Economics - Part 1 Flashcards
(45 cards)
A travel agency advertises a week’s Last-minute trips from Stockholm to Gran Canaria for 2,999 SEK, with departure in one day. What type of pricing model has the travel agency presumably used?
a). Value-based pricing
b). Market price
c). Cost plus pricing
d). Variable costs + contribution margin
c) Cost plus pricing
(Självkostnad + vinstpålägg)
Which of the following is NOT an example of benchmarking?
a). Study visit to a factory
b). Interviews with representatives of industry organizations
c). TV advertising campaign
d). Testing of various products
c). TV advertising campaign
In what type of production is reasonably occurring in a factory that manufactures matches (including packaging in matchboxes)?
a). Single-piece production
b). Batch production
c). Mass production
d). Continuous production
d). Continuous production
Which of the following would NOT be classified as waste according to Lean Production in a pizzeria?
a). The baker retrieves a bowl of tomato sauce from a refrigerator in the basement
b). The baker performs measurements on the pizza oven’s temperature
c). The baker adds extra mushrooms to a Capricciosa pizza
d). The employee responsible for delivering pizzas to customers collects ten customer orders before leaving to make the delivery
b). The baker performs measurements on the pizza oven’s temperature
Which of the following fits as a typical description of an AGILE approach in product development projects?
a). Creating a sense of security even if resources are running out or there is a shortage of time towards the end of the project
b). Planning each development step very carefully in advance and being prepared for different scenarios
c). Experimenting, exploring, and taking greater risks than in traditional product development
d). Considering the market and involving the customer to an unusually high extent
d). Considering the market and involving the customer to an unusually high extent
A company that wants to minimize its capital commitment should…
a). Order raw materials frequently
b). Create safety stocks to secure the availability of materials at each production stage
c). Offer customers a late order point
d). Create a functional layout in production
a). Order raw materials frequently
What are the three dimensions of sustainable development?
a). Ethical, social, and economic
b). People, technology, and environment
c). Ecological, economic, and social
d). Climate, stakeholders, and economic
c). Ecological, economic, and social
Goal 17 of the Sustainable Development Goals is called “IMPLEMENTATION AND GLOBAL PARTNERSHIP.” What is the main purpose of this goal?
a). To globalize the world as much as possible
b). To implement partnerships with the world
c). All global goals can become reality only through global cooperation
d). To exchange knowledge with each other
c). All global goals can become reality only through global cooperation
Which of the following eco-labels is NOT based on third-party certification?
a). Type 1 - Ecolabeling
b). Type 2 - Self-declarations
c). Type 3 - Environmental declarations
d). None, all eco-labels are based on third-party certification
b). Type 2 - Self-declarations
Which of the following areas is NOT a focus area for ISO 26000 (organizational responsibility)? Please select the option that you believe fits best in this case.
a). Charity
b). Environment
c). Working conditions
d). Human rights
a). Charity
Corruption is an important concept within CSR. Which of the following statements is an example of corruption?
a). An employee is promoted based on performance and achieved goals
b). A company recruits new employees according to predetermined criteria
c). A company sets requirements for working conditions in its value chain
d). A municipality procures construction projects and only shows documents to those who pay the clerk
d). A municipality procures construction projects and only shows documents to those who pay the clerk
Why is biodiversity important?
a). It negatively affects human well-being
b). It ensures the stability and resilience of ecosystems
c). It increases economic growth
d). It promotes the emissions of greenhouse gases
b). It ensures the stability and resilience of ecosystems
It is common for companies to utilize external expertise in their operations. What is the main reason for this?
a). Skill supply.
b). Skill shortage.
c). Flexibility.
d). Cost savings.
d). Cost savings.
What does the Co-Determination Act (MBL) mean for the employee?
a). Right to relocation in case of changed tasks.
b). Influence over the formulation of holiday conditions.
c). Right to information and consultation in case of changed job content.
d). Influence over work being conducted according to prevailing labor law.
c). Right to information and consultation in case of changed job content.
Which of the following is correctly linked to a value chain?
a). A company always strives to increase its own part of the value chain
b). There is always the most value added closest to the end customer
c). A company must work with both outsourcing and insourcing
d). Vertical integration means that a company takes care of a larger part of its value chain
d). Vertical integration means that a company takes care of a larger part of its value chain
What is NOT true about the “laggards” group related to the innovation diffusion lifecycle?
a). Also called technology skeptics
b). Consider it important not to follow trends
c). Do not switch to new technology until it is technically or economically necessary
d). Are technologically conservative and prefer to maintain the status quo
b). Consider it important not to follow trends
Where in the Boston Matrix can a product be placed that is in the growth stage but does not yet have a large market share?
a). Question mark
b). Unknown
c). Cash cow
d). Star
a). Question mark
Which of the following is NOT an example of conventional leadership?
a). Demand and Reward
b). Control
c). Laissez-Faire
d). All of the above are examples of conventional leadership
c). Laissez-Faire
Equality is about both men and women. Why is it still the case that equality efforts within industry and supply chains mostly seem to focus only on women?
a). In experience, men find equality to be an awkward subject.
b). In experience, equality is a theme that fits women’s psyche.
c). In experience, women’s situation otherwise gets overlooked.
d). Men do not need equality.
c). In experience, women’s situation otherwise gets overlooked.
When did women start working in the industry?
a). When China and other Asian countries became dominant in the manufacturing industry.
b). During World War II when men were needed in the military and defense.
c). During the 1970s when gender equality became popular.
d). When the Industrial Revolution started in the 18th century.
d). When the Industrial Revolution started in the 18th century.
Spence’s game theory states that an employer assesses job applicants based on signals and cues. What does he mean by cues?
a). Competencies that an individual can invest in, such as education, work experience.
b). External characteristics that each individual possesses, such as gender, dialect.
c). 50% of an individual’s personal competence.
d). Areas that need improvement by providing decision-makers with detailed information.
b). External characteristics that each individual possesses, such as gender, dialect.
Where do you find the following definition of equality: “Equal treatment of women and men”?
a). Sweden’s national gender equality goals.
b). European Institute for Gender Equality index.
c). Mike Spence’s game theory.
d). ISO 26000.
a). Sweden’s national gender equality goals.
What is meant in EIGE’s index by “intersecting forms of inequality”?
a). How country of birth and family type intersect.
b). How factors such as disability, age, education level, country of birth, and family type intersect with gender to create different paths in women’s and men’s lives.
c). How equality, age, and education level intersect to create wage gaps between women and men.
b). How factors such as disability, age, education level, country of birth, and family type intersect with gender to create
To grasp the issues of gender equality in the industrial economy, you need to be able to navigate through the tangle of statements circulating. Why?
a). To be able to say what is politically correct.
b). Because it’s a legal requirement.
c). To be able to identify relevant facts.
d). Because it’s included in the national gender equality goals.
c). To be able to identify relevant facts.
