MNB1501-Business Management 1 ASSIGNMENT 1 SEMESTER 1 POSSIBLE SOLUTIONS 2022. STUDY UNIT 1: THE BUSINESS WORLD AND BUSINESS MANAGEMENT QUESTION 1
The fundamental economic problem society is confronted with involves _.
1. ensuring they get what they want
2. choosing how it will use its scarce re...
MNB1501 ASSIGNMENT 1
SEMESTER 1 POSSIBLE
SOLUTIONS
, This assignment covers chapters 1 to 4 of the prescribed book. We recommend submitting your
assignment online on myUnisa. You may also use a mark-reading sheet to answer and submit the
assignment.
This assignment consists of 20 multiple-choice questions.
Note: You must submit this assignment in order to obtain entrance to the examination!
STUDY UNIT 1: THE BUSINESS WORLD AND BUSINESS MANAGEMENT QUESTION 1
The fundamental economic problem society is confronted with involves _.
1. ensuring they get what they want
2. choosing how it will use its scarce resources to the maximum effect in order to satisfy its needs
3. ensuring the lowest possible satisfaction of needs with these scarce resources (Refer to
Section 1.3.3 in the textbook)
4. making as much profit as possible regardless of the needs of society
QUESTION 2
After an alien invasion, Earth has to resort to the extreme protection of its resources in order to survive. A
global government is elected with the mandate to control all the resources, which remain to humanity. The
global government serves as a centrally directed economic system and has assumed complete responsibility
for producing and distributing products and services. Which one of the following best describes the main
economic system used in this new world order?
1. The market economy
2. The command economy
3. Free-market economy
4. Mixed economies (Refer to Section 1.4.5 in the textbook)
Pageon103-01-2022
This study source was downloaded by 100000837854628 from CourseHero.com of 7 02:12:30 GMT -06:00
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through EFT, credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying this summary from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller EXCELLENTNURSE. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy this summary for R59,84. You're not tied to anything after your purchase.
