Accelerated Class POB

Barter is BEST described as the

• Purchase of goods and services using cheques

• Process of exchange involving the use of money

• Exchange of goods and services using notes and coins

• Exchange of goods and services without the use of money

Which of the following is NOT a function of money?

• Indivisibility

• Store of value

• Exchange rate

• Measure of value

Which of the following items are not considered to be consumer goods?

• Stocks of soft drinks for resale

• Cars in a dealership waiting to be sold

• Stationery used by the accounts department

• Bottled water on the shelves of the supermarket

A MAJOR function of the public sector is to

• Make a profit

• Serve the entire population

• Serve the interest of the shareholder

• Inspire competition among businesses

Which of the following management functions is a manager engaged in when he grants a worker "Time off with pay"?

• Planning

• Delegating

• Motivating

• Supervising

Private enterprise is run MAINLY to

• Create profts

• Reduce inflation

• Distribute goods and services

• Proivde jobs for more people

The policies of a company are formulated by the

• Shareholders

• Auditors

• Directors

• Managers

Which of the following types of business environments is MOST typical of the Commonwealth Caribbean?

• Corporate state

• Mixed economy

• Centrally planned

• Perfectly competitive

In which of the following type of economic systems does the government make all decisions?

• Capital

• Mixed

• Command

• Subsistence

Mr. Lloyd, manager of LM Ltd, holds regular staff meetings to listen to ideas from employees before making decisions that would affect the future of the company.

What leadership style does Mr. Lloyd employ?

• Charismatic

• Laissez faire

• Democratic

• Autocratic