Principles of Business

A system involving the exchange of goods depending on the double coincidence of wants is called

• Money

• Barter

• Specialization

• Equal Exchange

which of the following is NOT a function of money?

• Not Divisible

• Store of value

• Measure of Value

• Medium of Exchange

From which of the following commercial organizations might any member of the public be allowed to purchase shares?

• Co-operatives

• The Central Bank

• Private Companies

• Government Agencies

in which department of a manufacturing business would you MOST likely to find a engineer ?

• Production

• Personnel

• Marketing

• Financial

A hotel gives voucher for meals to its employee. This form of incentive is BEST described as?

• Reward

• Bonus

• Fringe Benefit

• Motivational Scheme

Paul wins a sum of money in lottery and decided to invest it in a business. Paul buys fruits and sells them to earn money. In which type of production is he involved?

• Secondary

• Subsistence

• Primary

• Tertiary

An Authoritarian is leader who

• Makes decision without consultation

• Allow workers to plan their own work

• Consults with those likely to be affected by the decision

• Takes suggestions from employees

The workers in a large organization are dissatisfied with the working conditions. the trade union representatives FIRST likely action will be to

• Have discussions with the personnel officers

• Encourage employees to adopt go slow tactics

• Encourage the workers to take actions

• Request a meeting with board of directors

A trait associated with entrepreneur is

• Taking risk

• Fair of failure

• Acceptance of loss

• Opposition of change

Which of the following documents should be used to indicate to a business department that supplies of certain goods are needed?

• Invoice

• Quotation

• Stock Card

• Requisition Order