POB 1

Which of the following exemplifies a barter economy?

• Goods and services are exchanged for money payments

• Goods are not traded because there is no double coincidence of wants.

• Goods and services are exchanged for other goods

• A commodity such as cowrie shells serves as means of payment

Which of the following is part of the public sector of the economy?

• A public corporation

• A public company

• A co-operative

• A franchise

Which of the following types of business does not have limited liability?

• A public company

• A private company

• A limited partnership

• A sole trader

Which of the following functions of a business is responsible for the motivation and employment of people in the workplace?

• Production management

• Research and development

• Human resources management

• Marketing

The term "stakeholder" refers to someone who:

• Reads about business activity and takes an interest in business.

• Has a personal interest in decisions made by an organization.

• Is thinking about setting up a business of their own.

• Wants to find out more about how businesses are formed

Who are the owners of a public company?

• The individuals who originally set up the business.

• The board of directors of the company.

• The shareholders of the company.

• The family who own the company.

The compliance officer mainly includes:

• Making sure that a company meets legal standards and requirements.

• Looking after the welfare of the employees of a company

• Ensuring that information technology staff are trained in new applications .

• Providing information about organisation and its activities.

Making payments by cellphone is referred to as payment by:

• M-money

• Barter

• Bill of exchange

• Telegraphic money order

The process of transferring a business from the private sector to the public sector is referred to as:

• Privatisation

• Public sectorisation

• Nationalism

• Sale to the public

Where a bank is set up to siphon off the proceeds from criminal activity this is described as:

• Money laundering

• Electronic funds transfer

• A bank draft

• Ethical behaviour