Q27. An organisation is…

Q28. Continuously gathering and analysing intelligence from sources such as professional, industry and trade journals, websites, conferences and exhibitions, published reports and online databases is called:

Q29. Thinking of Michael Porter’s Industry Structure Analysis (commonly referred to as Five Forces Analysis), the content of the centre circle is about:

Q30. Think carefully.
There is low consumer demand; production capacity is unused; prices are stable or are falling; busi-ness profits are low; unemployment is high; and business confidence is low. Is this:

Q31. ‘Price’ and ‘payment terms’ are the same thing.
True or false?

Q32. ‘The social responsibility of business is profit maximisation’ – focusing on returns to shareholders.
This is a famous business philosophy – in contrast to a philosophy of Corporate Social Responsibility as expounded by CIPS.
Which economic and management thinker famously promoted this view?

Q33. Which of the following would not normally be seen as part of public sector procurement?

Q34. The study of population and population trends is called:

Q35. Pressure groups which seek to promote a particular issue, such as human rights, the environment; or raise awareness (eg modern slavery); or lobby for legislative change on a particular issue (eg species protection) are called:

Q36. Which of the following might result from increased costs of production (especially wages) without increased demand, so that producers have to increase their prices to maintain profitability?

Q37. The system by which organisations are directed and controlled, thinking about business ethics and stakeholder responsibility, and where Directors may be held to account, is called:

Q38. In one format for describing socio-economic groupings, skilled, semi-skilled and unskilled working class people would be classified as:

Q39. Monetary policy deals with:

Q40. A ‘mixed economy’ is:

Q41. The ‘five forces’ model is also known as an ‘Industry Structure Analysis’.
True or false?

Q42. On a diagram of the Product Life Cycle, the x-axis shows:

Q43. A ‘genuine pre-estimate of loss’ describes:

Q44. Which of the following is likely to reduce ‘capital growth’? Select all that apply.

Q45. Thinking about supply and demand, there is one price at which producers wish to sell the same amount as customers wish to buy: in other words, the market ‘clears’, without either a surplus of supply or unsatisfied demand. This price is called the – – – – – – – – price.