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Which of the following is NOT a typical requirement of consumer rights legislation?

• The seller must have legal title to the goods being sold.

• Goods sold must be fit for purpose.

• Item descriptions must be accurate.

• Goods must be reasonably priced.

If consumers expect the price of shoes to rise, there will be an increase in the demand for shoes today.

• True

• False

A large management consultancy has implemented a matrix structure. Many of the consultants work in temporary project teams. Which of Handy's cultural types would you expect to see in this organization?

• Role Culture

• Power Culture

• Task Culture

• Person Culture

Zero(0) price elasticity of demand means

• whatever the change in price, there is absolutely no change in demand

• for a small change in price, there is a small change in demand

• for a small change in price, there is a large change in demand

• for a large change in price, there is a small change in demand

The disadvantages of economic growth include which one of the following:

• growth rates may exceed inflation rates.

• the gap between rich and poor may narrow.

• growth may exceed population growth.

• growth may be in 'demerit' goods.

Frictional unemployment is caused by changes in the skills required by the economy.

• True

• False

ADB is a business which is owned by its workers. The workers share the profits and they each have a vote on how the business is run. Which of the following should be used to describe ADB?

• Public sector

• Private sector

• Not-for-profit

• Co-operative

A flat organization typically has narrow spans of control:

• True

• False

Employees are ---- stakeholders, while finance providers are --- stakeholders. Which two words fill the gaps in the above sentence?

• internal, connected

• external, internal

• connected, outsiders

• internal, suppliers

AZ Co is performing a SWOT analysis and notes that it has a large cash balance. Which of the SWOT headings would this be most likely to fall under?

• Strengths

• Weaknesses

• Opportunities

• Threats