Grade 8 Business quiz round 1

Which of the following is a key characteristic of a democratic system?

• Free and fair elections

• Absolute power held by a monarch

• Limited individual freedoms

• State control of the media

How does batch production differ from flow production in terms of flexibility?

• Batch production is less flexible compared to flow production due to its continuous nature.

• Batch production is more flexible as it allows for adjustments between batches, whereas flow production is highly automated with less scope for changes.

• Flow production is more flexible due to its ability to customize each unit.

• There is no difference in flexibility between batch and flow production.

What is a primary characteristic of job production?

• Production of goods in large quantities with minimal customization.

• Customization of each product to meet specific client requirements.

• Mass production of standardized products with high efficiency.

• Production of goods in batches with identical units

Which one of these is an expense?

• Premises

• Trade payable

• Donations

• Repairs and maintenance

Which of the following is an example of a secondary sector activity?

• Farming

• Retail sales

• Manufacturing cars

• Banking

What is the term for the process of exposing hidden artifacts, sites and recording the findings from the archaeological sites?

• Excavation

• Survey

• Documentation

• Conservation

What is the name of the archaeological period characterized by the use of stone tools?

• Paleolithic

• Ancient period

• Medieval

• Bronze Age

What does 'just-in-time' (JIT) inventory control aim to achieve?

• Holding large amounts of inventory to avoid stockouts.

• Producing goods in advance of demand to reduce lead times.

• Minimizing inventory levels and reducing waste by receiving goods only as needed.

• Increasing inventory to handle unexpected demand fluctuations.

Why might a company choose to use batch production instead of flow production?

• To achieve high efficiency and economies of scale.

• To handle varying order sizes and product variations more effectively.

• To maintain continuous production without interruptions.

• To minimize the need for inventory storage.

If a company decides to cut its workforce to reduce costs, which stakeholder group is most directly affected?

• Customers

• Investors

• Employees

• Government