21.

When a firm aims to underprice competitors and win market share, it is

using a(n) overall cost leadership strategy that requires relatively less
marketing skills as compared to other strategies.

22. When one company licenses another to produce its offerings, or two
companies jointly market their complementary offerings, it is called a
product or service alliance.

23. When Volvo runs ads suggesting that its cars are the safest that money
can buy, it is trying to position its product.

24. Which of the following is a challenge in which business marketers

differ from consumer marketers? geographically concentrated buyers.

25. Which of the following is likely to occur during economic downturns?

The purchasing power of the population declines.

26. Which of the following is the largest contributor to global warming,

contributing almost a quarter of the carbon dioxide in the environment?
electrical power plants

27. Which of the following is true about trends in worldwide population

growth? Population growth is highest in developing countries

28. Which of the new four Ps encompasses the old four Ps as well as a
range of other marketing activities that might not fit well into the old view
of marketing? programs

29. X and Y agree to divide the profits of a business in equal shares but the loss if any, to be
borne by X alone. The partnership agreement is lawful.
30. Complainant means
31.  The conclusive evidence of registration of firms is  The register of firms maintained by the
Registrar of Firm.
32.  The doctrine of indoor management is an Exception  to the doctrine of constructive notice.
33. Debenture Certificate is issued in acknowledgement of any indebtedness
34. Which one of the following know as Consumer disputes redressal  agency?
35.  Contract caused by coercion, undue influence, fraud and misrepresentation are:
36. Promoters conceives the idea of the business
37. An agreement enforceable by law is called Contract.
38. Agent's authority may be: Both (1) and (2)
39. If the bailee, without the consent of the bailor, mixes the goods of the bailor with his own
goods in such a manner that it is impossible to separate the goods bailed from the other goods
and deliver them back, the bailor is entitled to be: Compensated by the bailee for the loss of
the goods
40. The Bailment of goods as security for payment of a debt or performance of a promise is
called: Pledge
41. Who may employ agent? Any person who is of the age of majority according to the law to
which he is subject and who is of sound mind
42. As a general rule minor's agreements are :
43. In which of the following cases, the Firm is not bound by the act of the Partner? Act done fraudulently
or negligently
44. A contract made by lunatic is void in the eye of Law.
45. A minor's estate is liable for the Necessaries supplied to him :
46. Which is correct
1.

proposal + acceptance = promise

2.
promise + consideration = agreement

3.
agreement + enforceability = contract
4.
all the above

answer : all of the above

47.