Form 5 POB - Term II- Review

The functions of management are:

(select all that apply)

• planning

• organizing

• controlling

• distributing

The MAXIMUM number of partners in a partnership are

• 2

• 20

A Mixed Economic System consists of

• the provision of free social services

• both public and private enterprise

The factors of production are:

(select all that apply)

• land

• labour

• capital

• enterprise/entrepreneur

The Democratic leader

• includes workers in decision-making

• does NOT include workers in decision-making

A contract may be terminated by all of the following methods EXCEPT

• completion

• offering

• lapse of time

• death

The exchange of goods without money is called

• hire purchase

• barter

The function of management which deals with setting goals is

• planning

• staffing

Which is an ADVANTAGE of International Trade ?

• Producers are able to increase their market size

• Import restrictions can be imposed on foreign items

Which of the following will affect the Standard of Living of a country ?

(select all that apply)

• a high crime rate

• a low literacy rate

• unemployment