Management Studies MOCK 2

What happens to the price of a product when the demand for it increases?

• Price fluctuates

• Price remains the same

• Price increases

• Price decreases

What is the law of supply and demand?

• The law of supply and demand states that the price of a good remains constant regardless of the demand and supply

• The law of supply and demand states that the price of a good is determined solely by the cost of production

• The price of a good will rise when the demand for it is greater than the supply, and it will fall when the supply is greater than the demand.

• The law of supply and demand states that the price of a good will always decrease when the demand is high

What are the factors that can shift the demand curve?

• Changes in government policies

• Weather conditions

• Technological advancements

• Changes in consumer income, prices of related goods, consumer preferences, population demographics, and consumer expectations

What are the different types of motivation in organizations?

• Individual motivation, team motivation, and leadership motivation

• Financial motivation, emotional motivation, and physical motivation

• Positive motivation, negative motivation, and neutral motivation

• Intrinsic motivation, extrinsic motivation, and social motivation

How can managers use intrinsic motivation to improve employee performance?

• By setting unrealistic and unattainable goals

• By offering no opportunities for growth or development

• By micromanaging every task

• By providing opportunities for autonomy, mastery, and purpose in the workplace.

What are the key components of financial statement analysis?

• Budget forecast, customer feedback, production schedule

• Sales report, employee handbook, marketing plan

• Profit and loss statement, inventory report, tax return

• Income statement, balance sheet, cash flow statement, and footnotes

How can a company's financial statements be used to evaluate its performance?

• By analyzing its profitability, liquidity, solvency, and overall financial health.

• By evaluating the color scheme and design of its website

• By analyzing its social media presence and customer reviews

• By counting the number of employees in the company

What are the characteristics of perfect competition in market structures?

• Limited number of buyers and sellers, diverse products, imperfect information, restricted entry and exit, and market power

• Small number of buyers and sellers, similar products, imperfect information, restricted entry and exit, and market power

• Large number of buyers and sellers, diverse products, imperfect information, free entry and exit, and market power

• Large number of buyers and sellers, identical products, perfect information, free entry and exit, and no market power

What are the key features of a monopoly in market structures?

• A few sellers, many substitutes, low barriers to entry, and price maker

• A single seller, no close substitutes, high barriers to entry, and price maker

• A single seller, many substitutes, low barriers to entry, and price taker

• Multiple sellers, no substitutes, low barriers to entry, and price taker

What are the different leadership styles in organizations?

• Transactional, transformational, bureaucratic, laissez-faire

• The different leadership styles in organizations include autocratic, democratic, laissez-faire, transformational, transactional, and servant leadership.

• Democratic, bureaucratic, autocratic, laissez-faire

• Authoritarian, bureaucratic, laissez-faire, charismatic