P.O.B. Sections 1-3

Which of the following BEST describes 'direct production'?

• Producing goods for export

• Producing an adequate amount of goods to satisfy the family, with a surplus for trade

• Producing an adequate amount of goods to satisfy the family, with no surplus for trade

• Enterprises that are critical to the survival of the economy of the country

All of the following are examples of internal stakeholders EXCEPT

• Manager

• Employees

• Competitors

• Board of Directors

ALL of the following territories have a mixed economic system EXCEPT

• Saint Lucia

• Cuba

• Dominica

• Grenada

All of the following are functions of the Board of Directors EXCEPT:

• To develop strategic goals

• To make decisions as to how business profits and capital should be invested.

• To make decisions as to what resources are necessary for business activities.

• To handle customer complaints

Which of the following reasons why companies engage in joint ventures?

I. To spread the risk of the business activity

II. To help dilute the cultures and values of the host country

III. Provides greater access to new markets

IV. Provides greater access to capital to finance the project

• I, II, III

• I, III, IV

• II, III, IV

• All of the above

Which of the following is an example of an internal stakeholder in business?

• Supplier

• Competitor

• Shareholder/Owner

• Government

The greatest economics problem that economies face is the problem of:

• Choice

• Scarcity

• Greed

• Barter

Which of the following best defines a conglomerate?

• A multinational company

• A company with many subsidiaries

• An international company with many subsidiaries

• A company with subsidiaries in different industry sectors

Which of the following BEST describes the concept of 'stakeholder'?

• An individual, business or group that has shares in a business

• An individual, business or group that monitors how well a business performs

• Any individual, business or group that has a vested interest in how well a business performs

• An individual, business or group that establishes a business

Which of the following are generally examples of private sector business organizations.

I. Franchise and state corporation

II. Partnerships and conglomerates

III. Multi-nationals and joint ventures

IV. Statutory bodies and nationalized industries

• I and IV

• I and III

• II and III

• IV only