Business Paper 1 Exam Questions With Correct Answers. Scored 100%

Which one of the following does not vary with output in the short run? A Total revenue B Total costs C Fixed costs D Variable costs - AnsC Market capitalization is the total value of a company's: A assets B dividends paid to shareholders C shares, based on the current share price D shares, based on the original share price - AnsC The 7 'P's of the marketing mix include: A process B positioning C productivity D primary market research - AnsA A factory produces 120 units with a workforce of 10 employees. The number of employees stays the same but output increases by 20% and costs of production increase by 25%. This means that: A labour productivity rises and unit costs rise B labour productivity rises and unit costs fall C labour productivity falls and unit costs rise D labour productivity falls and unit costs fall - AnsA According to Maslow's hierarchy of needs, which one of the following statements is true. A Social needs must be satisfied before security/safety needs can be used to motivate employees. B Self-actualisation must be reached before physiological needs can be used to motivate employees. C Esteem/ego needs must be satisfied before selfactualisation needs can be used to motivate employees. D Security/safety needs must be satisfied before physiological needs can be used to motivate employees - AnsC Public limited companies usually pay ordinary shareholders their share of the profits in the form of: A inventory B dividends C fixed interest payments D retained profits - AnsB Payables are the value of: A a firm's overdraft from its bank B inventory held by a business C money owed to a firm by customers D money owed to suppliers by a business - AnsD