Exam (elaborations)
MNB1501 ASSIGNMENT 1 2020(IT WILL HELP NEW STUDENT FOR 2023)
- Institution
- University Of South Africa (Unisa)
MNB1501 ASSIGNMENT 1 2020(IT WILL HELP NEW STUDENT FOR 2023)
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This assignment covers chapters 1 to 4 of the prescribed book. We recommend submitting yourassignment 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)
Page 1 of 7
, It is recommended that you read business case number 4: “Corporate social responsibility: South
African Breweries” (in the recommended book “Business Cases”) before attempting to answer questions
3 and 4. It is not compulsory that you do so, as the answers to the assignment questions can be found in
ITBM.
QUESTION 3
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 .
1. Consumerism
2. production (Refer to Section 1.2-1.3 in the textbook)
3. exchange
4. economic principle
QUESTION 4
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.
1. Esteem
2. physiological
3. self-actualisation (Refer to Section 12.7.2.2 in the textbook)
4. security
QUESTION 5
When referring to the role of the state in an economic system, a conservative perspective argues that
.
1. free markets are not subject to economic fluctuations, unemployment and inflation
2. the role of the state should be extremely limited (Refer to Section 1.4.6 in the textbook)
3. government can do a great deal to overcome limitations such as regulating private economic
activity
4. government has the ability to solve social and economic problems
Page 2 of 7
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