Exam (elaborations)
MNB1501 - ASSESSMENT 8 - QUESTIONS AND ANSWERS - SEMESTER 2 - 2024
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2024 – S1 – MNB1501 – ASSESSMENT 8 – Q&AAssessment 8
Started on Wednesday, 1 May 2024
State Finished
Completed on Wednesday, 1 May 2024
Time taken
Marks 33.00/35.00
Grade 94.29 out of 100.00
Question 1
Which of the following attributes are characteristics of a free-market economy as an
economic system?
a private ownership of production factors
b free competition
c profit motive recognised
d limited right to strike in state enterprises
a.
ab
b.
ac
c.
abc
d.
abcd
Feedback
Your answer is correct.
The correct answer is:
abc
Question 2
Which one of the following statements is correct?
1
, 2024 – S1 – MNB1501 – ASSESSMENT 8 – Q&A
a.
According to Maslow, human needs are classified in a hierarchy where the highest
needs must be satisfied before the lower-level needs can receive attention.
b.
Psychological needs are the basic survival needs such as the need for water, food
and clothing.
c.
According to Maslow, not all people have the same basic needs.
d.
Esteem needs are all ego-driven needs.
Feedback
Your answer is correct.
The correct answer is:
Esteem needs are all ego-driven needs.
Question 3
In a ___________________ economy, individuals will need to take the tastes,
preferences and demands of consumers into account when deciding about
production and marketing if they want to make a profit.
a.
market
b.
command
c.
socialist
d.
2
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