2026 - MNB1501 - ASSESSMENT 1 - QUESTIONS AND ANSWERS - SEMESTER 2

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2026 – S1 – MNB1501 – ASSESSMENT 1 – Q&A


QUIZ

Assessment 1
Started on Thursday, 5 March 2026,
State Finished
Completed on Thursday, 5 March 2026,
Time taken
Marks 20.00/20.00
Grade 100.00 out of 100.00


Question 1
Which one of the following is a characteristic of a command economy?

a.
The means of production are owned privately.

b.
There are high social costs.

c.
Taxes are very high.

d.
The economy is not influenced by business fluctuations.

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Your answer is correct.
The correct answer is:
Taxes are very high.


Question 2
Which social force protects consumers against malpractice and unsafe products from
businesses?

a.
Consumerism

b.

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2026 – S1 – MNB1501 – ASSESSMENT 1 – Q&A


Business ethics

c.
Social responsibility

d.
Consumer ethics

Feedback
Your answer is correct.
The correct answer is:
Consumerism


Question 3
Which one of the following statements is correct?

a.
According to Maslow, human needs are classified in a hierarchy where the highest needs
must be satisfied before the lower-level needs can receive attention.

b.
Psychological needs are the basic survival needs such as the need for water, food and
clothing.

c.
According to Maslow, not all people have the same basic needs.

d.
Esteem needs are all ego-driven needs.

Feedback
Your answer is correct.
The correct answer is:
Esteem needs are all ego-driven needs.


Question 4
Which one of the following statements is incorrect?

a.