If the absolute value of the price elasticity of demand for dry white wine is greater than one, a decrease in the price of all wine would result in: A A more than proportional decrease in the quantity of dry white wine purchased B A less than prop

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• 1 Consumer surplus is: A The excess between what consumers are prepared to pay for a good or servic

   Consumer surplus is:

  A The excess between what consumers are prepared to pay for a good or service, and the prevailing market price

  B The indirect tax producers pay on a good or service

  C The marginal utility gained by consuming one more unit of a good or service

  D The indirect tax consumers pay on a good or service

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• 2Using the point method, what is the price elasticity of demand of product X as price falls from its

  Using the point method, what is the price elasticity of demand of product X as price falls from its current

  price of $20 to $15?

  Old New

  Price 20 15

  Quantity 10 15

  A 0.5

  B 1

  C 1.5

  D 2

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• 3The income elasticity of demand for a product is high. This means that: A Sales will fall only slig

  The income elasticity of demand for a product is high. This means that:

  A Sales will fall only slightly when incomes of households fall

  B Sales will rise sharply when incomes of households rise

  C The good is an inferior good

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• 4 (a) The main levels of strategy in an organisation are as follows: A Corporate B Business C Oper

   (a) The main levels of strategy in an organisation are as follows:

  A Corporate

  B Business

  C Operational

  For each of the strategic questions listed below, select the appropriate level of strategy from the list above

  (i) Which business should we be in?

  (ii) Should we specialise in a profitable product?

  (iii) How best can we market the products?

  (iv) Should we segment the market?

  (b) Which two of the following are advantages of centralisation?

  A Decision makers have a greater awareness of local problems

  B Managers are able to take a wider view

  C Avoids overburdening top managers

  D Help to develop junior managers

  E Procedures and documentation can be standardised

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• 5 (a) The following four components of an organisation were identified by Mintzberg A Operating core

   (a) The following four components of an organisation were identified by Mintzberg

  A Operating core

  B Support staff

  C Strategic apex

  D Middle line

  For each of the following jobs, state which component they fit into.

  (i) Canteen worker

  (ii) Production worker

  (iii) Sales manager

  (iv) Director

  (b) Which two of the following statements are not consistent with Handy's shamrock organisation?

  A Self-employed technicians should be hired on a project-by-project basis

  B The contingent work force consists of employees on long-term contracts

  C The professional core should consist of full-time, fixed salary employees

  D The organisation looks for ways that consumers can do part of the work of the organisation

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• 6(a) For each of the following tasks, select whether they are the responsibility of: A The financial

  (a) For each of the following tasks, select whether they are the responsibility of:

  A The financial accounting department

  B The treasury department

  (i) Arranging an overdraft

  (ii) Managing foreign currency exposure

  (iii) Recording financial transactions

  (iv) Cash budgeting

  (v) Reporting to shareholders

  (vi) Repaying loans

  (b) Markets for trading short-term financial instruments such as certificates of deposit are known as Which of the following correctly fills the gap above?

  A Money markets

  B Capital markets

  C Venture capital

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• 7 (a) Fill in the gaps in the King report’s summary of the role of the board below. (i) To define t

   (a) Fill in the gaps in the King report’s summary of the role of the board below.

  (i) To define the ________ of the company

  (ii) To define the ________ by which the company will perform its daily duties

  (iii) To identify the ________ relevant to the company

  (iv) To develop a ________combining these factors

  (v) To ensure ________ of the strategy

  (b) Which of the following is NOT part of the role of a company secretary?

  A Establishment and maintenance of a registered office

  B Filing of annual returns

  C Chairing management committee meetings

  D Maintaining statutory books and records

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• 8Which of the options below correctly fills the blank? A Undifferentiated marketing B Marketing mix

  Which of the options below correctly fills the blank?

  A Undifferentiated marketing

  B Marketing mix

  C Mass marketing

  D Market segmentation

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• 9根据行政法基本理论的规定，下列选项中属于损益行政行为的有(　　)。 A.吊销营业执照 B.罚款 C.行政强制拆

  根据行政法基本理论的规定，下列选项中属于损益行政行为的有(　　)。

  A.吊销营业执照

  B.罚款

  C.行政强制拆除行为

  D.行政给付

  E.确认或决定减免税

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• 10行政法的渊源，是指行政法律规范的外部表现形式和来源。下列有关行政法渊源的表述，正确的有(　　)。 A.宪法确

  行政法的渊源，是指行政法律规范的外部表现形式和来源。下列有关行政法渊源的表述，正确的有(　　)。

  A.宪法确认了行政机关在国家机构中的法律地位和行政体制

  B.税种的设立、税率的确定，只能有法律、法规来规定

  C.部门规章可以根据本部门实际情况减少本部门的法定职责

  D.自治区的自治条例和单行条例，报全国人大常委会批准后生效

  E.国际协定中涉及国内行政管理的部分，也属于行政法的渊源

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