THE AFFILIATION OF ORGANIZATION EXECUTIVES
The Business Environment
SPECIMEN PROBLEM PAPER
Response any 4 questions
Q1 (a) Explore the main features of a вЂfully-planned economy'. (10 marks) (b) Discuss why in practice it truly is more likely a country may have a вЂmixed economy'. (15 marks)
(Total 25 marks)
Q2 (a) Discuss why an interventionist approach continues to be favoured by the European Union in the relations with industry. (15 marks) (b) Review the dangers of having large and economically-powerful trading blocs. (10 marks)
(Total 25 marks)
Q3 Make clear the affirmation вЂas supply and demand for a product improvements, so really does its offering price'. (Total 25 marks)
Q4 Assess the strategies accessible to a business trying to achieve competitive advantage. Answers should be recognized with relevant examples. (Total 25 marks) Q5 Using examples, go over the two key types of compulsory taxation and check out their roles within national economies. (Total 25 marks) Q6 Assessment the causes and potential conditions that can be brought on by high economic growth. (Total 25 marks)
Q7 Make clear the importance of competitor research and check out the key problems that need to be resolved for this kind of analysis to work. (Total 25 marks) Q8 In the framework of the Sale for Goods, explain the following conditions commonly throughout a contract:
(a) Form of agreement (5 marks)
(b) Requirements (5 marks)
(c) The liability (5 marks)
(d) Appropriate law (5 marks)
(e) Legal actions (5 marks)
(Total twenty-five marks)
THE ASSOCIATION OF BUSINESS PROFESSIONALS
The business enterprise Environment
EXAMPLE OF BEAUTY ANSWERS
Q1 (a) Explore the main attributes of a fully-planned economy. There are two extreme conditions of monetary systems вЂ“ one of which is the fully-planned economy. These are generally ones when the State possesses the means of production. As well as the State determines the answers to three simple questions:
вЂў What is to get produced?
вЂў How you should be developed?
вЂў Intended for whom will it be produced?
Within a fully-planned economic climate the basic decisions about the availability and circulation of goods and services are all determined by the political machinery of the Condition. It is the Express which has to suit production and consumption. This will likely be less difficult if usage is controlled to match precisely what is produced. This kind of avoids the need to find out what services and goods a community desires. While the major force may be the State, makers also have greater power and influence than consumers. In practice, a fully-planned economy may have considerable significance for the political structure of the country within which in turn it is practised. In particular the state of hawaii will have enormous problems in organising production and distribution.
(b) Discuss why in practice it is more likely that a country will have a mixed economic climate. The extreme opposing to a fully-planned economy is known as a pure marketplace economy. However in a modern community this is almost impossible to achieve. Most economies will be in practice merged economies, by which some decisions relating to development, distribution and consumption are made by the political machinery of the State, departing the majority to be determined by the interaction of supply and demand. Nonetheless it must be kept in mind that several sectors with the economy will be subject to Point out planning and control. The basis for identifying the functionality of a merged economy is derived from the need for require (derived from your wants in the consumers) and supply (derived to get producers' intentions) to communicate and obtain some degree of balance.
A mixed economic system offers the most practical solution since, during your stay on island are obvious benefits in allowing much of the economy to become driven by supply and demand, the State is able to intervene to increase monetary efficiency by simply correcting situations where markets do not efficiently perform their very own co-coordinating function. They are also able to take some role in re-distributing riches and therefore transfuse some component of...