MNB1501 - ASSESSMENT 1 - SEMESTER 1 - 2023 - Q&A

MNB1501 – ASS1 – S1 – 2023 – Q&A
Marks 20.00/20.00
Grade 100.00 out of 100.00
Question 1

The voluntary compliance of businesses with practices that are sustainable is
known as ___________________.


a. business ethics

b. consumerism

c. corporate sustainability

d. corporate social responsibility

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Your answer is correct.
The correct answer is:
corporate social responsibility

Question 2

Employment equity is the notion that ____________________.


a. the composition of the workforce should reflect the composition of top
management.

b. the composition of the workforce should reflect the composition of the community.

c. employment should be provided on an equitable basis to all job seekers.

d. human resources is the most important contributor to the business' equity

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Your answer is correct.
The correct answer is:
the composition of the workforce should reflect the composition of the
community.

Question 3

Sipho is the owner of a small tuck shop in Diepsloot. He started the tuck shop
as a way of earning money so that his family can survive. His business is not

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,registered and, therefore, Sipho does not pay rates or taxes. Sipho’s tuck shop
forms part of the __________ sector.


a. informal

b. formal

c. non-profit

d. illegal

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Your answer is correct.
The correct answer is:
informal

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
__________________.


a. production

b. exchange

c. co-operation

d. operations

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Your answer is correct.
The correct answer is:
production

Question 5

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.

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,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

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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

Question 6

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.
non-profit seeking

c.
partnership

d.
state owned
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Your answer is correct.
The correct answer is:
non-profit seeking

Question 7

___________________ may be regarded as a compromise between a pure
market economy and a pure command economy.




a.
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, Socialism

b.
Mixed economy



c.
Free-market economy

d.
State economy
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Your answer is correct.
The correct answer is: Socialism

Question 8

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
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Your answer is correct.
The correct answer is:
production

Question 9

Deregulation within the airline industry was introduced in South Africa in 1991.
Before deregulation, South African Airways (SAA) was the only service
provider on the main domestic airline routes as well as the international airline

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