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Barter is BEST described as the
process of exchange involving the use of money
purchase of goods and services using cheques
exchange of goods and services without the use of money
exchange of goods and services using notes and coins
Labour is BEST defined as the
physical and mental capabilities used to perform tasks
ability to carry out mangement functions effectively
level of skill training received by individuals who are working
total number of persons who hold jobs in government ministries
Which of the following is NOT a trading instrument
Bills of exchange
The term 'trade' refers to
the selling of goods and services on the stock market
the movement of immigrants from one country to another
any commercial activity involving the exchange of goods and services
the negotiation process between trade unions and management
In a public limited company, the losses are borne by the
The PRIMARY role of the human resource department of an organization is to
hire, recruit, train and motivate workers
promote recreational activities for workers
assist employees in understanding industrial relations
produce magazines highlighting outstanding workers
The purchasing supervisor reports directly to which of the following? (see chart in picture)
Which of the following positions would be BEST suited at 'X' (see chart in picture)
Board of Directors
Human Resource Manager
Which of the following departments is LIKELY to use its Management Information System (MIS) to manage information about customers and their response to the products they sell?
Subsidized meals for employees would fall under which of the following categories?
Wages and salaries
A MAJOR role of a trade union is to encourage the
unionization of workers
advancement of the welfare of its members
sacking of workers whenever they have problems at work
increase of salaries and vacations
An entrepreneur who wants to maintain control of the business would be advised to register the business as a
Private Limited Company
Which of the following is NOT an example of collateral
The MOST important use of collateral security to the lender is that it
can be seized if the borrower fails to pay
establishes the financial position of the borrower
improves the borrower's chance of getting a loan
gives the lender an idea of the state of the business
The synopsis of the business plan is contained in the
A post-dated cheque is one which
is dated for payment at a future date
was written no longer than six months ago
is dated to agree with the date of the document requesting payment
is dated by the bank on the day the cheque is presented for payment
Which of the following factors prevents an agreement from being considered a valid contract?
Offer and acceptance
A contract may be discharged by which of the following? (see options in picture)
I and II only
I and III only
II and III only
I, II and III
A 'purchase order' is a
request for additional goods
notification of goods received
statement of outstanding debts
document offering to buy goods
Which of the following types of cheques allows an individual to receive cash on demand?
Which of the following types of capital is used for the day-to-day operations of a business?
Which of the following factors of production earns interest?
The term 'human resources' refers to
materials and goods made by human beings
capital invested by shareholders in a company
raw materials used in the manufacture of goods
persons available for productive and professional services
Which of the following items is a product of the manufacturing industry?
Which of the following conditions would constitute a linkage between two industries?
Two firms manufacture similar goods
One firm shares the use of machinery with another firm
Two firms are responsible for the manufacture of different kinds of goods
The output of one industry of the economy becomes the input of another industry
Which of the following is a feature of perfect competition?
Few buyers and many sellers
Many buyers and few sellers
Barrier to entry into the market
Many buyers and many sellers
Which of the following is an example of service-type production?
The PRIMARY function of advertising is to
promote brand loyalty
promote public relations
ensure wider distribution of goods
Which of the following is NOT a function of the retailer?
Preparing goods for resale
Selling in small quantities
Providing a local supply of goods
Transporting goods to suitable storage facilities
Which of the following market situations is typically found where there are a large number of producers and consumers?