MNB1501 Assignment 1 2021
Questions, Answers and References
, AaaignmenSTUDY UNIT 1: THE BUSINESS WORLD AND BUSINESS MANAGEMENT
QUESTION 1
A business’s effort to provide the greatest possible need satisfaction with limited available
resources is known as ____________________.
1 need satisfaction
2 productivity
3 rate of return on total capital
4 the economic principle (on page 16 of the prescribed book)
Read the case study below and answer questions 2 and 3.
A reason for the success of Southwest Airline lies in the treatment of the airline’s personnel.
Management believes that when employees are treated well, they will treat customers well,
providing a beneficial situation for all stakeholders. Southwest Airlines’ wages are generally
lower than those of competitors but the company sweetens the deal by making stock
options available to employees, enabling them to benefit from the airline’s financial success.
QUESTION 2
The personnel at Southwest Airline are part of the ___________ resources that make up
the business.
1 natural
2 physical
3 capital
4 human (on page 14 of the prescribed book)
QUESTION 3
By providing their employees with a salary, Southwest Airlines is satisfying the
______________ needs of the employees.
1 physiological
2 security
3 esteem
4 self-realisation
QUESTION 4
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 ________________.
1 production (on page 4 of the prescribed book)
2 exchange
3 co-operation
4 operations
Questions, Answers and References
, AaaignmenSTUDY UNIT 1: THE BUSINESS WORLD AND BUSINESS MANAGEMENT
QUESTION 1
A business’s effort to provide the greatest possible need satisfaction with limited available
resources is known as ____________________.
1 need satisfaction
2 productivity
3 rate of return on total capital
4 the economic principle (on page 16 of the prescribed book)
Read the case study below and answer questions 2 and 3.
A reason for the success of Southwest Airline lies in the treatment of the airline’s personnel.
Management believes that when employees are treated well, they will treat customers well,
providing a beneficial situation for all stakeholders. Southwest Airlines’ wages are generally
lower than those of competitors but the company sweetens the deal by making stock
options available to employees, enabling them to benefit from the airline’s financial success.
QUESTION 2
The personnel at Southwest Airline are part of the ___________ resources that make up
the business.
1 natural
2 physical
3 capital
4 human (on page 14 of the prescribed book)
QUESTION 3
By providing their employees with a salary, Southwest Airlines is satisfying the
______________ needs of the employees.
1 physiological
2 security
3 esteem
4 self-realisation
QUESTION 4
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 ________________.
1 production (on page 4 of the prescribed book)
2 exchange
3 co-operation
4 operations
