Quiz Space

Business Data Management · Quiz 1 · 15 Mar 2026 · January 2026 term

Question 16: What is the type of goods based on the given table?

Question 16

+1 markOne correct option

Based on the sample data below answer the given subquestions.

What is the type of goods based on the given table?

  1. A

    Normal Goods

  2. B

    Inferior Goods

  3. C

    Luxury Goods

  4. D

    None of these

Show answer

Correct answer

  • A

    Normal Goods

See the whole paperTake it as a mock test

Question 16 of 18 in the IIT Madras BS Business Data Management (BDM) Quiz 1 paper sat on 15 Mar 2026, in the January 2026 term (Business Data Management 15 Mar 26). It carries 1 mark.

More questions from this paper

  1. Q1Based on the image below, all these entities are called _? NOTE: Enter the exact answer without any extra space in the …
  2. Q2In the economic model, what do firms and households give the government in return for goods, incentives and transfers r…
  3. Q3As income increases, the demand for _ goods decreases.\ NOTE: Enter the exact answer without any extra space in the beg…
  4. Q4For a consumer pyramid survey, if the Primary Sampling Units (PSUs) were the villages and towns of the Census, then wha…
  5. Q5The concept of Quid-Pro-Quo does not usually apply for enterprises.\ NOTE: Enter the exact answer without any extra spa…
  6. Q6To understand market segments, what kind for chart will you use?
  7. Q7What is the function of the "PivotTable" feature in Excel?
  8. Q8Which is an appropriate referencing method, when a formula used in Column D is Constant Data 1, needs to extend to the …
  9. Q9What does the law of demand state?
  10. Q10Which of the following factors is most critical in determining the market potential for a new product ?
  11. Q11What implication does a bimodal distribution in household transportation expenditure data point to?
  12. Q12Which of the following scenarios can be best expressed through a Bar chart?
  13. Q13What can be inferred about the relationship between income and the demand for goods with fixed prices? [Select all that…
  14. Q14Which of the following conditions can use the concept of "weighted average" to analyse expenditure data?
  15. Q15Determine the percentage change in total revenue when income increases from Rs 15000 to Rs 25000.
  16. Q17For an agro business, The ability to grow more vegetables per acre is considered in the porter’s 5 forces model.
  17. Q18In PESTEL Analysis, what does P and S stand for ?