Mnb 1501 Study guides, Study notes & Summaries

MNB1501 Assignment 4 Semester 1 2022

assessment

MNB 1501MNB1501 TUT.pdf

QUESTION 1 The primary purpose in a free-market system is _______________________ while satisfying the needs of the people. 1 to work for the glory of the state 2 to ensure sustainability 3 to make a profit (Refer to Section 1.4.2 in the textbook) 4 to adhere to the ethics code of conduct QUESTION 2 The economy in which Vodacom and MTN function is characterised by intense competition and rivalry. What type of economy is this? 1 Free-market economy (Refer to Section 1.4.2 in the textboo...

BOOK SUMMATY

1.The business world and business management The most important characteristic of the business world in countries that adopt a market economy is 1. That the business involves human activities 2. That the businesses produce predominantly tangible products such as bread, cars and houses 3. That individuals themselves decide what to produce, how to produce and what to price to sell the product 4. That the rationing of products occurs and prices of products are set by the state Read the case b...

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