Started on Tuesday, 2 May 2023, 8:55 PM
State Finished
Completed on Tuesday, 2 May 2023, 9:11 PM
Time taken 15 mins 49 secs
Marks 19.00/20.00
Grade 95.00 out of 100.00
Question 1
Correct
Mark 1.00 out of 1.00
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?
a. The market economy
4
b. The command economy
c. Free-market economy
d. Mixed economies
Your answer is correct.
The correct answer is:
The command economy
Question 2
Correct
Mark 1.00 out of 1.00
The fundamental economic problem society is confronted with involves _______________ .
a. ensuring they get what they want
b. choosing how it will use its scarce resources to the maximum effect in order to satisfy its needs
c. ensuring the lowest possible satisfaction of needs with these scarce resources
d. making as much profit as possible regardless of the needs of society
Your answer is correct.
The correct answer is:
choosing how it will use its scarce resources to the maximum effect in order to satisfy its needs
,Question 3
Correct
Mark 1.00 out of 1.00
As an entrepreneur, Herman Heunis has to be able to set up specific objectives, organise projects and draw up schedules to ensure that the
necessary resources are in the right place at the right time. To which one of the following entrepreneurial skills does this refer?
Select one:
a. Marketing
b. Project management
c. Planning
d. Strategy
The correct answer is: Project management
Question 4
Correct
Mark 1.00 out of 1.00
SAB previously used their own large trucks to distribute the beer that the company brewed to customer outlets. However SAB decided to no
longer use their own trucks, but use owner-drivers of trucks to distribute their beer. These drivers receive contracts from SAB to deliver beer
to clients in demarcated areas. The above scenario is referred to as ______________.
Select one:
a. insourcing
b. innovating
c. franchising
d. outsourcing
The correct answer is: outsourcing
,Question 5
Correct
Mark 1.00 out of 1.00
The facilities, labour, raw materials and processing requirements would be included in the ___________ of the business plan.
Select one:
a. general company description
b. management plan
c. operating plan
d. marketing plan
The correct answer is: operating plan
Question 6
Correct
Mark 1.00 out of 1.00
Which one of the following statements is true for a partnership?
Select one:
a. The partnership has a separate estate from its partners and their personal assets.
b. The partnership is regarded as a separate taxpayer.
c. The partners are jointly and severally liable for all claims made against the partnership.
d. The continued existence of the partnership is not dependent on the legal capacity of the partners.
The correct answer is: The partners are jointly and severally liable for all claims made against the partnership.
, Question 7
Correct
Mark 1.00 out of 1.00
Kulula decides to conduct environment scanning by updating relevant secondary or published information which they obtain from the
organisation’s own database. Which form of elementary scanning is being applied?
Select one:
a. Scanning in the most elementary form
b. Scanning at the most advanced level
c. Scanning at an external level
d. Scanning at intermediate level
The correct answer is: Scanning in the most elementary form
Question 8
Correct
Mark 1.00 out of 1.00
The J&J brand can be classified as a/an __________ resource.
Select one:
a. tangible
b. organisational
c. intangible
d. scarce
The correct answer is: intangible
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
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 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 these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller oscardiura. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $5.08. You're not tied to anything after your purchase.
