Resource Management and Consumer Issues Questions and Answers

Q: Those who often initiate the buying proposal are :

The buying proposal is often initiated by users.In the buying-centre model, roles include initiators, users, influencers, deciders, buyers and gatekeepers. Users, the people who will actually use the product, are often the ones who first feel the need and propose the purchase.Deciders have the authority to make the final choice, buyers carry out the formal purchase, and sellers are on the other side of the transaction, so none of them typically starts the proposal.

Q: Which is the source for assessing training needs ?

Training needs are assessed from performance evaluation.Training need analysis looks for the gap between the performance required and the performance achieved. Performance appraisal records show where employees fall short in knowledge, skills or attitudes, so they are a main source for identifying needs.Simulation, case study and role play are training methods, used to deliver training once the needs are known, not sources for assessing them.

Q: Peer performance appraisal is carried out by :

Peer appraisal is carried out by fellow employees.Peers are colleagues at the same level who work with the person and see day-to-day behaviour such as teamwork, cooperation and reliability. Peer ratings are often part of 360-degree appraisal.Appraisal by an immediate supervisor or a manager is the traditional top-down method, and appraisal by customers is customer or client appraisal; neither is peer appraisal.

Q: The example of money income is :

An example of money income is profit received from shares.Money income is the flow of money coming to a family in a period: wages, salary, rent received, interest, dividends and profits.A teacher teaching her own child and using fruit and vegetables from one's garden are examples of direct (real) income, goods and services obtained without money. Rent paid to a landlord is an expenditure, not income.

Q: The full form of PAN is :

PAN stands for Permanent Account Number.It is a ten-character alphanumeric identifier issued by the Income Tax Department of India under the Income Tax Act, 1961. It stays the same for life, and is used to track tax payments and high-value financial transactions.'Permanent' is the key word, because the number never changes, so 'previous' or 'present' account number are wrong. 'Permanent Accreditated Number' is not a real expansion of the abbreviation.

Q: The heat that is trapped inside the earth is known as :

Heat trapped inside the earth is geothermal energy.The word comes from the Greek geo (earth) and therme (heat). The heat comes from the earth's formation and from radioactive decay in rocks, and it reaches the surface in hot springs, geysers and volcanic areas, where it can be used to generate electricity or heat buildings.Thermal energy is the general term for heat of any origin, and mechanical and kinetic energy relate to motion and position, so they do not name the earth's internal heat.

Q: The materialistic concept of management emphasizes :

The materialistic concept of management emphasises physical benefits.Home management texts contrast a materialistic concept, which judges management by the physical and material results it produces (goods, money, comforts, tangible outputs), with a humanistic concept, which puts people, relationships and values at the centre.Mutual relations, human resources and individual values are the concerns of the humanistic view, so they describe the opposite emphasis.

Q: The step of management process that consists of dividing and grouping activities and assigning them to individuals is :

This step is organising.In the management process (planning, organising, implementing or directing, controlling, evaluating), organising means dividing the work into activities, grouping them, assigning them to individuals and arranging resources and authority so that the plan can be carried out.Planning decides what is to be done and how, controlling checks progress against the plan and corrects it, and delegating is passing authority for a task to someone else, which is only one part of organising.

Q: A period during which activity pile up on each other at certain times is called :

Such a period is called peak load.Peak load is the time when many activities pile up together and the demands on time and energy are highest, for instance the morning rush in a home when breakfast, lunch boxes and getting children to school all fall together. Recognising peak loads helps in planning time and dovetailing tasks.Time norms are the standard time needed for tasks, and a work curve shows how output changes over a work period. 'Peak periods' is not the technical term used in time management texts.

41.

Those who often initiate the buying proposal are :

A.Buyers
B.Deciders
C.Sellers
D.Users

Exam Year(s)

MH SET - 2020, SET Exam - 2020,

Answer: D

The buying proposal is often initiated by users.

In the buying-centre model, roles include initiators, users, influencers, deciders, buyers and gatekeepers. Users, the people who will actually use the product, are often the ones who first feel the need and propose the purchase.

Deciders have the authority to make the final choice, buyers carry out the formal purchase, and sellers are on the other side of the transaction, so none of them typically starts the proposal.

Discuss in Forum

42.

Which is the source for assessing training needs ?

A.Performance evaluation
B.Simulation
C.Case study
D.Role play

Exam Year(s)

MH SET - 2020, SET Exam - 2020,

Answer: A

Training needs are assessed from performance evaluation.

Training need analysis looks for the gap between the performance required and the performance achieved. Performance appraisal records show where employees fall short in knowledge, skills or attitudes, so they are a main source for identifying needs.

Simulation, case study and role play are training methods, used to deliver training once the needs are known, not sources for assessing them.

Discuss in Forum

43.

Peer performance appraisal is carried out by :

A.Immediate supervisor
B.Manager
C.Fellow employees
D.Customers

Exam Year(s)

MH SET - 2020, SET Exam - 2020,

Answer: C

Peer appraisal is carried out by fellow employees.

Peers are colleagues at the same level who work with the person and see day-to-day behaviour such as teamwork, cooperation and reliability. Peer ratings are often part of 360-degree appraisal.

Appraisal by an immediate supervisor or a manager is the traditional top-down method, and appraisal by customers is customer or client appraisal; neither is peer appraisal.

Discuss in Forum

44.

The example of money income is :

A.Teacher teaching own child
B.Profit received from shares
C.Rent paid to the landlord
D.Using fruits and vegetables from one's garden

Exam Year(s)

MH SET - 2020, SET Exam - 2020,

Answer: B

An example of money income is profit received from shares.

Money income is the flow of money coming to a family in a period: wages, salary, rent received, interest, dividends and profits.

A teacher teaching her own child and using fruit and vegetables from one's garden are examples of direct (real) income, goods and services obtained without money. Rent paid to a landlord is an expenditure, not income.

Discuss in Forum

45.

The full form of PAN is :

A.Previous Account Number
B.Present Account Number
C.Permanent Account Number
D.Permanent Accreditated Number

Exam Year(s)

MH SET - 2020, SET Exam - 2020,

Answer: C

PAN stands for Permanent Account Number.

It is a ten-character alphanumeric identifier issued by the Income Tax Department of India under the Income Tax Act, 1961. It stays the same for life, and is used to track tax payments and high-value financial transactions.

'Permanent' is the key word, because the number never changes, so 'previous' or 'present' account number are wrong. 'Permanent Accreditated Number' is not a real expansion of the abbreviation.

Discuss in Forum

46.

The heat that is trapped inside the earth is known as :

A.Thermal energy
B.Mechanical energy
C.Kinetic energy
D.Geothermal energy

Exam Year(s)

MH SET - 2020, SET Exam - 2020,

Answer: D

Heat trapped inside the earth is geothermal energy.

The word comes from the Greek geo (earth) and therme (heat). The heat comes from the earth's formation and from radioactive decay in rocks, and it reaches the surface in hot springs, geysers and volcanic areas, where it can be used to generate electricity or heat buildings.

Thermal energy is the general term for heat of any origin, and mechanical and kinetic energy relate to motion and position, so they do not name the earth's internal heat.

Discuss in Forum

47.

The materialistic concept of management emphasizes :

A.Physical benefits
B.Mutual relations
C.Human resources
D.Individual values

Exam Year(s)

MH SET - 2021, SET Exam - 2021,

Answer: A

The materialistic concept of management emphasises physical benefits.

Home management texts contrast a materialistic concept, which judges management by the physical and material results it produces (goods, money, comforts, tangible outputs), with a humanistic concept, which puts people, relationships and values at the centre.

Mutual relations, human resources and individual values are the concerns of the humanistic view, so they describe the opposite emphasis.

Discuss in Forum

48.

The step of management process that consists of dividing and grouping activities and assigning them to individuals is :

A.Controlling
B.Planning
C.Delegating
D.Organising

Exam Year(s)

MH SET - 2021, SET Exam - 2021,

Answer: D

This step is organising.

In the management process (planning, organising, implementing or directing, controlling, evaluating), organising means dividing the work into activities, grouping them, assigning them to individuals and arranging resources and authority so that the plan can be carried out.

Planning decides what is to be done and how, controlling checks progress against the plan and corrects it, and delegating is passing authority for a task to someone else, which is only one part of organising.

Discuss in Forum

49.

According to systems approach, management is a continuous system having :

A.Inputs, process and outputs
B.Values and goals
C.Number of standards
D.Human resources to be managed

Exam Year(s)

MH SET - 2021, SET Exam - 2021,

Answer: A

In the systems approach, management is a continuous system of inputs, process and outputs.

The systems approach, applied to family resource management by Deacon and Firebaugh, sees management as converting inputs (demands and resources) through a throughput or process (planning and implementing) into outputs (met demands and used resources), with feedback returning to the system as new input. That cycle is what makes it continuous.

Values and goals, standards and human resources are elements within the system, not the structure of the system itself.

Discuss in Forum

50.

A period during which activity pile up on each other at certain times is called :

A.Time norms
B.Work curve
C.Peak load
D.Peak periods

Exam Year(s)

MH SET - 2021, SET Exam - 2021,

Answer: C

Such a period is called peak load.

Peak load is the time when many activities pile up together and the demands on time and energy are highest, for instance the morning rush in a home when breakfast, lunch boxes and getting children to school all fall together. Recognising peak loads helps in planning time and dovetailing tasks.

Time norms are the standard time needed for tasks, and a work curve shows how output changes over a work period. 'Peak periods' is not the technical term used in time management texts.

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