Question 1
Based on the image below, all these entities are called _________?
NOTE: Enter the exact answer without any extra space in the beginning or at the end. Answers Case Sensitive : No
Business Data Management Quiz 1: 15 March 2026 (January 2026 term)
The IIT Madras BS Business Data Management (BDM) Quiz 1 paper sat on 15 Mar 2026, in the January 2026 term: 18 questions for 20 marks in 120 minutes. Every question is below with its answer. Take it as a timed mock test to be marked, or read it through first.
- 18
- 20
- 120 min
- 5
- 11
- 2
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Correct answer: Firm
Question 2
In the economic model, what do firms and households give the government in return for goods, incentives and transfers respectively?
NOTE: Enter the exact answer without any extra space in the beginning or at the end. Answers Case Sensitive : No
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Correct answer: Tax
Question 3
As income increases, the demand for ___________ goods decreases.
NOTE: Enter the exact answer without any extra space in the beginning or at the end. Answers Case Sensitive : No
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Correct answer: inferior
Question 4
For a consumer pyramid survey, if the Primary Sampling Units (PSUs) were the villages and towns of the Census, then what are the Ultimate Sampling Units (USUs) from these PSUs?
NOTE: Enter the exact answer without any extra space in the beginning or at the end. Answers Case Sensitive : No
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Correct answer: household
Question 5
The concept of Quid-Pro-Quo does not usually apply for ________ enterprises.
NOTE: Enter the exact answer without any extra space in the beginning or at the end. Answers Case Sensitive : No
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Correct answer: social
Question 6
To understand market segments, what kind for chart will you use?
Scatter Plot
Pie Chart
Line Chart
Pie of Pie Chart
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Correct answer
Scatter Plot
Question 7
What is the function of the "PivotTable" feature in Excel?
To perform complex calculations on selected data
To generate summary reports from large datasets
To create advanced graphs and charts
To split a worksheet into multiple panes for easier viewing
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Correct answer
To generate summary reports from large datasets
Question 8
Which is an appropriate referencing method, when a formula used in Column D is Constant * Data 1, needs to extend to the next column also. Choose the right formula to be used in Column D?
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Correct answer
Question 9
What does the law of demand state?
As the price of a good increases, the quantity demanded decreases
As the price of a good decreases, the quantity demanded decreases
As the price of a good increases, the quantity supplied decreases
As the price of a good decreases, the quantity supplied increases
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Correct answer
As the price of a good increases, the quantity demanded decreases
Question 10
Which of the following factors is most critical in determining the market potential for a new product ?
The size of the target market and percentage of potential customers interested in the product.
Historical sale data of unrelated products.
Cost of production and distribution.
Current market share of existing products.
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Correct answer
The size of the target market and percentage of potential customers interested in the product.
Question 11
What implication does a bimodal distribution in household transportation expenditure data point to?
Most households spend a similar amount on transportation
There are two distinct groups of households based on transportation spending
Transportation expenditure is evenly distributed across all households
There is a negative correlation between income and transportation spending
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Correct answer
There are two distinct groups of households based on transportation spending
Question 12
Which of the following scenarios can be best expressed through a Bar chart?
Comparing expenditure trends of students
Comparing number of scooter owners, number of bike owners vis-a-vis number of car owners
Showing relationship between temperature and time of the day
Analysing number of hours students study and their scores in exams
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Correct answer
Comparing number of scooter owners, number of bike owners vis-a-vis number of car owners
Question 13
What can be inferred about the relationship between income and the demand for goods with fixed prices? [Select all that apply]
Demand might increase for some goods
Demand might decrease for some goods
Demand will increase for all goods
Demand will decrease for all goods
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Correct answers
Demand might increase for some goods
Demand might decrease for some goods
Question 14
Which of the following conditions can use the concept of "weighted average" to analyse expenditure data?
By considering importance of expenditure categories
By considering the population size of different regions
By adjusting for inflation over time
By analyzing the impact of income levels on expenditure
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Correct answers
By considering importance of expenditure categories
By considering the population size of different regions
Question 15
Based on the sample data below answer the given subquestions.
Determine the percentage change in total revenue when income increases from Rs 15000 to Rs 25000.
41.2%
42%
42.5%
41.8%
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Correct answer
42.5%
Question 16
Based on the sample data below answer the given subquestions.
What is the type of goods based on the given table?
Normal Goods
Inferior Goods
Luxury Goods
None of these
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Correct answer
Normal Goods
Question 17
For an agro business, The ability to grow more vegetables per acre is considered ______ in the porter’s 5 forces model.
supplier power
buyer power
competitive rivalry
threat of substitution
threat of new entry
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Correct answer
supplier power
Question 18
In PESTEL Analysis, what does P and S stand for ?
P – Practical ; S- Scientific
P- Political; S – Social
P – Pragmatic ; S – Structural
P – Profit; S – Sales
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Correct answer
P- Political; S – Social