Business Management 1A
MNB1501
Department of Business Management
Assignment 01 for 2021 (compulsory)
Due Date: 07 May 2021
, This assignment covers Chapters 1-4 of the prescribed book.
This assignment consists of 20 multiple-choice questions.
Note: You must submit this assignment on myUnisa to obtain admission to the examination!
Save a copy of the submission receipt for peace of mind.
STUDY UNIT 1: THE BUSINESS WORLD AND BUSINESS MANAGEMENT
QUESTION 1
A business’s effort to provide the greatest possible need satisfaction with limited available
resources is known as ____________________.
1 need satisfaction
2 productivity
3 rate of return on total capital
4 the economic principle
Answer:
Refer to page 16 of the prescribed textbook:
Given its unlimited needs but limited resources, society is confronted with the fundamental
economic problem: how to ensure the highest possible satisfaction of needs with these scarce
resources. This is also known as the economic principle.
MNB1501
Department of Business Management
Assignment 01 for 2021 (compulsory)
Due Date: 07 May 2021
, This assignment covers Chapters 1-4 of the prescribed book.
This assignment consists of 20 multiple-choice questions.
Note: You must submit this assignment on myUnisa to obtain admission to the examination!
Save a copy of the submission receipt for peace of mind.
STUDY UNIT 1: THE BUSINESS WORLD AND BUSINESS MANAGEMENT
QUESTION 1
A business’s effort to provide the greatest possible need satisfaction with limited available
resources is known as ____________________.
1 need satisfaction
2 productivity
3 rate of return on total capital
4 the economic principle
Answer:
Refer to page 16 of the prescribed textbook:
Given its unlimited needs but limited resources, society is confronted with the fundamental
economic problem: how to ensure the highest possible satisfaction of needs with these scarce
resources. This is also known as the economic principle.
