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4610 EXAM 2 Questions with complete solution 2024 £10.53
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Exam (elaborations)

4610 EXAM 2 Questions with complete solution 2024

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  • BCIS 4610

4610 EXAM 2 Questions with complete solution EXAM 2 ways value is added in the market - correct answer place value time value form value information value source value primary market - correct answer -basic source of supply - sets prices and quality standards secondary market...

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  • September 3, 2024
  • 10
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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  • 4610 exam 2
  • 4610 exam 2 questions with complete solution 2024

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  • BCIS 4610
  • BCIS 4610

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4610 EXAM 2
ways value is added in the market - correct answer ✔place value
time value
form value
information value
source value


primary market - correct answer ✔-basic source of supply
- sets prices and quality standards


secondary market - correct answer ✔-physical functional unit where products
are accepted from the primary markets and distributed to local buyers


local market - correct answer ✔-suppliers within close proximity to the buyer
-its cheaper to buy in bulk
-some chain places are prohibited going to the local store bc they have to buy
it from the supplier


market function - correct answer ✔- exchange of commodities
-supply information pertaining to all aspects of commodities
-physical supply of commodities, they have the supply you need
-general business rules and laws pertaining to commodities


distributor - correct answer ✔-provide services above and beyond delivery at
no additional cost to maintain customers (wait staff training)
-has fewer steps to go through (less mistakes are made)

, broker - correct answer ✔-do not take title of the goods being sold
-receive a commission for negotiating between the buyer and the supplier
- a broker knows what you need and finds a way to get it


manufacturer's representative - correct answer ✔-do not take title, bill, or set
process and often represent small manufacturing companies
-companies pay a flat commission on sales volume


retailer - correct answer ✔-sell products to customers
-grocery store (more expensive and more time bc you have to pick it out)


factors affecting food prices - correct answer ✔Adverse growing conditions
Unusual consumer demand
Seasonal variations
Government policy
Economic trends (prices right now are going up bc the supply chain has been
slowed so the goods are harder to come by)


skills needs for buyers - correct answer ✔- Interpersonal communication
- Customer focus
- Ability to make decisions
- Negotiation
- Analytical ability - if I buy all this now will it go before it goes out
- Managing change
- Conflict resolution - maybe your bought something from a local buyer and it
is lower quality than what you planned for

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