Merchandising Enterprises Quiz
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Questions and Answers

What is the primary purpose of merchandising enterprises?

  • To acquire merchandise for consumption purpose
  • To purchase merchandise for further processing
  • To purchase merchandise for resale to customers (correct)
  • To acquire merchandise for personal use

Which best describes the role of merchandising?

  • Purchasing merchandise for further processing
  • Purchasing merchandise for resale to customers (correct)
  • Purchasing merchandise for personal use
  • Acquiring merchandise for long-term storage

What is the meaning of 'merchandise' in the context of merchandising enterprises?

  • Items purchased for further processing
  • Items purchased for long-term storage
  • Items purchased for resale to customers (correct)
  • Items purchased for personal consumption

What is the main focus of merchandising enterprises?

<p>Buying merchandise for resale purpose (D)</p> Signup and view all the answers

What does the term 'merchandise' refer to in the context of merchandising enterprises?

<p>Items purchased for resale to customers (D)</p> Signup and view all the answers

Which type of business is not characteristic of a merchandising enterprise?

<p>Manufacturing business (C)</p> Signup and view all the answers

Explain the Addition Rule and provide an example of its application.

<p>The Addition Rule states that if there are k procedures, each of which can be done in n1, n2, ..., nk ways, then the total number of ways of performing one of the procedures is n1 + n2 + ... + nk, provided that no two procedures can be performed at the same time or one after the other. Example: There are 2 bus and 3 train routes from city X to city Y. In how many ways can a person go from city X to city Y? The total number of ways is 2 + 3 = 5.</p> Signup and view all the answers

Explain the Multiplication Rule and provide an example of its application.

<p>The Multiplication Rule states that if a choice consists of k steps, each of which can be done in n1, n2, ..., nk ways, then the whole choice can be made in n1 * n2 * ... * nk ways. Example: There are 2 bus routes from city X to city Y and 3 train routes from city Y to city Z. In how many ways can a person go from city X to city Z? The total number of ways is 2 * 3 = 6.</p> Signup and view all the answers

Define Permutation and explain Permutation Rule 1 with an example.

<p>Permutation is the arrangement of objects in a specified order. Permutation Rule 1 states that the number of permutations of n distinct objects taken all together is n!. Where n! = n * (n - 1) * (n - 2) * ... * 3 * 2 * 1. Example: If there are 5 distinct objects, the number of permutations is 5! = 5 * 4 * 3 * 2 * 1 = 120.</p> Signup and view all the answers

What is the purpose of counting techniques in mathematics?

<p>Counting techniques are used to determine the number of possible ways of arranging or ordering objects, and to find solutions for sample spaces with a large number of outcomes.</p> Signup and view all the answers

List the rules of counting techniques.

<p>The rules of counting techniques are: 1. Addition Rule 2. Multiplication Rule 3. Permutation Rule 4. Combination Rule</p> Signup and view all the answers

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