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W We recommend submitting your assignment reading sheet to answer and submit the assignment

Economics

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W We recommend submitting your assignment reading sheet to answer and submit the assignment. S ? Chapter 1 1. An entrepreneur can be described as someone who: a) works full-time in a lifestyle business. b) is responsible for growth. c) is known as a corporate entrepreneur. d) is creative and innovative. e) takes calculated risks. Choose the correct combination: 1) a, b, c 2) a, c, d 3) b, c, e 4) b, d, e 2. The franchisee is a/an 1) small business manager 2) entrepreneur 3) intrapreneur 4) business owner 32
BSM 1501/101/3/2020 employees 3. A small business employs 1) five or fewer 2) between one and ten 3) between 11 and 50 4) between 50 and 200 4. Personal development, attending courses and appointing staff and experts to compensate where needed are examples of how entrepreneurs can 1) constructively apply their strengths 2) remedy their weaknesses 3) take advantage of opportunities 4) eliminate possible threats 5. The natural born talent an entrepreneur has refers to 1) skills 2) expertise 3) aptitudes 4) experience 6. Entrepreneurs generate new and usable ideas to solve any problem or exploit any opportunity. To which important personal characteristic does this statement refer? 1) Involvement in the business 2) Commitment to the business 3) Creativity and innovative ability 4) Willingness to take risks 7. Entrepreneurs dedicate their skills, expertise and resources to establishing and building the business. To which one of the following important personal characteristics of an entrepreneur does this statement refer? 1) Involvement in the business 2) Commitment to the business 3) Perseverance 4) Positive attitude and approach 33
8. Entrepreneurs are able to identify opportunities even in adverse and difficult situations. To which one of the following important personal characteristics of an entrepreneur does this statement refer? 1) Involvement in the business 2) Positive attitude and approach 3) Commitment to the business 4) Perseverance 9. Which one of the following management skills is included in the marketing and administrative functions? 1) Knowledge of competitors 2) Customer service 3) Market orientation 4) Importance of quality products or services business function/s. 10. The importance of quality products or services forms part of the 1) marketing and purchasing 2) human resources 3) administrative 4) marketing and operations Chapter 2 11. Enterprises that provide resources in their raw and unprocessed form to consumers can be classified under the sector 1) primary 2) secondary 3) tertiary 4) industrial 34
BBM150111/82020 und of the stars 12. The macro and market environments represent the aj strength b) waknesses c) opportunities d) threats Choose the correct combination 2) 3) ; 4) ao 13. Which business function deals with all the activities that are necessary to the task of management on all levels and throughout the entire organisation? 1) Operations Management function 2) General management function 3) Human resource management function 4) Administrative management function 14. Which business function includes all the activities involved in obtaining capital and using it efficiently 1) Operations management function 2) Administrative management function 3) Logistics management function 4) Financial management function 15. In which one of the following markets are goods and services purchased and used for manufacturing products or services to end-consumers? 1) Consumer market 2) Industrial market 3) Re-sale market 4) International market
16. To which consumer right does the following statement refer? The customer's safety is important and the customer should be informed about possible risks. 1) Right to exerche personal choice 2) Right to be heard 3) Right to be protected 4) Right to be informed 17. Industry is often gulty of air, water and noise pollution resulting from their manufacturing processes. This can be seen as part of the environment 1) economic 21 sona 3) physical 4) political 18. Inflation causes a continual rise in the prices of products and services. Inflation is a variable that influences the enterprise in the environment 1) economic 2) political 3) international 4) physical 19. Life expectancy has increased as a result of better medical services and healthier lifestyles. Life expectancy a variable that influences the enterprise in the environment 1) economic 2) social 3) technological 4) physical
BSM 1501/10192020 20. South Africa is technologically developed in certain areas; however, South Africa also imports technology from other countries, for example, computer technology from America. This can be seen as part of the environment 1) economic 2) political 3) international 4) social TOTAL: 20