| Question | Answer |
| Name 3 examples of consumer protection laws | underweight contents, false advertising, false pricing claims, dangerous goods, correct labels
|
The type of company that has operations in more than one country | MNC
| Name 2 benefits of a business expanding into new markets abroad | increased sales, diversification, economies of scale, cheaper materials and labour
| Name 2 problems business face when entering new markets abroad | competition, knowledge of consumers, cultural differences, language barriers
| Name 2 ways of overcoming problems when entering new markets abroad | use agents, joint venture, create new products to suit local consumer, create different promotional materials
| Name one advantage and one disadvantage of joint ventures | sharing costs; knowledge and expertise; risks but conflict; shared profit; cultural differences
| Give the formula to calculate labour productivity | productivity = output/No. of workers
| Name 2 ways to improve productivity | new technology, training for workers, improve employee motivation
| Give one advantage and one disadvantage of Job production | meets customer requirements, more interesting for workers, requires skilled labour, costs are higher, can only produce relatively small quantities
| What is meant by the term lead time | time between the order being paced and the stock being received
| Name 2 requirements for JIT to be successful | reliable suppliers, effective system for ordering new stock |
