Description : In a specific strategic market plan, a profit centre that is self-supporting in terms of sales, markets, production, and other resources is known as: A)profit unit. B)strategic business unit. C)marketing unit. D)small business unit.
Answer : B)strategic business unit.
Description : Under which philosophy of marketing, efforts are made to bring down the cost of production to the minimum? a. Production Concept b. Product Concept c. Marketing concept d. Selling Concept
Answer : a. Production Concept
Description : Business includes _____. A. non-economic activities. B. economic activities. C. social activities. D. production activities.
Answer : B. economic activities.
Description : The economic system in which business units or factors of production are privately owned and governed is called as______. A. capitalism. B. socialism. C. democratic. D. republic.
Answer : A. capitalism.
Description : The budget which is dynamic is ___________. a) Flexible budget b) sales budget c) cash budget d) purchase budget
Answer : b) sales budget