Question : The decision-making unit of a buying organization is called its ____________ all the people and entities involved in the business decision-making process.
Option 1: Purchasing center
Option 2: Bidding center
Option 3: Buying center
Option 4: Demand-supply center
Correct Answer: Buying center
Solution : The term "buying centers" describes the teams of individuals, either inside or outside a firm, who have some degree of control over the purchasing process. It is also called the decision-making unit. It brings together "all those organizational members who get involved in the purchasing process for a specific good or service. Hence option c is the correct answer.
Question : Case Study 28: XYZ Corporation
XYZ Corporation, a multinational company, is looking to implement decentralization to enhance its decision-making process.
Question:
Decentralization involves:
Option 1: Concentrating decision-making at the top
Option 2: Distributing decision-making throughout the organization
Option 3: Eliminating cross-functional teams
Option 4: Reducing employee empowerment
Question : Demand in economics means:
Option 1: aggregate demand
Option 2: market demand
Option 3: individual demand
Option 4: demand backed by purchasing power
Question : Equilibrium price is the price when :
Option 1: Supply is greater than demand .
Option 2: Supply is less than demand .
Option 3: Demand is very high .
Option 4: Supply is equal to demand.
Question : Case Study 79: XYZ Corporation
Decentralization aims to:
Option 1: Concentrate decision-making at the top
Option 2: Distribute decision-making throughout the organization
Option 3: Limit cross-functional collaboration
Option 4: Reduce employee empowerment
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