Mnb1501 Assignment 1 ( complete questions and answers) semester 1 2025 due date 24 March 2025 Time 11:00PM

MNB 1501
ASSIGNMENT 1 SEMESTER 1 2025
DISTINCTION GUARANTEED
24 MARCH 2025 TIME 11:00 PM



Use this document as a guide to learn, compare and reference

,EXPECTVIEW TUTORS EXPECTVIEW TUTORS EXPECTVIEW TUTORS




EXPECTVIEW TUTORS EXPECTVIEW TUTORS




EXPECTVIEW TUTORS EXPECTVIEW TUTORS EXPECTVIEW TUTORS




EXPECTVIEW TUTORS EXPECTVIEW TUTORS




EXPECTVIEW TUTORS EXPECTVIEW TUTORS EXPECTVIEW TUTORS




EXPECTVIEW TUTORS EXPECTVIEW TUTORS




EXPECTVIEW TUTORS EXPECTVIEW TUTORS EXPECTVIEW TUTORS




EXPECTVIEW TUTORS EXPECTVIEW TUTORS



EXPECTVIEW TUTORS EXPECTVIEW TUTORS EXPECTVIEW TUTORS




EXPECTVIEW TUTORS EXPECTVIEW TUTORS

, Started on Monday, 20 January 2025, 11:36 AM
State Finished
Completed on Monday, 20 January 2025, 11:58 AM
Time taken 21 mins 46 secs
Marks 20.00/20.00
Grade 100.00 out of 100.00


Question 1 There are several economic systems in the world. The country of Utopia allows and encourages all members of the community to possess
Correct houses and to earn profits on them by renting the houses out to overseas tourists. Clothing and food are allocated based on free-market
Mark 1.00 out of
demand and are not controlled by the government. All residents of Utopia are allowed to choose which careers they want to follow. Which
1.00 economic system does Utopia use?
Flag
question a. Free market
b.
Command economy


c. Socialism
d. Communism



Your answer is correct.
The correct answer is:
Free market



Question 2 Which social force protects consumers against malpractice and unsafe products from businesses?
Correct
Mark 1.00 out of a. Consumerism
1.00

Flag
b. Business ethics
question
c. Social responsibility



d. Consumer ethics



Your answer is correct.
The correct answer is:
Consumerism



Question 3 Which one of the following options is not a role which businesses play in society?
Correct
Mark 1.00 out of a. Influence the country’s economy
1.00

Flag
b. Abolish natural resources
question
c. Act as social platform
d. Provide taxes to the government



Your answer is correct.
The correct answer is:
Abolish natural resources



Question 4 If SAB were to introduce a rewards programme whereby employees who performed very well every month are given recognition and
Correct financial incentives, which needs of their employees would the company be satisfying?
Mark 1.00 out of
1.00
a. esteem
Flag
question

b. physiological
c. self-actualisation

, d. security



Your answer is correct.
The correct answer is:

esteem



Question 5 Gloria, an entrepreneur who owns the Sebenza Cleaning Company, has just secured a five-year contract with the Alex Shopping Centre to
Correct clean the building. Gloria needs to know what resources are required to provide cleaning services to the shopping centre for the next five
Mark 1.00 out of
years. _______ are the most relevant management skills for performing this function.
1.00

Flag a. Project management skills
question
b. Planning skills
c. Human relations skills
d. Organisational skills



Your answer is correct.
Planning skills entail the ability to plan for the future of a business. Without planning skills, the entrepreneur cannot prepare for the
company’s sustainability. Planning will help the entrepreneur to focus on the business’s objective and to acquire appropriate resources to
ensure the success of the business. (See 2.4, lesson 2.)
The correct answer is:
Planning skills



Question 6 Thami, an entrepreneur, owns a small takeaway restaurant that sells fish and chips in central Johannesburg. It is challenging for him to
Correct attract customers as his business is new and not well known. He cannot purchase bulk inventory because he cannot afford it. He also lacks
Mark 1.00 out of knowledge of running a business. A friend of his has advised him to join a franchise. Which of the following benefits of joining a franchise
1.00 will enable Thami to solve his problems?
Flag
question
a. An entrepreneur can enter a franchise with little or no understanding and knowledge of the franchise business and benefit from the
experience through guidance provided by the franchisor.
b. A franchisee enjoys independence in running the franchise.
c. A franchisor has the necessary purchasing power to buy inventory in bulk and can negotiate lower prices, and a franchisee will benefit
from the lower prices.
d. A franchisee can learn the franchisee’s operations from the franchisor through hands-on training, acquire management skills or attend
training on business management through the franchisor.
e. A franchisee will benefit from the franchise’s known and established brand. The franchisor also helps the franchisee to promote the
business through advertising.



a. a; b; c; e



b. a; c; d; e
c. d; b; c; a
d. a; b; d; e



Your answer is correct.
An aspiring entrepreneur can enter a franchise with little or no understanding and knowledge of the franchise business and benefit from the
experience through guidance provided by the franchisor. The franchisee can also learn the franchise’s operations from the franchisor, with
minimum chances of failure.
The franchisee can learn the franchise’s operations from the franchisor through hands-on training. This training will empower the franchisee
to understand the business intricacies of the franchise. The franchisee can also acquire management skills or attend training on business
management through the franchisor. The franchisee will also benefit from the franchise's known and established brand. The franchisor also
helps the franchisee to promote the business through advertising.
The franchisor has the necessary purchasing power to buy inventory in bulk and can negotiate lower prices. The franchisee, in return, will
benefit from the lower prices as most business start-ups cannot afford to purchase stock in bulk. (See 2.6.1, lesson 2.)


The correct answer is:
a; c; d; e