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Which one of the following does not vary with output in the short-run?
Fixed costs
Total revenue
Variable costs
Total costs
Which one of the following will be a variable cost for a coffee shop?
Salary paid to the manager
Advertising costs
Ingredients for the cups of coffee
Rent paid for the premises
A business moves an employee to a different job. This is known as:
Delayering
Redeployment
Delegating
Redundancy
Ordinary shares traded on the stock exchange are those issued by:
Public sector organisations
Sole traders
Public limited companies
Private limited companies
Which of the following statements is true?
A soft approach to human resource management is likely to
An increase in interest rates is likely to lead to more d
A mission will have a more specific target than a busines
The population size is a demographic factor in the external
Which one of the following external factors is most likely to cause an increase in demand and a decrease in costs for a highly geared furniture retailer?
New competition entering the market
Increases in incomes for all workers in the country
A fall in the number of people of working age
A decrease in the rate of interest
A manager has a high concern for people and a low concern for production or task. According to Blake Mouton this manager is:
An impoverished leader
A middle of the road leader
A country club leader
A team leader
Based on Tannenbaum and Schmidt's continuum of leadership, in which part of the continuum does the manager have least authority?
Tell
Share/Joins
Consult
Sell
Despite a significant increase in its sales revenue, a product's market share falls from 60% to 50%. This product is a:
Problem child/question mark
Star
Cash cow
Dog
Penetration pricing is setting a price that is:
Often used in markets with high seller power
Associated with products with high income elasticity of dema
Intended to maximise the profit margin on each product
Often used when demand is price elastic
A business wishes to reduce its capacity. Which of the following actions is not a method that a business will use to achieve this aim?
Cutting back on capital equipment
D. Selling a factory to another business
Reducing output
Rationalising its labour force
A business replaces some of its workforce with machinery. This leads to a 10% increase in capacity and output and a 5% increase in unit costs. This is an example of:
More labour intensive production and economies of scale
More capital intensive production and diseconomies of scale
More labour intensive production and diseconomies of scale
More capital intensive production and economies of scale
In 2016 a business had 12 employees and produced 60 units of output. Its capacity utilisation was 75%. In 2017 it achieved 100% capacity output with the same labour force. Labour productivity per employee in 2017 was:
6
6.67 units
3.75 units
5 units
A factory has just experienced a zero level of inventory. It wishes to have a buffer level of inventory of 80 units. It uses 35 units per day and has a lead time of 5 days with its supplier. Its re-order level is:
175 units
80 units
255 units
95 units
Receivables are the value of:
Money owed to a business by its customers
A business's sales revenue
Money owed to suppliers by a business
Inventory held by a business
Which one of these changes would lead to an increase in the level of output needed to break-even? A decrease in:
Variable costs per unit
Fixed costs
Unit selling price
Margin of safety
