CIPS L3M1 Exam Dumps

The primary objective of private sector is to create profit(s).

While the other answers may occur in private sector, they are not the primary objective.

The x-axis shows time. For some products, it may represent a year; for others, a century.

The other answers given could all be shown on the y-axis of the PLC, depending on circumstances.

There is an expression 'painshare' which is an almost-ironic term referring to the opposite of the situ-ation described in the QUESTION NO : - when something has gone wrong, and the additional cost must be shared between the parties. The other two answers are a little bit facetious.

The correct answer is 'gainshare' when the parties share benefits, according to a pre-agreed ratio or formula.

Equilibrium price as demand and supply are perfectly balanced.

Equivalium is a made-up word. When I was studying for my MCIPS back in the 1980's it was a re-quirement to undertake a research study. My research was into the monopolistic supply of valium and librium to the UK's National Health Service by a Swiss company called Hofmann la Roche. That research endeared me neither to branded drugs, nor, possibly unfairly, to multinationals.

The likely choice of answers for people who don't know the correct answer is probably between 'equilibrium' and 'clearing'. Clearing would be a logical choice, but it's not the one your assessor re-quires.

A local independent supermarket would be a private sector organisation - that is one intended to make a profit. The others suggested here would all be not-for-profit.

Public sector organisations, although not created to make a profit, are generally referred to as 'public sector' - often funded from taxation - with 'not-for-profit' often being funded from members, do-nors, or other voluntary sources.