Month: December 2020

According to Maslow’s hierarchy of needs, which one of the following statements is true?

Select ONE answer:

1. Social needs must be satisfied before security/safety needs can be used to motivate employees.
2. Self-actualisation must be reached before physiological needs can be used to motivate employees.
3. Esteem/ego needs must be satisfied before self-actualisation needs can be used to motivate employees.
4. Security/safety needs must be satisfied before physiological needs can be used to motivate employees.

Show the workings to arrive at your answer, and explain and justify your reasons:

A factory produces 120 units with a workforce of 10 employees. The number of employees stays the same but output increases by 20% and costs of production increase by 25%. This means that?

Select ONE answer:

1. labour productivity rises and unit costs rise
2. labour productivity rises and unit costs fall
3. labour productivity falls and unit costs rise
4. labour productivity falls and unit costs fall

Show the workings to arrive at your answer, and explain and justify your reasons:

The 7 ‘P’s of the marketing mix include?

Select ONE answer:

1. process
2. positioning
3. productivity
4. primary market research

Show the workings to arrive at your answer, and explain and justify your reasons:

Market capitalisation is the total value of a company’s?

Select ONE answer:

1. assets
2. dividends paid to shareholders
3. shares, based on the current share price
4. shares, based on the original share price

Show the workings to arrive at your answer, and explain and justify your reasons:

Which one of the following does not vary with output in the short-run?

Select ONE answer:

1. Total revenue
2. Total costs
3. Fixed costs
4. Variable costs

Show the workings to arrive at your answer, and explain and justify your reasons: