Question 1 of 8economic systems
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An economy in which the means of production are privately owned and resources are allocated by the price mechanism is a
Under a socialist economic philosophy, the means of production are
An economy in which the state and the private sector each own part of the means of production is called a
Which of the following is an example of unethical conduct by an enterprise?
An enterprise that describes its product as medically proven when no tests were ever carried out is guilty of
A role of marketing in a business enterprise is to
Marketing contributes directly to an enterprise's survival because it
Which of the following is a method of job enrichment?
A benefit to an employer of paying employees a piece rate is that
A purpose of a business plan is to
A business plan also serves as a control tool because it
A business that aims to increase its sales, its outlets and its workforce over five years is pursuing the objective of
During a deep recession, the most realistic objective for a small enterprise is
An enterprise that sets out to minimise its waste and its pollution is pursuing
In strategic management, an enterprise's resources are best described as
An enterprise's capabilities differ from its resources in that capabilities are
Line production is well suited to car manufacturing mainly because
A limitation of line production in a car plant is that
Mary sells onions at 5 for a 20 kg pocket and her variable cost is 1 per pocket. Calculate the contribution per pocket, in dollars.
Mary sells onions at 5 a pocket, her variable cost is 1 a pocket and her fixed costs are $3 200. Calculate the break-even point in pockets.
A benefit to a poultry producer of operating on a large scale is
A challenge of operating a poultry business on a large scale is that
Which factor most directly influences an enterprise's pricing decision?
A firm selling a product with many close substitutes will find that its pricing is most constrained by
The first step in designing a business plan is to
In a business plan, the financial section would normally contain
Once a business plan has been implemented, the essential final stage is to
A benefit of converting a partnership into a public limited company is
Shareholders in a public limited company enjoy limited liability, which means that they
A drawback of converting a partnership into a public limited company is
State the term for a company's ability to continue in existence regardless of the death or withdrawal of any individual owner.
Selling shares in a state-owned enterprise to the general public on a stock exchange is which form of privatisation?
A local authority pays a private firm to collect refuse that its own workers previously collected. This is an example of
The existing managers of a state enterprise acquire ownership of it. This is known as
Indigenisation policy in Zimbabwe seeks to
A benefit of indigenisation to the domestic economy is that it
A risk of a strict indigenisation policy is that it may
A food outlet pays servers a commission on each meal sold. This financial incentive motivates staff because
The main advantage of paying a basic wage rather than commission alone is that it
Under a profit-sharing scheme, employees are motivated because
Free staff meals and medical aid provided by a food outlet are best described as
Operating ethically can give an enterprise a competitive advantage because
State the term for presenting a company's financial statements in a way that makes its position or performance look better than it really…
A reason a company might window dress its accounts is to
Window dressing may also be used to
Ratio analysis allows a large manufacturer to
A manufacturer struggling to pay its short-term debts would show this most clearly in which ratio?
A limitation of ratio analysis is that it