Bus external bl2

Question 1

What are politics?

Answer 1

The process concerned with how conflicts are CONTAINED, MODIFIED, POSTPONED OR SETTLED

Question 2

Name 2 political factors that affect business

Answer 2

Political stability, trade controls, impact of taxes, corruption

Question 3

The difference between an Authoritarian system and a democratic system

Answer 3

An authoritarian solves conflicts through enforcement of regulation and rules. A democratic system solves conflicts through rational discussion

Question 4

Difference between pressure groups and lobbying groups

Answer 4

Pressure groups are trying to influence the public opinion and lobbying groups are trying to influence the policy maker

Question 5

Why is business important for politics and the other way around

Answer 5

the goal for business is to make profit and the goal for the government is to ensure economics stability and growth

Question 6

Difference between macro and micro economics

Answer 6

Micro is the study of economics decision taken by individuals and firms.
Macro is concerned with interactions in the economy as a whole

Question 7

Micro economics indicators

Answer 7

Gdp per capita
Price changes
Market concentration
Changes in tax policy

Question 8

Macro economics indicators

Answer 8

Gdp
unemployment rate
consumer price index
inflation

Question 9

How assessing the economics health

Answer 9

Gdp
inflation
unemployment

Question 10

what is an leakage

Answer 10

income that households don’t give to the firms examples are saving taxes and import

Question 11

what is an injection

Answer 11

income that firms receive but not from household for example ; government spending
investment spending
exports

Question 12

what is a market

Answer 12

place where buyers and sellers meet

Question 13

how is cyclical employment caused

Answer 13

by general deficiency in demand

Question 14

how is structural unemployment caused

Answer 14

a mismatch between the skills of people and the skills required for the job

Question 15

technological unemployment

Answer 15

by introduction of new technology

Question 16

households provides resources to firms real or income flow

Answer 16

real flow

Question 17

firms provides goods and service to households, real or income flow

Answer 17

real flow

Question 18

households pay for the goods and services real or income flow

Answer 18

income flow

Question 19

firms pay wages and rent to households for the resources

Answer 19

income flow

Question 20

what is een kenmerk van price elasticity of demand

Answer 20

sensitive to price changes
large change in quantity demanded

Question 21

kenmerk van inelastic demand

Answer 21

insensitive to price changes
small change in quantity demanded

Question 22

is it elastic or not?
>1

Answer 22

yes

Question 23

is it elastic or not?
0

Answer 23

perfecty inelastic

Question 24

is it elastic or not?
<1

Answer 24

inelastic

Question 25

is it elastic or not? 1

Answer 25

unit elastic

Question 26

reasons for balling birth rates

Answer 26

increased availability of contraceptives trends towards smaller families trend towards later marriages and bearing changing attitude towards working woman

Question 27

reasons for falling death rate

Answer 27

improved working conditions rising living standards development in medical technology and practice better education

Question 28

influencing factors of net immigration

Answer 28

legal barriers economics migrancy numbers of fleeing persecution government policy political developments

Question 29

difference between working and fixed capital

Answer 29

working capital mobile needs to be replaced for example stocks of raw materials fixed capital less mobile long lasting machines building plank

Question 30

name 2/3 drivers of green business

Answer 30

government action, penalties against pollution economic opportunities ethical considerations

Question 31

what is the reason of demand planning

Answer 31

better forecasting increased profitability lower inventory customer retention

Question 32

3 types of forecasting

Answer 32

judgmental, historical data and preferences time series solely dependent on past demand cause and effect warm -ice cream

Question 33

what are the challenges of forecasting

Answer 33

an inappropriate technique will reduce forecast accuracy

Question 34

five basic manufacturing processes and explain

Answer 34

1. product line 2. continuous flow 3. job shop 4. bath production 5. fixed position layout

Question 35

explain pipeline stock

Answer 35

when an order for an item is issued but not yet received

Question 36

speculative stock

Answer 36

to protect against or prepare against some future event

Question 37

psychic stock inventory

Answer 37

that is kept to stimulate demand ( Ikea)

Question 38

difference between traditional and modern supply chain

Answer 38

the traditional store maximum as possible but the modern way only to have the required quantity of the right product in the right place

Question 39

explain the just in time manufactering

Answer 39

to minimize inventory and reduce cost just in time the right product

Question 40

difference between distribution center and fulfilment center

Answer 40

distribution center- difference places send to different stores fulfillment specific labels and send to your home directly

Question 41

explain the fast principle warehousing

Answer 41

flow accesibility space throughput

Question 42

what is cross docking

Answer 42

process of receiving goods and shipping it the same day without storing it

Question 43

what do you calculate with the reorder point

Answer 43

dxL+Ss

Question 44

the factors that need to be considered when choosing a facility location

Answer 44

cost consideration location of customer customer service expectations

Question 45

what are industry clusters

Answer 45

related industries in a particular location Paris- fashion

Question 46

what are free trade zones

Answer 46

where foreign goods may be stored exhibited, processed without being subjecting to duties

Question 47

why are incoterm efficient in doing business

Answer 47

mutual understanding of obligations and cost and risks of both seller and buyer

Question 48

explain the craap tests

Answer 48

currency relevance authority accuracy purpose

Question 49

difference between quantitative and qualitative

Answer 49

things that can be measured as degree or count but qualitative can not be easily measured in count

Question 50

the formula to calculate economics order quantity

Answer 50

2DS:h EN de wortel van dat antwoord

Question 51

what are 2 examples of carrying (holding) cost

Answer 51

- obsoloscence ( spoilage) - shrinkage - storage and handling - insurance - taxes -interest

Question 52

what are 2 examples of ordering cost

Answer 52

- cost of receiving order ( wages) - conducting a creditcheck - verifying inventory availability - entering orders into the system - preparing invoices - receiving payments

Question 53

examples of correct negative externalities

Answer 53

- direct controls - specific taxes

Question 54

examples of positive externalities

Answer 54

- subsidies - government provision ( vaccinations)

Question 55

what does corporate responsibility mean for businesses?

Answer 55

businesses having responsibilities that go beyond profit making, they protect the natural environment and support people and communities