MNB1501
Assignment 1 Semester 1 2025
Unique Number:
Due Date: 24 March 2025
DISCLAIMER & TERMS OF USE
Educational Aid: These study notes are intended to be used as educational resources and should not be seen as a
replacement for individual research, critical analysis, or professional consultation. Students are encouraged to perform
their own research and seek advice from their instructors or academic advisors for specific assignment guidelines.
Personal Responsibility: While every effort has been made to ensure the accuracy and reliability of the information in
these study notes, the seller does not guarantee the completeness or correctness of all content. The buyer is
responsible for verifying the accuracy of the information and exercising their own judgment when applying it to their
assignments.
Academic Integrity: It is essential for students to maintain academic integrity and follow their institution's policies
regarding plagiarism, citation, and referencing. These study notes should be used as learning tools and sources of
inspiration. Any direct reproduction of the content without proper citation and acknowledgment may be considered
academic misconduct.
Limited Liability: The seller shall not be liable for any direct or indirect damages, losses, or consequences arising from
the use of these notes. This includes, but is not limited to, poor academic performance, penalties, or any other negative
consequences resulting from the application or misuse of the information provided.
, MNB1501-25-S1 Welcome Message Assessment 1
QUIZ
Started on Friday, 28 February 2025, 4:25 AM
State Finished
Completed on Wednesday, 12 March 2025, 11:36 PM
Time taken 12 days 19 hours
Marks 20.00/20.00
Grade 100.00 out of 100.00
Question 1
Correct
Mark 1.00 out of 1.00
Which one of the following countries has a command economy?
a. North Korea
b. South Africa
c. England
d. America
Your answer is correct.
The correct answer is:
North Korea
,Question 2
Correct
Mark 1.00 out of 1.00
The fundamental economic problem society is confronted with involves .
a.
ensuring they get what they want
b.
choosing how it will use its scarce resources to the maximum effect in order to satisfy its needs
c.
ensuring the lowest possible satisfaction of needs with these scarce resources
d.
making as much profit as possible regardless of the needs of society
Your answer is correct.
The correct answer is:
choosing how it will use its scarce resources to the maximum effect in order to satisfy its needs
Question 3
Correct
Mark 1.00 out of 1.00
Transnet is an example of a ______.
a. non-profit organisation
b. public corporation
c. privately owned enterprise
d. personal liability company
Your answer is correct.
The correct answer is:
public corporation
, Question 4
Correct
Mark 1.00 out of 1.00
Which social force protects consumers against malpractice and unsafe products from businesses?
a. Consumerism
b. Business ethics
c.
Social responsibility
d. Consumer ethics
Your answer is correct.
The correct answer is:
Consumerism
Question 5
Incorrect
Mark 0.00 out of 1.00
Cindy and her husband, Trevor, own a small pool shop in Noordwyk that sells pool chemicals and provides pool maintenance
services. Cindy is responsible for ensuring that enough stock is available to sell and for Trevor to use for cleaning and
servicing customers’ pools. In most instances, they need a bigger supply of chemicals to satisfy customer demand. Trevor
does not keep his appointments to service pools due to a lack of the required chemicals. Which of the following skills would
you advise Cindy to acquire to manage the business well?
a. marketing skills
b. project management skills
c. planning skills
d. strategic thinking skills
Your answer is incorrect.
Project management or organisational skills are vital to managing various business activities and resources to ensure the
consistent and timeous supply of products or services. Ensuring there is sufficient stock to meet customer demand and to
maintain the quality of products or services provided to clients is important. (See 2.4, lesson 2.)
The correct answer is:
project management skills
Assignment 1 Semester 1 2025
Unique Number:
Due Date: 24 March 2025
DISCLAIMER & TERMS OF USE
Educational Aid: These study notes are intended to be used as educational resources and should not be seen as a
replacement for individual research, critical analysis, or professional consultation. Students are encouraged to perform
their own research and seek advice from their instructors or academic advisors for specific assignment guidelines.
Personal Responsibility: While every effort has been made to ensure the accuracy and reliability of the information in
these study notes, the seller does not guarantee the completeness or correctness of all content. The buyer is
responsible for verifying the accuracy of the information and exercising their own judgment when applying it to their
assignments.
Academic Integrity: It is essential for students to maintain academic integrity and follow their institution's policies
regarding plagiarism, citation, and referencing. These study notes should be used as learning tools and sources of
inspiration. Any direct reproduction of the content without proper citation and acknowledgment may be considered
academic misconduct.
Limited Liability: The seller shall not be liable for any direct or indirect damages, losses, or consequences arising from
the use of these notes. This includes, but is not limited to, poor academic performance, penalties, or any other negative
consequences resulting from the application or misuse of the information provided.
, MNB1501-25-S1 Welcome Message Assessment 1
QUIZ
Started on Friday, 28 February 2025, 4:25 AM
State Finished
Completed on Wednesday, 12 March 2025, 11:36 PM
Time taken 12 days 19 hours
Marks 20.00/20.00
Grade 100.00 out of 100.00
Question 1
Correct
Mark 1.00 out of 1.00
Which one of the following countries has a command economy?
a. North Korea
b. South Africa
c. England
d. America
Your answer is correct.
The correct answer is:
North Korea
,Question 2
Correct
Mark 1.00 out of 1.00
The fundamental economic problem society is confronted with involves .
a.
ensuring they get what they want
b.
choosing how it will use its scarce resources to the maximum effect in order to satisfy its needs
c.
ensuring the lowest possible satisfaction of needs with these scarce resources
d.
making as much profit as possible regardless of the needs of society
Your answer is correct.
The correct answer is:
choosing how it will use its scarce resources to the maximum effect in order to satisfy its needs
Question 3
Correct
Mark 1.00 out of 1.00
Transnet is an example of a ______.
a. non-profit organisation
b. public corporation
c. privately owned enterprise
d. personal liability company
Your answer is correct.
The correct answer is:
public corporation
, Question 4
Correct
Mark 1.00 out of 1.00
Which social force protects consumers against malpractice and unsafe products from businesses?
a. Consumerism
b. Business ethics
c.
Social responsibility
d. Consumer ethics
Your answer is correct.
The correct answer is:
Consumerism
Question 5
Incorrect
Mark 0.00 out of 1.00
Cindy and her husband, Trevor, own a small pool shop in Noordwyk that sells pool chemicals and provides pool maintenance
services. Cindy is responsible for ensuring that enough stock is available to sell and for Trevor to use for cleaning and
servicing customers’ pools. In most instances, they need a bigger supply of chemicals to satisfy customer demand. Trevor
does not keep his appointments to service pools due to a lack of the required chemicals. Which of the following skills would
you advise Cindy to acquire to manage the business well?
a. marketing skills
b. project management skills
c. planning skills
d. strategic thinking skills
Your answer is incorrect.
Project management or organisational skills are vital to managing various business activities and resources to ensure the
consistent and timeous supply of products or services. Ensuring there is sufficient stock to meet customer demand and to
maintain the quality of products or services provided to clients is important. (See 2.4, lesson 2.)
The correct answer is:
project management skills
