MNB 1501 ASSIGNMENT 1

QUESTION 1 The primary purpose in a free-market system is _______________________ while satisfying the needs of the people. 1 to work for the glory of the state 2 to ensure sustainability 3 to make a profit (Refer to Section 1.4.2 in the textbook) 4 to adhere to the ethics code of conduct QUESTION 2 The economy in which Vodacom and MTN function is characterised by intense competition and rivalry. What type of economy is this? 1 Free-market economy (Refer to Section 1.4.2 in the textbook) 2 Competitive economy 3 Socialistic economy 4 Freedom economy QUESTION 3 Charmaine is the owner of an exclusive guesthouse in Paternoster. She is busy planning for the tourist season in 2014 and she is assessing the viability of targeting the German market for the December holidays. Which functional area of her business will be responsible for this task? 1 General management (Refer to Section 1.7 in the textbook)s 2 Operations 3 Marketing 4 Purchasing This study source was downloaded by from CourseH on :19:09 GMT -05:00 This study resource was shared via CourseH 2 QUESTION 4 Which social force protects consumers against malpractice and unsafe products from businesses? 1 Consumerism (Refer to Section 4.6.4.5 in the textbook) 2 Business ethics 3 Social res