Human resources manage employee relations, recruitment, training, benefits, and ensure compliance with labor laws.

• Human resources focus on financial analysis

• Human resources oversee product development

What is the significance of market research?

• Market research is significant as it provides valuable insights into consumer preferences, market demand, and competitive landscape.

• Market research is only useful for small businesses and not larger corporations.

• Market research only focuses on internal operations and not consumer preferences.

• Market research is insignificant and a waste of resources.

Explain the concept of inflation and its impact on the economy.

• Inflation is the rate at which the general level of prices for goods and services is rising, leading to a decrease in the purchasing power of a currency. It impacts the economy by reducing the value of money, increasing the cost of living, affecting investments, and potentially leading to economic instability.

• Inflation is the rate at which the general level of prices for goods and services is decreasing, leading to an increase in the purchasing power of a currency.

• Inflation has no impact on the economy and is a neutral economic factor.

• Inflation only affects specific industries and does not have a widespread impact on the economy.

Discuss the difference between fixed costs and variable costs.

• Fixed costs do not change with the level of production or sales, while variable costs do change.

• Variable costs remain constant, while fixed costs fluctuate.

• Fixed costs are incurred only in the short term, while variable costs are long-term expenses.

• Fixed costs are directly related to production levels, while variable costs are not.