2021 Gr 11 BSTD Term 1 Pre-Test PDF

**Business Studies** **Grade 11** **Term 1** **Pre\_Test** 1\. Study the list of components below and indicate whether the component factors refer to **micro**, **[market]** or **macro** environments. **Components** **Answer** ------ ------------------------------ --...

**Business Studies** **Grade 11** **Term 1** **Pre\_Test** 1\. Study the list of components below and indicate whether the component factors refer to **micro**, **[market]** or **macro** environments. **Components** **Answer** ------ ------------------------------ ------------ 1.1 Consumer Market 1.2 Political Macro 1.3 Vision. Mission & Objectives Micro 1.4 Suppliers Market 1.5 Intermediaries Market 1.6 Economic Macro 1.7 Organisational structure Micro 1.8 Competitors Market 1.9 Legal Macro 1.10 Organisation culture Micro \[10\] **2. Fill in the missing word: Ways in which businesses can be involved in the macro environment** **Statement** **Answer** ----- ------------------------------------------------------------------------------------------------------- --------------------- 2.1 Business needs to work within all the... set up by Government. Laws or regulations 2.2 Political environment is subject to... change. constant 2.3 Business must ensure that they have all the... they can find about the people they are dealing with. information 2.4 Business needs to keep up with the... technologies latest 2.5 Many new businesses have become successful by providing more... friendly products or services. environmentally \[5\] **3. Fill in the missing word: Difficult employees are a challenges in the micro environment, because:** **Statement** **Answer** ----- --------------------------------------------- --------------- 3.1 They cannot... in a team. work 3.2 They create... with other employees. conflict 3.3 They have a poor work ethic and low... productivity. 3.4 They leave the organisation after being... trained. \[4\] **4. Provide a term/concept for each of the descriptions below:** **Descriptions** **Answer** ----- --------------------------------------------------------------------------------------------------------------------------------------------------- --------------------- 4.1 Persuading individuals or groups with decision-making power to support a position you believe is right. lobbying 4.2 Business tries to invest its money in such a way that its value grows at a faster rate than inflation. hedging 4.3 Public organization or government agency that is set up to exercise a regulatory function. Regulatory Body 4.4 Interaction with other to exchange ideas and information, to develop professional contacts and to give and get advice from other business people. Networking 4.5 The ability of one group or a person to control others Power relationships \[5\] **5. Indicate whether the following refers to the Primary, Secondary or Tertiary Sector** **Statements** **Answer** ----- ---------------------------------------------------------------------------------------------- ------------ 5.1 This sector deals with extraction of raw materials and natural resources. Primary 5.2 The services range from transport, banking and health Tertiary 5.3 This sector processes raw materials into finished goods Secondary 5.4 This sector renders services to the public and businesses/provides auxiliary services. Tertiary 5.5 It comprises of manufacturing factories, construction and energy generation. Secondary 5.6 It makes use of natural resources direct from nature, such as gold, coal, fish and livestock Primary \[6\] **6. Provide one term for the following descriptions:** **Statements** **Answer** ----- -------------------------------------------------------------------------------------------------------------------------------------------------- ----------------------------- 6.1 The document outlining the rights, responsibilities and duties of shareholders and directors are set out (serves as a co-creation of a company). Memorandum of Incorporation 6.2 Prospectus is a document that invites the public to buy securities /shares. Prospectus 6.3 Stocks and bonds issued by a company. Securities \[3\] **7. Match the statement in Column B, with the concept in Column A** **Column A** **Column B** **Answer** ----- -------------- --- ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------- ------------ 7.1 Incentive A A symbol, word or words that are registered or established lawfully used as a company or product. D 7.2 Franchising B The established reputation of a company that is considered a measurable asset and is calculated as part of its value when it is sold E 7.3 Outsourcing C expenses associated with running a business that cannot be linked to the manufacture of a product or service. G 7.4 Leasing D A payment or concession to stimulate greater production F 7.5 Overheads E The right a business has to use the name, trademark, ideas, processes and goodwill of an existing business in a specific geographic area in order to sell goods or services C 7.6 Goodwill F Contract outlining the terms under which one party agrees to rent property owned by another party. B 7.7 Trademark G The award of a contract for any job function, job or process by employees in a business can be carried out, to a third party. A \[7\] **TOTAL: 40**