12 Assertion (A); Utility and Demand affect the price of a product
Reason (R): utility provided by the product and the intensity of demand of the
buyer sets the upper limit of price.-
Codes
(a) Both A and R are true. R is the correct explanation of A
(b) Both A and R are true, but R is not the correct explanation of A
(c) A is correct, but R is incorrect
(d) A is incorrect, but R is correct
(e) Both A and R are incorrect.
13 Assertion (A) : Government can declare a product as essential product and regulate
its price.
Reason (R): In order to protect the interest of public against unfair practices in the
field of price fixing.
Codes
(a) Both A and R are true. R is the correct explanation of A
(b) Both A and R are true, but R is not the correct explanation of A
(c) A is correct, but R is incorrect
(d) A is incorrect, but R is correct
(e) Both A and R are incorrect.
14 Assertion (A): Grading is the function performed by packaging
Reason (R ): Sometimes marketers assign different grades to indicate different
features or quality of the product.
Codes
(a) Both A and R are true. R is the correct explanation of A
(b) Both A and R are true, but R is not the correct explanation of A
(c) A is correct, but R is incorrect
(d) A is incorrect, but R is correct
(e) Both A and R are incorrect.
15 Assertion (A) : Refrigerator is a convenience product
Reason ( R ) : consumer products, which are purchased frequently, immediately
and with least time and effort are convenience products
Codes
(a) Both A and R are true. R is the correct explanation of A
(b) Both A and R are true, but R is not the correct explanation of A
(c) A is correct, but R is incorrect
(d) A is incorrect, but R is correct
(e) Both A and R are incorrect.
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16 Assertion (A): Trademark is not a part of brand.
Reason (R ) : Trademark does not have legal protection
Codes:
(a) Both A and R are true. R is the correct explanation of A
(b) Both A and R are true, but R is not the correct explanation of A
(c) A is correct, but R is incorrect
(d) A is incorrect, but R is correct
(e) Both A and R are incorrect.
17 Assertion (A) : Packaging helps to maintain Rising Standards of Health and
Sanitation
Reason (R ): The chances of adulteration in packed goods are less.
Codes:
(a) Both A and R are true. R is the correct explanation of A
(b) Both A and R are true, but R is not the correct explanation of A
(c) A is correct, but R is incorrect
(d) A is incorrect, but R is correct
(e) Both A and R are incorrect.
18 Assertion (A): Label Helps in Promotion of Products.
Reason (R ): The label may vary from a simple tag attached to the product to
complex graphics.
Codes:
(a) Both A and R are true. R is the correct explanation of A
(b) Both A and R are true, but R is not the correct explanation of A
(c) A is correct, but R is incorrect
(d) A is incorrect, but R is correct
(e) Both A and R are incorrect
19 Assertion (A): There are broadly three types of costs: Fixed Costs, Variable Costs
and Semi Variable Costs.
Reason (R ) : One of the most important factor affecting price of a product or
service is its cost.
Codes:
(a) Both A and R are true. R is the correct explanation of A
(b) Both A and R are true, but R is not the correct explanation of A
(c) A is correct, but R is incorrect
(d) A is incorrect, but R is correct
(e) Both A and R are incorrect.
20 Assertion (A): A brand name should be suggestive
Reason (R ) : a brand name should hint the qualities of the product
Codes:
(a) Both A and R are true. R is the correct explanation of A
(b) Both A and R are true, but R is not the correct explanation of A
(c) A is correct, but R is incorrect
(d) A is incorrect, but R is correct
(e) Both A and R are incorrect
21 Assertion (A) In inventory control a balance should be maintained in respect
of cost and customer satisfaction.
Reason (R) Higher the level of inventory, the higher will be the level of service to
customers but the cost of carrying the inventory will also be high.
Codes:
(a) Both (A) and (R) are true. R is the correct explanation of A
(b) Both (A) and (R) are true. R is not the correct explanation of A
(c) A is correct but (R) is incorrect
(d) A is incorrect but (R) is correct
22 Assertion (A) Advertising is a very economical mode of communication
Reason (R) Because of its wide reach the overall cost of advertising gets
spread, as a result per unit cost of reach comes low.
Codes:
(a) Both (A) and ( R )are true. R is the correct explanation of A
(b) Both (A) and (R )are true. R is not the correct explanation of A
(c) A is correct but R is incorrect
(d) A is incorrect but R is correct
23 Assertion (A) Maintain good public relations lower the promotion cost
Reason (R) Because of its wide reach the overall cost o gets spread, as a result
per unit cost of reach comes low.
Codes:
(a) Both (A) and (R )are true. R is the correct explanation of A
(b) Both (A) and (R) are true. R is not the correct explanation of A
(c) A is correct but R is incorrect
(d) A is incorrect but R is correct