Unit 2: Managing business activities PART 2

Question 1

income tax is a type of which tax?

Accepted Answer

direct

Question 2

_____ are the length of time between the first emergence of the product concept/design and its launch into the market.

Accepted Answer

product lead-in times

Question 3

the price of one currency expressed in terms of another currency is...

Accepted Answer

exchange rates

Question 4

Quality control is a "reactive" method, whereas quality assurance of "proactive"

Accepted Answer

True

Question 5

what is a benefit of holding limited amounts of stock?

Accepted Answer

Reduction in storage costs

Question 6

if the value of a currency appreciates, what happens to the price of imports entering that country?

Accepted Answer

decrease

Question 7

Capital intensive production methods are those that require a relatively high level of capital investment/cost compared

Accepted Answer

True

Question 8

Productivity can be defined as "output per unit of input per time period"

Accepted Answer

True

Question 9

efficiency can be defined as "production at minimum average cost "

Accepted Answer

True

Question 10

the image relates to which area of legisation?

Accepted Answer

employee protection

Question 11

what happens during a downturn or slump?

Accepted Answer

output falls and many businesses shed staff because sales are falling.

Question 12

how much stock is held as buffer stock?

Accepted Answer

100

Question 13

what does TQM stand for?

Accepted Answer

Total Quality Management

Question 14

Capacity utilisation

Accepted Answer

current output (divided by) maximum possible output (× 100)

Question 15

A firm making 800 cars with 50 workers sacks 10 staff. Output is unaffected. What is productivity now?

Accepted Answer

20 cars

Question 16

Productivity can be improved through:

Accepted Answer

all of the above

Question 17

why may a businesses operate at less than 100% capacity utilisation?

Accepted Answer

all of the above

Question 18

Just in time (JIT) involves holding no buffer stocks with supplies arriving just before they are required by stores

Accepted Answer

True

Question 19

if the value of a currency appreciates, what happens to the price of exports leaving that country?

Accepted Answer

increase

Question 20

what is a benefit of BATCH production?

Accepted Answer

Production of goods may be flexible such as different varities

Question 21

______ production involves a business producing items that meet the specific requirements of the customer

Accepted Answer

job

Question 22

according to tradingeconomics.com interest rates in Spain are currently set at 0%

Accepted Answer

True

Question 23

Consumer prices in Spain fell 0.7 % year-on-year in April 2020

Accepted Answer

True

Unit 2: Managing business activities PART 2

Questions 23

Unit 2: Managing business activities PART 2

Questions 23