MNB1501: Assignment 1
The _____________________ function is responsible for acquiring all products and materials
that are required by the business to function profitably.
a.
operations
b.
purchasing and supply
c.
human resources
d.
general management
The correct answer is B purchasing and supply
Joe makes wooden toy trains to sell at a local market. He uses wooden blocks, glue and
paints to create the toy trains. This process is known as __________________ .
a.
production
b.
exchange
c.
co-operation
d.
operations
The correct answer is A, production
,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
Feedback
Your answer is correct.
The correct answer is:
The command economy
The most important characteristic of the business world in countries that adopt a market
economy is _____________________.
a.
that the business involves human activities
b.
that businesses produce predominantly tangible products such as bread, cars and
houses
c.
that individuals themselves decide what to produce, how to produce it and at what
price to sell the product
, d.
that the rationing of products occurs and prices of products are set by the state
Feedback
Your answer is correct.
The correct answer is:
that individuals themselves decide what to produce, how to produce it and at what price
to sell the product
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
_________________ .
a.
consumerism
b.
production
c.
exchange
d.
economic principle
Feedback
Your answer is correct.
The correct answer is:
production
The Nelson Mandela Children’s Fund is a charitable organisation founded by Nelson
Mandela that strives to change the way society treats its children and youth. Its mission
is to give voice and dignity to the African child by building a rights-based movement.
The Nelson Mandela Children’s Fund is an example of a _______________ organisation.
a.
private owned
b.
The _____________________ function is responsible for acquiring all products and materials
that are required by the business to function profitably.
a.
operations
b.
purchasing and supply
c.
human resources
d.
general management
The correct answer is B purchasing and supply
Joe makes wooden toy trains to sell at a local market. He uses wooden blocks, glue and
paints to create the toy trains. This process is known as __________________ .
a.
production
b.
exchange
c.
co-operation
d.
operations
The correct answer is A, production
,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
Feedback
Your answer is correct.
The correct answer is:
The command economy
The most important characteristic of the business world in countries that adopt a market
economy is _____________________.
a.
that the business involves human activities
b.
that businesses produce predominantly tangible products such as bread, cars and
houses
c.
that individuals themselves decide what to produce, how to produce it and at what
price to sell the product
, d.
that the rationing of products occurs and prices of products are set by the state
Feedback
Your answer is correct.
The correct answer is:
that individuals themselves decide what to produce, how to produce it and at what price
to sell the product
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
_________________ .
a.
consumerism
b.
production
c.
exchange
d.
economic principle
Feedback
Your answer is correct.
The correct answer is:
production
The Nelson Mandela Children’s Fund is a charitable organisation founded by Nelson
Mandela that strives to change the way society treats its children and youth. Its mission
is to give voice and dignity to the African child by building a rights-based movement.
The Nelson Mandela Children’s Fund is an example of a _______________ organisation.
a.
private owned
b.
