999. Large complicated simulation models are appreciated because.

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A. Their average costs are not well-defined
B. It is difficult to create the appropriate events
C. It is difficult to create the appropriate events
D. All of the above
✅ The correct answer is option C.
Large complicated simulation models are appreciated because It is difficult to create the appropriate events. A simulation model has ‘entities’ (e.g. machines, materials, people, etc.) and ‘activities’ (e.g. processing, transporting, etc.). It also has a description of the logic governing each activity.

1036. Industrial products are

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A. Purchased for personal consumption
B. Frequently purchased for both their functional aspects and their psychological rewards
C. Traditionally classified according to their characteristics and intended uses.
D. Not purchased by non-business organisations.
✅ The correct answer is option C.
Industrial products are traditionally classified according to their characteristics and intended uses. An industrial product is a good used by a company for business consumption.

1033. First step in decision making process is to

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A. identify problem
B. identify linear variable
C. identify certainty
D. identify multiplier
✅ The correct answer is option A.
First step in decision making process is to identify problem. The first step in making the right decision is recognizing the problem or opportunity and deciding to address it. Determine why this decision will make a difference to your customers or fellow employees.

Direct relationship between price change and interest rate change is represented by

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A. positive duration
B. positive discount
C. negative discount
D. negative duration
✅ The correct answer is option A.
Direct relationship between price change and interest rate change is represented by positive duration. The name for a particular relationship between changes in the price of a debt security and changes in prevailing interest rates. When a security has positive duration, its price increases in response to a decrease in prevailing market rates. Almost all securities have positive duration.

1027. In operating income strategic analysis, strategic component which measures change in operating income, attributed for change in price of outputs and inputs is classified as

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A. internal process component
B. growth component
C. price recovery component
D. productivity component
✅ The correct answer is option C.
In operating income strategic analysis, strategic component which measures change in operating income, attributed for change in price of outputs and inputs is classified as price recovery component. The price-recovery component measures change in output price compared with changes in input prices.

Composite value of traded stocks group of secondary markets is classified as

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A. stock index
B. primary index
C. stock market index
D. limited liability index
✅ The correct answer is option C.
Composite value of traded stocks group of secondary markets is classified as stock market index. A stock index or stock market index is a measurement of a section of the stock market.

1021. Which of the following is not a characteristic of the Internet?

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A. Provides information
B. Facilitates communication
C. Provides competitive advantage
D. Enables electronic trading
✅ The correct answer is option A.
Providing information is not a characteristic of the Internet. The Internet is essentially a decentralized, self-maintained telecom-munications network. It is made up of inter-linking small networks from all parts of the world. It is ubiquitous, borderless, global and ambient in its nature. Hence the term “cyberspace.”

1015. What is the planning gap?

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A. A concept that is used to clarify the extent of revenue or profits gap that might emerge if current strategies are left unchanged
B. The time between the strategic plan being devised and the time it is actually implemented
C. The time between the conception of a strategic plan and the formalization of it
D. Any part of a plan that has not been formalized which allows for flexibility and the introduction of any new developments that could enhance the current strategy
✅ The correct answer is option A.
The planning gap is a concept that is used to clarify the extent of revenue or profits gap that might emerge if current strategies are left unchanged. Gap analysis can identify gaps in the market. Thus, comparing forecast profits to desired profits reveals the planning gap. This represents a goal for new activities in general, and new products in particular. The planning gap can be divided into three main elements: usage gap, existing gap, and product gap.