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MNB1501 ASSIGNMENT 1 FOR 2ND SEMESTER 2024
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MNB1501ASSIGNMENT 1 FOR 2ND SEMESTER 2024
FEND TUTORIALS
, Started on Monday, 9 September 2024, 3:29 PM
State Finished
Completed on Monday, 9 September 2024, 3:36 PM
Time taken 7 mins 1 sec
Marks 18.00/20.00
Grade 90.00 out of 100.00
Question 1
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Question text
Which social force protects consumers against malpractice and unsafe products from businesses?
a.
Consumerism
b.
Business ethics
c.
Social responsibility
d.
Consumer ethics
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The correct answer is:
Consumerism
Question 2
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Which of the following statements are correct? An entrepreneur is someone who .....................
a pursues profit.
b accepts risk.
c makes the most of opportunities in the environment.
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,d combines expertise and resources to produce products and services.
a.
ab
b.
cd
c.
bcd
d.
abcd
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The correct answer is:
abcd
Question 3
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When an economy is a combination of private enterprise, government ownership of resources and
government planning of the economy, this is called a ___.
a.
free-market economy
b.
command economy
c.
mixed economy
d.
socialist economy
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, Your answer is correct.
The correct answer is:
mixed economy
Question 4
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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 5
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Question text
Which of the following functional areas of management is responsible for transforming the
organisation’s resources into the final goods and services that are sold to customers?
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