5th Year Business Revision

Question 1

Which of the following rights (for a consumer) can also be known as INERTIA SELLING?

Accepted Answer

Unsolicited Goods

Question 2

EAT also stands for

Accepted Answer

Employment Appeals Tribunal

Question 3

Laissez-Faire is the French word for what?

Accepted Answer

Leave to do

Question 4

T/F, a decision by one stakeholder does not affect the interest of another?

Accepted Answer

False

Question 5

In terms of non-legislative methods which are used to resolve conflict, which comes SECOND?

Accepted Answer

Conciliation

Question 6

Who is responsible for creating the motivational hierarchy of needs?

Accepted Answer

Abraham Maslow

Question 7

Which of the following is NOT an Interest Group in Ireland?

Accepted Answer

GBI

Question 8

Which of the following is NOT an employees' right?

Accepted Answer

To do an honest day's work

Question 9

Investors take a _ risk, whereas entrepreneurs take a _ risk

Accepted Answer

financial, commercial

Question 10

T/F, every entrepreneur has a profit motive.

Accepted Answer

False

Question 11

Which of the following is an example of a competitive relationship between employer & employee?

Accepted Answer

Job security

Question 12

Which of the following forms can offer & acceptance of a contract be in?

Accepted Answer

All of the above

Question 13

Which is NOT a source of conflict in business?

Accepted Answer

Collective bargaining

Question 14

Which is the correct order for the elements necessary for a valid contract?

Accepted Answer

Agreement,Consideration,Intention,Capacity,Consent,Legality

Question 15

The Data Protection Act was set up in what year?

Accepted Answer

1988

Question 16

The Sale of Goods and Supply of Services Act was passed in what year?

Accepted Answer

1980

Question 17

In terms of non-legislative methods which are used to resolve conflict, which comes first?

Accepted Answer

Negotiation

Question 18

T/F, A business is an organisation set up to provide goods/services to potential customers?

Accepted Answer

True

Question 19

The main benefits of arbitration do NOT include which of the following?

Accepted Answer

Recommendation for resolution is NOT binding for either side

Question 20

If a _ is broken, the contract can be terminated.

Accepted Answer

Contract

Question 21

Adolf Hitler can be used as an example for which leadership style?

Accepted Answer

Autocratic

Question 22

Caveat Emptor means Buyer Beware, T/F?

Accepted Answer

True

Question 23

If one party fails to fulfill their side of the deal, this method of termination is called _?

Accepted Answer

Breach of Contract

Question 24

T/F, a contract is a legally binding agreement that is enforceable by law.

Accepted Answer

True

Question 25

Which of the following is the CORRECT spelling?

Accepted Answer

Entrepreneur

5th Year Business Revision

Questions 25

5th Year Business Revision

Questions 25