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Varsity College BCOM Year 1 Business Management 1A LU 1
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MNB1501 Business Management IA Assignment 4 Quiz Answers (539204) Semester 1 2024
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MNB1501 ASSESSMENT 3 SEMESTER 1 2024 SEARCHABLE
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NB: USE THE SOLUTIONS WRITTEN AT THE BOTTOM OF EACH AND EVERYQUESTION.
The most important characteristic of the business world in countries that adopt a market
economy is _____________________.
a.
that individuals themselves decide what to produce, how to produce it and at what price
to sell the product
b.
that the rationing of products occurs and prices of products are set by the state
c.
that the business involves human activities
d.
that businesses produce predominantly tangible products such as bread, cars and
houses
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that individuals themselves decide what to produce, how to produce it and at what price
to sell the product
Question 2
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If SAB were to introduce a rewards programme whereby employees who performed very
well every month are given recognition and financial incentives, the company would be
satisfying the __________________ needs of their employees.
a.
self-actualisation
,b.
security
c.
esteem
d.
physiological
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esteem
Question 3
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By its nature, brewing beer is a water-intensive process. Making more beer, but using
less water, is one of SABMiller’s three global focus areas. The transformation of water
and other ingredients, by SAB, into beer and other alcoholic beverages is known as
_________________ .
a.
production
b.
economic principle
c.
consumerism
d.
exchange
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,production
Question 4
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Sipho is the owner of a small tuck shop in Diepsloot. He started the tuck shop as a way
of earning money so that his family can survive. His business is not registered and,
therefore, Sipho does not pay rates or taxes. Sipho’s tuck shop forms part of the
__________ sector.
a.
illegal
b.
non-profit
c.
formal
d.
informal
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informal
Question 5
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The voluntary compliance of businesses with practices that are sustainable is known as
___________________.
, a.
business ethics
b.
consumerism
c.
corporate social responsibility
d.
corporate sustainability
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corporate social responsibility
Question 6
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Joe makes wooden toy trains to sell at a local market. He uses wooden blocks, glue and
paints to create the toy trains. This process is known as __________________ .
a.
production
b.
operations
c.
exchange
d.
co-operation
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