Question #1
The Equality Act in the UK was introduced in which year?
- A . 2019
- B . 2001
- C . 2010
- D . 2011
Correct Answer: C
C
Explanation:
The Act was introduced in 2010. Although this is a UK-centric question, it is valid for several rea-sons. Firstly, the UK was one of the first countries to introduce such a wide-ranging Act; secondly the Act is so wide-ranging that all UK managers need to be familiar with it. People who live and work outside the UK may wish to familiarise themselves with the content of the Act to have an idea of what the impact of such legislation might be like.
Interestingly, in the UK, the Act has seldom been used ‘in anger’.
C
Explanation:
The Act was introduced in 2010. Although this is a UK-centric question, it is valid for several rea-sons. Firstly, the UK was one of the first countries to introduce such a wide-ranging Act; secondly the Act is so wide-ranging that all UK managers need to be familiar with it. People who live and work outside the UK may wish to familiarise themselves with the content of the Act to have an idea of what the impact of such legislation might be like.
Interestingly, in the UK, the Act has seldom been used ‘in anger’.
Question #2
Sources of finance for a public sector entity are primarily (select one):
- A . Sales revenues
- B . Taxpayers
- C . Long-term bank loans
- D . Delaying payments to suppliers
Correct Answer: B
B
Explanation:
The correct answer is ‘taxpayers’. On occasion, part of a public sector organisation may make sales which will generate revenue. In some mega-projects (eg power generation), public sector bodies will sometimes into long-term arrangements with private sector financiers, but this is not the mainstream. Delaying payments to suppliers is a tactic used by some organisations, but they are more likely to be private sector, and such a practice is regarded as unethical by many, including CIPS.
B
Explanation:
The correct answer is ‘taxpayers’. On occasion, part of a public sector organisation may make sales which will generate revenue. In some mega-projects (eg power generation), public sector bodies will sometimes into long-term arrangements with private sector financiers, but this is not the mainstream. Delaying payments to suppliers is a tactic used by some organisations, but they are more likely to be private sector, and such a practice is regarded as unethical by many, including CIPS.
Question #3
Which of the following would be / should be subject to health and safety legislation?
- A . All of them
- B . Smoking cigarettes inside offices, factories and other buildings
- C . The manual lifting of heavy objects
- D . Floors, passages and stairs should be properly constructed, maintained and kept clear
- E . The need for appropriate firefighting equipment in a factory
Correct Answer: A
A
Explanation:
All of these.
A
Explanation:
All of these.
Question #4
The letters ‘NFP’ mean…
- A . Newly focused (on) profit
- B . Not for procurement
- C . Non-funded purchase
- D . Not-for-profit
Correct Answer: D
D
Explanation:
The answer is ‘not-for-profit’, meaning ‘third sector’ (charities, co-operatives, NGOs, etc). This is not the same as ‘public sector’. You should be clear on this terminology.
D
Explanation:
The answer is ‘not-for-profit’, meaning ‘third sector’ (charities, co-operatives, NGOs, etc). This is not the same as ‘public sector’. You should be clear on this terminology.
Question #5
On a diagram of the Product Life Cycle, the x-axis shows:
- A . Growth
- B . Time
- C . Decline
- D . Profit
Correct Answer: B
B
Explanation:
The x-axis shows time. For some products, it may represent a year; for others, a century.
The other answers given could all be shown on the y-axis of the PLC, depending on circumstances.
B
Explanation:
The x-axis shows time. For some products, it may represent a year; for others, a century.
The other answers given could all be shown on the y-axis of the PLC, depending on circumstances.
Question #6
Doing the same with fewer resources is:
- A . Efficiency
- B . Effectiveness
- C . Economy
- D . Efficiency.
Correct Answer: A
A
Explanation:
Economy is most easily thought of as paying less, hopefully with no loss of quality, service, etc Effectiveness is most easily thought of as achieving the right outputs.
What one really seeks is effectiveness. Unfortunately it is possible to be efficient without being ef-fective. An example from my work life is the collection of statistics / ‘returns’. I have come across parts of organisations which were very efficient at collecting data, but the data were not used in any meaningful way – the outputs of the efficiency did not add value and did not create useful outputs. There was a lack of effectiveness. The distinction is worthwhile, I think.
A
Explanation:
Economy is most easily thought of as paying less, hopefully with no loss of quality, service, etc Effectiveness is most easily thought of as achieving the right outputs.
What one really seeks is effectiveness. Unfortunately it is possible to be efficient without being ef-fective. An example from my work life is the collection of statistics / ‘returns’. I have come across parts of organisations which were very efficient at collecting data, but the data were not used in any meaningful way – the outputs of the efficiency did not add value and did not create useful outputs. There was a lack of effectiveness. The distinction is worthwhile, I think.
Question #7
Thinking of Michael Porter’s Industry Structure Analysis (commonly referred to as Five Forces Analysis), the content of the centre circle is about:
- A . Governmental regulation of competition within an economy
- B . Competitive rivalry within the industry
- C . Governmental interference in an industry
- D . Competitor price-cutting to increase market share
Correct Answer: B
B
Explanation:
Competitive rivalry within an industry.
This can be quite an important point, and why I have such a dislike of the less formal title for the model – the model is about entire industries, not just about a single firm – this is commonly misun-derstood by students (and sadly, some tutors) – and the original Porter title – ‘Industry Structure Analysis’ – helps us understand that, I think. I find this tool of analysis to be very helpful in under-standing behaviour within sectors, despite criticism of the model and its age from some commenta-tors
The other answers shown are mere fictions.
B
Explanation:
Competitive rivalry within an industry.
This can be quite an important point, and why I have such a dislike of the less formal title for the model – the model is about entire industries, not just about a single firm – this is commonly misun-derstood by students (and sadly, some tutors) – and the original Porter title – ‘Industry Structure Analysis’ – helps us understand that, I think. I find this tool of analysis to be very helpful in under-standing behaviour within sectors, despite criticism of the model and its age from some commenta-tors
The other answers shown are mere fictions.
Question #8
As well as a Goods Received Note (GRN), three-way matching to authorise a payment to a supplier should involve two other documents.
Which two?
- A . Service Level Agreement
- B . Invoice
- C . Purchase Order
- D . Bill of Materials
Correct Answer: B, C
B, C
Explanation:
The GRN, invoice and PO should all match to enable payment to occur.
The BoM will help calculate the extent of the requirement, prior to the PO being issued.
An SLA will help ensure adequate and contractual delivery of any services required.
B, C
Explanation:
The GRN, invoice and PO should all match to enable payment to occur.
The BoM will help calculate the extent of the requirement, prior to the PO being issued.
An SLA will help ensure adequate and contractual delivery of any services required.
Question #9
‘Trade within major trading blocs tends to expand, whereas this is not necessarily the case regarding trade between major trading blocs’. True or false?
- A . True
- B . False
Correct Answer: A
A
Explanation:
This is true.
The purpose of creating or entering into a trading bloc is to increase the volumes of trade between countries within that bloc. This is irrespective of trade between blocs, which may grow or not, de-pending on circumstances.
A
Explanation:
This is true.
The purpose of creating or entering into a trading bloc is to increase the volumes of trade between countries within that bloc. This is irrespective of trade between blocs, which may grow or not, de-pending on circumstances.
Question #10
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:
- A . Recovery
- B . Recession
- C . Boom
- D . Depression
Correct Answer: D
D
Explanation:
This is a description of a depression – the worst of all economic situations, which governments will do almost anything to avoid.
A recession is a decline in the performance of the economic factors mentioned (unemployment ris-es), and technically in the UK, a recession would be two successive quarters of decline (reducing
economic activity / reducing GDP). A recovery is coming out of recession, and a boom is when the economy is in the opposite state to the depression shown in the question. Generally, an economy’s behaviour is cyclical.
D
Explanation:
This is a description of a depression – the worst of all economic situations, which governments will do almost anything to avoid.
A recession is a decline in the performance of the economic factors mentioned (unemployment ris-es), and technically in the UK, a recession would be two successive quarters of decline (reducing
economic activity / reducing GDP). A recovery is coming out of recession, and a boom is when the economy is in the opposite state to the depression shown in the question. Generally, an economy’s behaviour is cyclical.
Question #11
‘The value of a commodity or service measured in terms of the standard monetary unit’ describes:
- A . Value for money
- B . Price
- C . Value added
- D . Cost
Correct Answer: B
B
Explanation:
The definition shown refers to the word ‘price’. The price is what someone will pay for something – the extent to which a customer values something – and the reference to the standard monetary unit refers to, for example, a dollar, a Euro, a dinar or whatever.
The other answers are, to some extent, intended to confuse, as they use some of the words shown in the definition. Care must be taken not to jump to a conclusion here.
The response ‘cost’ should give pause for thought, as, in a sense, the cost of doing or making some-thing may have value. But value is determined by the customer – this definition is a reference to the value the customer would pay – the price.
B
Explanation:
The definition shown refers to the word ‘price’. The price is what someone will pay for something – the extent to which a customer values something – and the reference to the standard monetary unit refers to, for example, a dollar, a Euro, a dinar or whatever.
The other answers are, to some extent, intended to confuse, as they use some of the words shown in the definition. Care must be taken not to jump to a conclusion here.
The response ‘cost’ should give pause for thought, as, in a sense, the cost of doing or making some-thing may have value. But value is determined by the customer – this definition is a reference to the value the customer would pay – the price.
Question #12
Which of the following is least risky from the buyer’s viewpoint?
- A . Payment on delivery
- B . Payment of 50% at time of order; with balance to be paid 90 days after delivery
- C . Payment in full at time of order
- D . Payment 60 days after delivery
Correct Answer: D
D
Explanation:
Payment (the implication here is ‘in full’) 60 days after delivery allows the buying organisation time to check the goods carefully, and possibly even use them in that time.
All of the other options would require the buyer to part with money prior to holding the goods, thus exposing that sum to risk. The least risky from the buyer’s viewpoint is therefore after 60 days. Particularly hazardous would be payment at time of order.
D
Explanation:
Payment (the implication here is ‘in full’) 60 days after delivery allows the buying organisation time to check the goods carefully, and possibly even use them in that time.
All of the other options would require the buyer to part with money prior to holding the goods, thus exposing that sum to risk. The least risky from the buyer’s viewpoint is therefore after 60 days. Particularly hazardous would be payment at time of order.
Question #13
A market situation where there is only one buyer in the marketplace is called:
- A . Perfect competition
- B . Oligopoly
- C . Monopoly
- D . Monopsony
Correct Answer: D
D
Explanation:
A market with only one buyer is called a ‘monopsony’.
There may be other questions in this test about the other terms shown, so I shall hold back on expla-nation(s) here.
D
Explanation:
A market with only one buyer is called a ‘monopsony’.
There may be other questions in this test about the other terms shown, so I shall hold back on expla-nation(s) here.
Question #14
‘Shareholders are an example of stakeholders’. True or false?
- A . True
- B . False
Correct Answer: A
A
Explanation:
Shareholders are one example of a range of stakeholders in a private or public limited company.
A
Explanation:
Shareholders are one example of a range of stakeholders in a private or public limited company.
Question #15
A contract clause which entitles the buyer to hold back 5% of the final price for six months to en-sure everything is in order is known as a ——— clause:
- A . Retention
- B . Redemption
- C . Intention
- D . Retainer
Correct Answer: A
A
Explanation:
‘Retention’ – from the word ‘retain’, meaning to ‘keep in place’, ‘hold back’, ‘keep possession of’ something (Concise Oxford Dictionary, fifth edition) . In this case, 5% of the contract price.
A
Explanation:
‘Retention’ – from the word ‘retain’, meaning to ‘keep in place’, ‘hold back’, ‘keep possession of’ something (Concise Oxford Dictionary, fifth edition) . In this case, 5% of the contract price.
Question #16
Which one of the following is a commercial document issued by a seller seeking payment for goods or services?
- A . Invoice
- B . Supplier quotation
- C . Pre-qualification questionnaire
- D . Delivery note
Correct Answer: A
A
Explanation:
This should be straightforward.
If unclear, check your notes / textbook.
A
Explanation:
This should be straightforward.
If unclear, check your notes / textbook.
Question #17
The total variety of life on Earth’ is CIPS’ definition of:
- A . Depletion of renewables
- B . Biodiversity
- C . The environment
- D . Corporate Social Responsibility
Correct Answer: B
B
Explanation:
Biodiversity is significantly under threat, with many species being lost almost daily on Earth.
The other answers given in response to this question, whilst they can be seen as being broadly related do not fit the bill precisely.
The BBC’s one-hour documentary (2020) ‘Extinction – The Facts’ explains in all-too-chilling detail the meaning of biodiversity, and is recommended viewing for all.
B
Explanation:
Biodiversity is significantly under threat, with many species being lost almost daily on Earth.
The other answers given in response to this question, whilst they can be seen as being broadly related do not fit the bill precisely.
The BBC’s one-hour documentary (2020) ‘Extinction – The Facts’ explains in all-too-chilling detail the meaning of biodiversity, and is recommended viewing for all.
Question #18
‘Price’ and ‘payment terms’ are the same thing.
True or false?
- A . False
- B . True
Correct Answer: B
B
Explanation:
An easy question.
Price is what the customer will pay for goods or services eg fifty dollars; payment terms are the arrangements under which you pay the price eg in advance, on delivery, 30 days, 60 days, etc. Although this may seem rather obvious, I have encountered a surprising number of people who seem to confuse the two.
B
Explanation:
An easy question.
Price is what the customer will pay for goods or services eg fifty dollars; payment terms are the arrangements under which you pay the price eg in advance, on delivery, 30 days, 60 days, etc. Although this may seem rather obvious, I have encountered a surprising number of people who seem to confuse the two.
Question #19
‘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?
- A . John Milton
- B . Milton Friedman
- C . John Maynard Keynes
- D . Milton Keynes
Correct Answer: B
B
Explanation:
It was Milton Friedman who promoted this view in the second half of the 20th century. This view is now less popular than it was. ‘The business of business is business’ is another famous quote from Professor Friedman, meaning profit maximisation is what business should be concerned with, not broader social or welfare issues. This thinking takes the view that governments can legislate as necessary to cater for society’s needs, funding such activities from taxation placed on successful profit-able businesses.
Milton Keynes is a place in UK; J M Keynes was a famous economist who took a different view to Friedman’s and John Milton is a famous 17th century English poet.
B
Explanation:
It was Milton Friedman who promoted this view in the second half of the 20th century. This view is now less popular than it was. ‘The business of business is business’ is another famous quote from Professor Friedman, meaning profit maximisation is what business should be concerned with, not broader social or welfare issues. This thinking takes the view that governments can legislate as necessary to cater for society’s needs, funding such activities from taxation placed on successful profit-able businesses.
Milton Keynes is a place in UK; J M Keynes was a famous economist who took a different view to Friedman’s and John Milton is a famous 17th century English poet.
Question #20
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?
- A . Demand-pull inflation
- B . Cost-push inflation
- C . Monetary inflation
- D . Stagflation
Correct Answer: B
B
Explanation:
Inflation, in this case, is created by the increased cost of production coming through into the economy.
The other answers are essentially names of alternative types of inflation.
B
Explanation:
Inflation, in this case, is created by the increased cost of production coming through into the economy.
The other answers are essentially names of alternative types of inflation.
Question #21
The abbreviation ‘SME’ stands for …
- A . Small and medium-sized entity
- B . Small and medium-sized enterprise
- C . Supply management enterprise
- D . Single-minded entrepreneur
Correct Answer: C
C
Explanation:
This is the standard definition, widely used, and given in your textbook.
C
Explanation:
This is the standard definition, widely used, and given in your textbook.
Question #22
In which one of the following sectors would you least expect to find seasonal unemployment:
- A . Policing
- B . Construction
- C . Agriculture
- D . Tourism
Correct Answer: A
A
Explanation:
Agriculture and tourism are normally associated with high levels of seasonal employment, and hence to some extent, unemployment.
Construction also often has an element of seasonality. For example, there is a saying in Alaska: ‘there are two seasons – winter and construction’, although in some less extreme climates construction carries on year-round.
In most situations, we normally expect police employment levels to be relatively consistent through-out the year.
A
Explanation:
Agriculture and tourism are normally associated with high levels of seasonal employment, and hence to some extent, unemployment.
Construction also often has an element of seasonality. For example, there is a saying in Alaska: ‘there are two seasons – winter and construction’, although in some less extreme climates construction carries on year-round.
In most situations, we normally expect police employment levels to be relatively consistent through-out the year.
Question #23
Fiscal policy deals with:
- A . Government decisions and actions regarding the number of staff members employed in the government Treasury
- B . Government decisions and actions regarding the level of interest rates and supply of money in the economy
- C . Government decisions and actions regarding the balance between taxation revenue and public expenditure
- D . Government decisions and actions regarding exchange rates and unemployment in the economy
Correct Answer: C
C
Explanation:
The correct answer simply describes what fiscal policy is.
This topic is often mentioned or discussed in serious radio / TV news broadcasts.
C
Explanation:
The correct answer simply describes what fiscal policy is.
This topic is often mentioned or discussed in serious radio / TV news broadcasts.
Question #24
Which of the following is likely to reduce ‘capital growth’? Select all that apply.
- A . Increased sales
- B . Payment of high salaries and large allowances to senior managers
- C . Payment of dividends
- D . Increased profit
Correct Answer: B, C
B, C
Explanation:
Payment of high salaries and large allowances, may, fairly obviously reduce the amount of profit which can be retained for capital growth. If money is being distributed in this way, it isn’t being retained.
A profitable company has a choice: to pay dividends to a greater or lesser extent; or retain some of its profits to a greater or lesser extent in the form of retained capital – capital growth.
Increased sales and increased profit may result in increased capital growth, all other things being equal, depending on the firm’s dividend policy.
B, C
Explanation:
Payment of high salaries and large allowances, may, fairly obviously reduce the amount of profit which can be retained for capital growth. If money is being distributed in this way, it isn’t being retained.
A profitable company has a choice: to pay dividends to a greater or lesser extent; or retain some of its profits to a greater or lesser extent in the form of retained capital – capital growth.
Increased sales and increased profit may result in increased capital growth, all other things being equal, depending on the firm’s dividend policy.
Question #25
‘The optimum combination of whole life costs and quality’ is one definition of:
- A . Quality circles
- B . Life cycle costing
- C . Contractual agreement (in English law)
- D . Value for money
Correct Answer: D
D
Explanation:
An earlier widely-used definition of value for money as the right combination of price and quality has been updated to include the notion of whole-life costing. The other answers shown are simply ‘red herrings’.
D
Explanation:
An earlier widely-used definition of value for money as the right combination of price and quality has been updated to include the notion of whole-life costing. The other answers shown are simply ‘red herrings’.
Question #26
‘A – – – – – – – – is a price in which the supplier and buyer agree that the supplier can charge a price based on actual costs incurred, plus a margin for profit’.
- A . A whole life cost
- B . A target cost incentive price
- C . A fixed price
- D . A cost-based price
Correct Answer: D
D
Explanation:
This should be an easy question. The definition describes nicely one possible form of cost-based price. It is important to try to be able to distinguish cost from price.
The ‘target cost incentive’ method of pricing might have been tempting as an answer, since the definition shown mentions cost, but it mentions neither target nor incentive, and can therefore be ruled out.
And whole life cost is a different concept altogether.
D
Explanation:
This should be an easy question. The definition describes nicely one possible form of cost-based price. It is important to try to be able to distinguish cost from price.
The ‘target cost incentive’ method of pricing might have been tempting as an answer, since the definition shown mentions cost, but it mentions neither target nor incentive, and can therefore be ruled out.
And whole life cost is a different concept altogether.
Question #27
Because of the need for frequent or semi-frequent uses of competition, public sector buyers are less likely to find themselves in a close partnership arrangement with a supplier than private sector buyers. True or false?
- A . False
- B . True
Correct Answer: B
B
Explanation:
This is true.
B
Explanation:
This is true.
Question #28
‘Open tendering may impose a substantial administrative burden on the procurement function.’ True or false?
- A . True
- B . False
Correct Answer: A
A
Explanation:
Because a wide range of organisations (or even individuals) may respond to an open tender, considerable administrative resource may have to be devoted to analysing offers.
A
Explanation:
Because a wide range of organisations (or even individuals) may respond to an open tender, considerable administrative resource may have to be devoted to analysing offers.
Question #29
A ‘mixed economy’ is:
- A . One which is confused
- B . One in which private and public sectors operate together
- C . A market economy
- D . A centrally-planned economy
Correct Answer: B
B
Explanation:
It is an economy in which the public and private sectors work together. This is now the norm in most countries, with private sector involvement to a greater or lesser extent. In North Korea there is a (rare example of a) planned economy, and in the United States there is a heavily market-led (private sector) economy.
B
Explanation:
It is an economy in which the public and private sectors work together. This is now the norm in most countries, with private sector involvement to a greater or lesser extent. In North Korea there is a (rare example of a) planned economy, and in the United States there is a heavily market-led (private sector) economy.
Question #30
The Kyoto Agreement is about:
- A . Shipping freight rates
- B . Climate change
- C . Whale protection
- D . Fishing rights
Correct Answer: B
B
Explanation:
It is about climate change. The other answers are simply made up.
B
Explanation:
It is about climate change. The other answers are simply made up.
Question #31
Which of the following are ways of classifying organisations? (select all that apply)
- A . Activity
- B . Size
- C . Primary objective
- D . Structure and ownership
Correct Answer: A, B, C, D
A, B, C, D
Explanation:
All of these are ways of classifying organisations.
Examples: Retailers, SMEs, limited companies, etc
A, B, C, D
Explanation:
All of these are ways of classifying organisations.
Examples: Retailers, SMEs, limited companies, etc
Question #32
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:
- A . Corporate Identity
- B . Corporate Social Responsibility
- C . Corporate Manslaughter
- D . Corporate Governance
Correct Answer: D
D
Explanation:
Corporate Governance. Not to be confused with CSR.
Corporate identity relates to marketing and branding; corporate manslaughter is the concept of an organisation being criminally accountable for the deaths of humans through some lack of care. An example might be the deaths of rail company employees on the railway track, where the prosecution would attempt to show that it was the employers’ fault.
D
Explanation:
Corporate Governance. Not to be confused with CSR.
Corporate identity relates to marketing and branding; corporate manslaughter is the concept of an organisation being criminally accountable for the deaths of humans through some lack of care. An example might be the deaths of rail company employees on the railway track, where the prosecution would attempt to show that it was the employers’ fault.
Question #33
In terms of interest rates, the ‘base rate’ is:
- A . The interest rate set by government or the central bank of a country
- B . The interest rate stated within a contract of supply for late payments
- C . The interest rate payable on a loan for the procurement of a new instrument
- D . The interest rate used to calculate repayments on a credit card
Correct Answer: A
A
Explanation:
The base rate is often used as a basis for the calculation of other rates, some of which eg credit card repayment rates, bear no resemblance to the base rate. Some longer-term, perhaps more responsible, lending, uses changes in the base rate to determine a repayment rate for debt eg mortgage rates. For credit card repayment rates and for late payments in business contracts there is often a considerable amount of freedom to agree relevant rates, but government is often encouraged to influence to try to ensure some level of sanity.
The answer which references procurement of a new ‘instrument’ is an attempt at humour, ‘base’ being a type of guitar.
A
Explanation:
The base rate is often used as a basis for the calculation of other rates, some of which eg credit card repayment rates, bear no resemblance to the base rate. Some longer-term, perhaps more responsible, lending, uses changes in the base rate to determine a repayment rate for debt eg mortgage rates. For credit card repayment rates and for late payments in business contracts there is often a considerable amount of freedom to agree relevant rates, but government is often encouraged to influence to try to ensure some level of sanity.
The answer which references procurement of a new ‘instrument’ is an attempt at humour, ‘base’ being a type of guitar.
Question #34
Which of the following could be described as an organisation?
- A . A local authority / local government
- B . A self-employed tutor of online education
- C . The University of Phoenix, Arizona
- D . A business such as Ethiopian Airlines
Correct Answer: A, C, D
A, C, D
Explanation:
All except the self-employed tutor have a social arrangement with collective goals, and controls on performance.
The self-employed tutor may have a goal, but it is not collective; is not part of a(n internal) social arrangement and controls on performance may be entirely in their own hands, or perhaps even ab-sent altogether.
A, C, D
Explanation:
All except the self-employed tutor have a social arrangement with collective goals, and controls on performance.
The self-employed tutor may have a goal, but it is not collective; is not part of a(n internal) social arrangement and controls on performance may be entirely in their own hands, or perhaps even ab-sent altogether.
Question #35
The primary objective of a private sector organisation is…
- A . To boost national prestige
- B . To make profit
- C . To provide services
- D . To create jobs
Correct Answer: B
B
Explanation:
The primary objective of private sector is to create profit(s).
While the other answers may occur in private sector, they are not the primary objective.
B
Explanation:
The primary objective of private sector is to create profit(s).
While the other answers may occur in private sector, they are not the primary objective.