All unit 2023 study quiz

A​ ​ ​ (a)   ​ ​ is a decision-making organization that uses inputs, known as the factors of ​ ​ ​ (b)   .

• business
• production

What term is used to describe the act of transferring a business function or activity to an organization that operates overseas?

• Decentralization

• Globalization

• Offshoring

• Outsourcing

Which of the following canNOT be applied to gross profit?

• Appears on the trading account

• Calculated as sales minus cost of goods sold

• Calculated by total revenue minus the cost of sales

• Expressed as a percentage to allow for comparisons

Label the lines on the graph.

a

b

c

d

Total Costs

Revenue

Break even point

Fixed Costs

When reporting fixed assets, some businesses include ​ (a)   assets. These are non-physical assets that have a monetary value, such as ​ (b)   .

• intangible
• copyrights

Pricing strategy used for technologically advanced and innovative products.

Making a job more challenging is an example of

• job enlargement

• job enrichment

• job retrenchment

• job rotation

Which of the following is a drawback of using internal recruitment?

• lack of new ideas and creativity

• cost of recruitment

• large amount of time needed

• relative cost of recruitment

What is the name given to a product that has the largest market share in a particular market?

• Brand awareness

• Brand leader

• Brand loyalty

• Global brand

Extension strategies of the product lifecycle do not include

• Price reductions

• Repackaging

• charging premium prices

• Redesigning