September 2025

Why do you think visual merchandising is necessary in the design of a store? Suggest components to be displayed in a particular retailing unit with examples.

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Introduction Visual merchandising is the art and science of presenting products in a retail store in a way that attracts customers and encourages them to buy. It involves designing the store layout, product displays, signage, lighting, and color schemes to create a visually appealing and memorable shopping experience. Visual merchandising plays a crucial role in […]

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What do you understand by sourcing? Describe steps would you intend to adopt in identifying suppliers in a retail unit?

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Introduction Sourcing is a critical function in retail operations. It refers to the process of identifying, evaluating, and selecting suppliers or vendors from whom goods or services are obtained for resale. Efficient sourcing ensures that a retail unit has the right products, at the right time, in the right quantity, and at competitive prices. It

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Distinguish between modern retail formats from traditional retail formats with suitable examples.

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Introduction The retail sector has witnessed tremendous growth and transformation in recent decades. Traditionally, retailing in India and many other countries was done through small, family-owned stores. However, the emergence of technology, globalization, and changing consumer preferences has led to the rise of modern retail formats. This answer highlights the differences between traditional and modern

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Why is it essential to understand consumer behaviour? Explain the factors that influence the consumer behaviour in retailing with examples.

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Introduction Understanding consumer behaviour is vital for the success of any retail business. Consumer behaviour refers to the decision-making process and physical activity involved in evaluating, acquiring, using, and disposing of goods and services. Retailers who understand what customers want, how they think, and why they buy, can design better products, marketing strategies, and store

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What do you understand by the term Retailing? Briefly explain the recent evolving trends in Indian and global retailing.

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Introduction Retailing is a vital part of the business ecosystem. It involves selling goods and services directly to the final consumers for personal or household use. Retailing forms the last step in the distribution process and acts as a bridge between manufacturers or wholesalers and the end consumers. What is Retailing? Retailing is the set

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BECC-101 Introductory Microeconomics – All Assignment Answers with Links (2024-25)

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BECC-101: Introductory Microeconomics Assignment Code: BECC-101/2024-25 Total Marks: 100 Coverage: All Questions Answered 🔗 Click on the questions below to read their full answers: How is Monopoly different from that under Perfect Competition? Explain the long run equilibrium under Monopoly. Give reasons for diminishing returns to scale accruing to a firm in the long run.

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Elucidate the features existing under Oligopolistic market structure

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Introduction Oligopoly is one of the most common forms of market structure found in the real world. It lies between monopoly and perfect competition. In an oligopolistic market, a few large firms dominate the industry, and each firm’s decisions affect the others. This leads to interdependence in pricing and output decisions. In this answer, we

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What is the concept of efficiency in economics? How is the efficient allocation of resources done among firms?

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Introduction Efficiency is a central concept in economics that relates to how well resources are used to produce goods and services. It helps determine whether an economy is making the best possible use of its resources to satisfy human wants. Efficient allocation of resources means that no one can be made better off without making

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What are the policy instruments available for government intervention to regulate inefficient market situations?

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Introduction Markets are generally efficient in allocating resources through the forces of supply and demand. However, in some cases, markets fail to deliver socially desirable outcomes. These failures occur due to reasons like externalities, monopoly power, public goods, or information asymmetry. In such situations, government intervention becomes necessary. This answer explains the key policy instruments

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What is an Income consumption curve? Draw the Income consumption curve for an inferior good.

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Introduction In consumer theory, the Income Consumption Curve (ICC) is an important tool that shows how a consumer’s demand for goods changes as their income changes, keeping prices constant. It helps us understand the relationship between income and consumption patterns. For different types of goods—normal or inferior—the ICC behaves differently. In this answer, we’ll define

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