Quiz Space

Business Data Management · Quiz 1 · 19 Jul 2026 · May 2026 term

Question 9: The committee for IIT M BS Cultural Fest Paradox 2027 was…

Question 9

+2 marksOne correct option

The committee for IIT M BS Cultural Fest Paradox 2027 was formed. They decided to order newer hoodies, since there were a lot of student complaints on the product quality of hoodies that was sold earlier. A demand of 2000 hoodies was forecasted based on prior estimates. Each hoodie was to roughly cost 2000 rupees. Brand ASA was chosen as the new supplier. However, they were unable to make the customizations. Each customization (Name, Hoodie Number and IIT M logo) cost 200 rupees/ hoodie. AJB was selected as vendor to customize them. Given the expenses involved a committee was involved that monitored the purchases made. The buying situations here are

  1. A

    New task and straight rebuy

  2. B

    New task and modified rebuy

  3. C

    Modified rebuy and straight rebuy

  4. D

    Modified rebuy and new task

  5. E

    New task and new task

Show answer

Correct answer

  • B

    New task and modified rebuy

See the whole paperTake it as a mock test

Question 9 of 23 in the IIT Madras BS Business Data Management (BDM) Quiz 1 paper sat on 19 Jul 2026, in the May 2026 term (Business Data Management 16 Jul 26). It carries 2 marks.

More questions from this paper

  1. Q1What is the primary definition of 'needs' in economics?
  2. Q2Which of the following best describes the term 'insatiable wants'?
  3. Q3Economics is best described as:
  4. Q4Which of the following is an example of a 'free good' in economics?
  5. Q5Microeconomics focuses on:
  6. Q6Which of the following goods would most likely have inelastic demand?
  7. Q7Amazon prime raises subscription prices and many subscribers cancel. This is an example of:
  8. Q8In which of the below mentioned context is purchase volume is a better yardstick to differentiate than purchase value
  9. Q10If the price of petrol increases by 10% and quantity demanded falls by only 3%, the PED ratio is approximately:
  10. Q11Which of the following correctly distinguishes 'wants' from 'desire' in economics?
  11. Q12Suppose conflict escalates between the US and Iran. This conflict leads to a naval blockade in the Strait of Hormuz, a …
  12. Q13Assume, Apple launches its latest flagship iPhone-17. Simultaneously, two market forces occur: First, a global semicond…
  13. Q14Use the above diagram as your geometric guide for the Question below\ The student-run night canteen at IIT Madras faces…
  14. Q15Which of the following correctly distinguish microeconomics from macroeconomics?\ i) Microeconomics studies the impact …
  15. Q16Agreements and contracts are higher in B2B mainly in comparison to B2C since
  16. Q17A farmer's association argues that 'good news for farming' (a bumper crop/excellent harvest) can sometimes be 'bad news…
  17. Q18Mini Case Study\ The Economics of a Campus Mess: How Price Controls Create Shortages In the IIT Madras campus\ In the I…
  18. Q19Mini Case Study\ The Economics of a Campus Mess: How Price Controls Create Shortages In the IIT Madras campus\ In the I…
  19. Q20Mini Case Study\ The Economics of a Campus Mess: How Price Controls Create Shortages In the IIT Madras campus\ In the I…
  20. Q21Saturn solutions decided to replace their existing computing systems with high-speed computing devices. Their purchase …
  21. Q22The finance department of Saturn solutions had a total budget of 50 lakhs. They wanted a total of 50 laptops. All the v…
  22. Q23The DMU of Saturn solutions now had a tough job to do. They had to select one vendor out of the three choices they had …