Business and Management Quiz

Who is most likely to represent employees for an increase in wages?

• A trade union

• Fair Work Australia

• An employer association

• Federal Court of Australia

The banning of dangerous goods such as asbestos is due to

• global sourcing.

• business policies.

• legal regulations.

• operational regulations.

At which stage of the human resource process would a performance appraisal of an employee be conducted?

• Acquisition

• Development

• Induction

• Separation

A retailer sells a new style of sunglasses at a significantly higher price for the first month they are sold. What pricing strategy is being used by the retailer?

• Price skimming

• Price penetration

• Price discrimination

• Price and quality interaction

Which row of the table shows the results of effective human resource management?

• Increase Decrease

• Increase Increase

• Decrease Decrease

• Decrease Increase

A government is providing businesses with a tax benefit if they source their electricity through renewable energy sources. The most likely reason for offering this tax benefit is to

• minimise government debt.

• minimise government utility costs.

• encourage competition between businesses.

• encourage businesses to be more environmentally sustainable.

An employee has badly injured their shoulder at work and is seeing a physiotherapist for treatment. The treatment that the physiotherapist provides can be described as a

• customised good.

• standardised good.

• customised service.

• standardised service.

An employee has engaged in misconduct and has been told to leave the organisation. Which of the following terms describes this employee’s separation from the organisation?

• Attrition

• Dismissal

• Redundancy

• Retrenchment

The role of an operations manager is to

• reduce waste and increase efficiency.

• reduce output and increase customisation.

• improve customisation and decrease speed.

• improve quality and decrease economies of scale.

A business has the following financial information. Sales $800 000 Cost of goods sold $200 000 Gross profit $600 000 Net profit $250 000 Expense ratio = total expenses ÷ sales What is the expense ratio for this business?

• 25%

• 31%

• 35%

• 44%