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Exam Style Questions Chapter 1-1

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27 views

Exam Style Questions Chapter 1-1

Uploaded by

cayesha.2014.ksa
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Q1

A: Buinsess combines the factors of production to make products or services


which satisfy peoples wants and needs and makes profits as well.

B:

1.Land (shop or workshop)

2.Labour (Aditit and Abha her friends)

3.Capital (machines and equipment or money)

C:

1. The loss of the income from a job which she could have taken.

2. The loss of interest money she could receive by keeping her savings in a bank
account.

D:

Advantage:

Gowri can get things done quickly with fewer mistakes.

Disadvantage:

Gowri will not be able to continue production if one of worker is absent

Or

Workers will get bored and demotivated by repetitive tasks.

E:

Gowri has decided to start her own business and that is challenging.Gowri
business will be able to sell the clothes if the people liked her style of designing
and they found it different from the other competitors.However,even if Gowri is
confident and skilled there are chances that her friends will not be as good
workers as she is and this will make quality suffer and people may not like her
product. I still think that people will like clothes made by her as she has talent and
there will be people who would prefer different clothes.

Q2

a. Added value is the difference between selling price and bought in raw
materials .
b. 1 a new mixer for bakery.
2 money spent on decorations of bakery.
3 better packaging boxes.

c.

1.All workers would be able to do all tasks and in absence of one worker the
production will not stop.

2.No time will be wasted in waiting all workers will remain busy in different task
all the time.

1.keep the cost of raw material same just make the packaging fancier and
increase the selling price.

2.Ruduce the cost of raw material just provide more variety of cakes and more
flavors and keep selling price the same.

E.

Mohammad is advised by his friend to serve in shop all by himself and leave the
workers for baking etc. It can be a good idea as Mohammad will be directly in
contact with customers. It will help him build good relations and loyal customers.
It will also enable him to get the customers feedback and bring
improvements.However,the workers may waste time sitting idle as Mohammad
will be not around. It can also reduce the quality of products as he is not there to
keep a check. I don’t agree with Mohammad’s friend I think he should be
present in baking place and bakery too with some workers instead of being
alone.it will keep services faster and efficient.

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