MNB1501 May/Jun 2017 exam paper — questions

Every question, by topic

1. Question 1 · The business world and business management · 1 mark

   Questions 2 and 3 are based on a case study which states that deregulation within the South African airline industry was introduced in 1991; before deregulation, South African Airways (SAA) was the only service provider on both the main domestic routes and the international routes, but the first decade after deregulation brought a wave of low-cost airline competitors such as Flitestar, Sun Air, Phoenix Air, Nationwide, 1time and Velvet Sky into the domestic market. Choose the option that correctly completes the statement: the primary task of business management is to (1) provide solutions for the management problems experienced in business enterprises; (2) study the economic needs that have to be satisfied in the community; (3) examine the factors in the macro-environment that influence the activities in the micro-environment; or (4) determine how an enterprise can achieve the highest possible output with the least possible input.Show the full questionShow less

2. Question 2 · The business world and business management · 1 mark

   Questions 2 and 3 are based on a case study which states that deregulation within the South African airline industry was introduced in 1991; before deregulation, South African Airways (SAA) was the only service provider on both the main domestic routes and the international routes, but the first decade after deregulation brought a wave of low-cost airline competitors such as Flitestar, Sun Air, Phoenix Air, Nationwide, 1time and Velvet Sky into the domestic market. Based on the case study about SAA and airline deregulation, several factors in the business world place pressure on a modern-day organisation such as SAA. Identify which one of the following factors is depicted in the mini-case study: (1) environmental change; (2) consumerism; (3) profitability; or (4) corporate social investment.Show the full questionShow less

3. Question 3 · The business world and business management · 1 mark

   Questions 2 and 3 are based on a case study which states that deregulation within the South African airline industry was introduced in 1991; before deregulation, South African Airways (SAA) was the only service provider on both the main domestic routes and the international routes, but the first decade after deregulation brought a wave of low-cost airline competitors such as Flitestar, Sun Air, Phoenix Air, Nationwide, 1time and Velvet Sky into the domestic market. SAA operates within a free-market economy. The attributes listed are: (a) private ownership of production factors; (b) free competition; (c) profit motive recognised; (d) limited right to strike in state enterprises. Select the combination of attributes that correctly characterises a free-market economy: (1) a and b; (2) b and d; (3) a, b and c; or (4) a, b, c and d.Show the full questionShow less

4. Question 4 · The business world and business management · 1 mark

   Questions 2 and 3 are based on a case study which states that deregulation within the South African airline industry was introduced in 1991; before deregulation, South African Airways (SAA) was the only service provider on both the main domestic routes and the international routes, but the first decade after deregulation brought a wave of low-cost airline competitors such as Flitestar, Sun Air, Phoenix Air, Nationwide, 1time and Velvet Sky into the domestic market. Select the term that correctly completes the statement: the term ______ is a concept that originated in media revelations of malpractice by businesses and the resultant insistence of society on restricting such malpractice through regulation. Options are: (1) consumerism; (2) business ethics; (3) transformation; (4) social responsibility.Show the full questionShow less

5. Question 5 · The business world and business management · 1 mark

   Questions 2 and 3 are based on a case study which states that deregulation within the South African airline industry was introduced in 1991; before deregulation, South African Airways (SAA) was the only service provider on both the main domestic routes and the international routes, but the first decade after deregulation brought a wave of low-cost airline competitors such as Flitestar, Sun Air, Phoenix Air, Nationwide, 1time and Velvet Sky into the domestic market. Identify the type of economy in which the profit motive is absent: the profit motive is absent in the ______ economy. Options are: (1) market; (2) command; (3) socialist; (4) free-enterprise.Show the full questionShow less