1.1 A person who recognises a business opportunity and is willing to take a risk:
A Labourer
B Manager
C Supervisor
D Entrepreneur
1.1.2 ONE of the following statements regarding selling is NOT CORRECT:
A Emphasis is on agricultural products
B Marketing management is based on sales volume
C Focus is on the needs of sellers
D Planning is long-term, based on new products for the future
1.1.3 … occurs at the point where the market supply and the market demand curves meet - NSC Agricultural Sciences - Question 1 - 2022 - Paper 2
Question 1
1.1 A person who recognises a business opportunity and is willing to take a risk:
A Labourer
B Manager
C Supervisor
D Entrepreneur
1.1.2 ONE of the following state... show full transcript
Worked Solution & Example Answer:1.1 A person who recognises a business opportunity and is willing to take a risk:
A Labourer
B Manager
C Supervisor
D Entrepreneur
1.1.2 ONE of the following statements regarding selling is NOT CORRECT:
A Emphasis is on agricultural products
B Marketing management is based on sales volume
C Focus is on the needs of sellers
D Planning is long-term, based on new products for the future
1.1.3 … occurs at the point where the market supply and the market demand curves meet - NSC Agricultural Sciences - Question 1 - 2022 - Paper 2
Step 1
A person who recognises a business opportunity and is willing to take a risk:
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Answer
The correct answer is D. Entrepreneur. This term refers to an individual who identifies business opportunities and is prepared to assume the risk involved in starting and managing a business.
Step 2
ONE of the following statements regarding selling is NOT CORRECT:
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Answer
The statement that is NOT CORRECT is C. Focus is on the needs of sellers. Effective selling should prioritize understanding and addressing customer needs.
Step 3
… occurs at the point where the market supply and the market demand curves meet.
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Answer
The correct answer is A. Market equilibrium, which is the state where the quantity supplied equals the quantity demanded.
Step 4
Cooperative marketing has the following advantages for farmers:
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Answer
The correct advantages are:
(i) A Produce over time - Provides better chances of negotiating a good price.
(ii) B Depreciates over time - Ensures easy access to funding.
Step 5
… is the main component of a cash flow statement:
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Answer
The main component is A. Income, which refers to the revenue generated from normal business operations.
Step 6
The use of machinery to replace human labour:
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Answer
The correct term is B. Mechanisation, which refers to the implementation of machinery to increase productivity.
Step 7
An example of a qualitative characteristic in animals:
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Answer
The correct answer is C. Gender of offspring, which is a qualitative trait distinguishing the sex of animals.
Step 8
... is the pattern of inheritance that controls the fur coat colour in rabbits with the alleles C, C', cch and c:
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The correct term is C. Multiple alleles, indicating that more than two alleles are involved in controlling a trait.
Step 9
Cooperatives market their goods in large quantities for more bargaining powers
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Answer
The correct answer is G. economy of scale, which refers to the cost advantages gained by companies when production becomes efficient.
Step 10
Entering into future contracts to ensure a secure market and price
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Answer
The correct answer is A. hedging, which involves making arrangements to prevent losses due to price fluctuations.
Step 11
The value of assets increasing over time
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Answer
The correct answer is H. appreciation, referring to the rise in value of an asset.
Step 12
Providing incentives and recognition of work done with rewards
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Answer
The correct answer is C. motivation, which is the process of encouraging employees through rewards.
Step 13
The genetic characteristics that give rise to a range of phenotypes from one extreme to the other
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Answer
The correct answer is D. quantitative, indicating traits that vary in degree and can be measured.
Step 14
A marketing plan is a tool that helps a farmer to evaluate the business for future prospects.
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Answer
The correct term is SWOT analysis, which evaluates strengths, weaknesses, opportunities, and threats.
Step 15
Management refers to the physical endeavour performed in expectation of remuneration.
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Answer
The correct term is Labour, which refers to the human work involved in the production process.
Step 16
Prepotency refers to the expression of one gene that is controlled by another of parents.
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The correct term is Epistasis, which is when one gene's expression is affected by another gene.
Step 17
A sudden change in the genetic composition of an organism is known as evolution selection.
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The correct term is Mutation, which refers to changes in the DNA sequence.
Step 18
A gene is a thread-like structure made up of DNA molecules.
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The correct term is Chromosome, which is the structure that carries genetic information.
