A set of interdependent organizations involved in the process of making a product or service available for use or consumption by the consumer or business user is called a(n) ?

Related Mcqs:

1. A company is in the ________ stage of the new product development process when the company develops the product concept into a physical product in order to assure that the product idea can be turned into a workable product ?

   A. product development
   B. commercialization
   C. marketing strategy
   D. business analysis

2. Refer to Exhibit 4. Suppose that the consumer must choose between buying socks and belts Also suppose that the consumer’s income is €100 If the price of a belt is €10 and the price of a pair of socks is €5, the consumer will choose to buy the commodity bundle represented b point ?

   A. Z
   B. X
   C. Y
   D. the optimal point cannot be determined from this graph

3. A linear consumption function with a positive slope less than one means that if income increases consumption will ?

   A. fall
   B. not change
   C. fluctuate
   D. increase

4. If the Keynesian consumption function is C = 10 + 0.8 Td when disposable income is Rs1000 total consumption is what ?

   A. 0.8
   B. 800
   C. 810
   D. 0.81

5. If the consumption of good by one person does not reduce the quantity available by others and nobody can be easily excluded from consumption, we are referring to a ?

   A. Private good
   B. merit good
   C. public good
   D. abundant good

6. With whom would you associate the following quote” The business of business is business” ?

   A. Milton Friedman
   B. Adam smith
   C. Alfred Marshal
   D. Karl Marx

7. _________ are products bought by individuals and organizations for further processing or for use in conducting a business?

   A. Consumer products
   B. Services
   C. Industrial products
   D. Specialty products

8. What is called increased demand for a limited supply of goods and service result of which is increase in consumer prices ?

   A. Demand push
   B. Demand pulls
   C. Cost pull
   D. Demand supply

9. R&D and engineering first produce the product concept into a physical product during which of the following stages of the new product development process ?

   A. Concept development and testing
   B. Marketing strategy
   C. Business analysis
   D. Product development

10. If the total product of two workers is 80 and the total product of 3 workers is 90 then the average product of the third worker is ________ and the marginal product of the third worker is _________?

    A. 160; 270
    B. 10; 30
    C. 10; 3.33
    D. 30; 10