Business Management General

What does the term 'Average cost' refer to?

• The cost of advertising expenses

• The cost per unit of production

• The cost of salaries for employees

• The total revenue of a business

What is the role of a line manager in an organization?

• To provide legal advice

• To design marketing campaigns

• To handle financial transactions

• To supervise and manage subordinates on a day-to-day basis

What does the term 'Break-even' mean for a business?

• When total sales revenue equals total costs

• When the business makes a huge profit

• When the business incurs a loss

• When the business shuts down

What is the significance of customer loyalty for a business?

• It leads to repeat purchases and competitive advantage

• It increases the number of competitors

• It reduces the customer base

• It has no impact on the business

What does the term 'Word of mouth' refer to in the context of marketing?

• Paid promotion

• Unpaid promotion

• Online advertising

• Social media marketing

What is the ability of a business to meet its short-term debts and liabilities without causing disruptions or incurring excessive costs?

• Efficiency

• Profitability

• Liquidity

• Solvency

What is the process of hiring suitable workers for job roles within an organization?

• Dismissal

• Training

• Selection

• Recruitment

What do 'MNCs' stand for?

• Mega National Corporations

• Multiple Nations Companies

• Multinational Corporations

• Multinational Companies

What are 'Free Trade Agreements'?

• Businesses that are well known

• Businesses which are supported by their governments

• A business that operates in two or more countries or is legally registered in more than one country.

• Treaties which make trade and investment between 2 or more countries easier

A highly profitable multinational company benefits the host country's government as they pay larger amounts of corporate taxes.

• True

• False