Various options are provided as possible answers to the following questions - NSC Business Studies - Question 1 - 2018 - Paper 1
Question 1
Various options are provided as possible answers to the following questions. Choose the answer and write only the letter (A–D) next to the question numbers (1.1.1 to... show full transcript
Worked Solution & Example Answer:Various options are provided as possible answers to the following questions - NSC Business Studies - Question 1 - 2018 - Paper 1
Step 1
1.1.1 This Act protects employers from a financial burden should employees be involved in an accident at the workplace:
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Answer
The correct answer is C. Compensation for Occupational Injuries and Diseases Act (COIDA), 1997. This Act safeguards employers by ensuring that workers injured on the job receive compensation.
Step 2
1.1.2 It was easy for Dada Fish & Chips to acquire a trading licence. This refers to the ... as an element of Porter’s Five Forces.
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Answer
The correct answer is D. threats/barriers for new entrants to the market. This reflects the ease of entry for businesses in the industry.
Step 3
1.1.3 John, a vegetable farmer, implemented the ... integration strategy when he bought the fruit and vegetable stall that sells his products.
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The correct answer is A. backward. This means that he gained control over the supply chain by acquiring the supplier.
Step 4
1.1.4 This form of ownership is established by a group of people who work together for their mutual economic benefit:
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Answer
The correct answer is A. Cooperative. This structure is designed to provide benefits to all members as they work collaboratively.
Step 5
1.1.5 The amount that the insured must pay when a claim is lodged:
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The correct answer is A. Excess. This refers to the initial amount that the insured must cover before the insurer pays out.
Step 6
1.1.6 A/an ... leader ensures that employees follow strict rules and procedures when performing their tasks.
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Answer
The correct answer is A. bureaucratic. Such a leader prioritizes adherence to rules and structured processes.
Step 7
1.1.7 Team dynamic theories help businesses to ...
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Answer
The correct answer is B. allocate tasks according to the role of each team member. This promotes efficiency and recognizes individual strengths.
Step 8
1.1.8 A King Code principle that requires companies to have their financial statements audited regularly:
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Answer
The correct answer is D. Transparency. Regular audits ensure accountability and trust in the financial reporting.
Step 9
1.1.9 A small group of voluntary workers that meets regularly to discuss quality-related matters in the workplace:
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Answer
The correct answer is A. Quality circles. This promotes continuous improvement and employee involvement.
Step 10
1.1.10 Gerald lost his job at Green Industries; therefore, he is entitled to claim from the ... Fund.
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Answer
The correct answer is B. Compensation. This provides financial assistance in the event of unemployment.