Multiple Choice Answers 2011 Business Studies (2 Viewers)

[Swazz]

If you did economics then you would know that protectionist policies in the form of quotas, tariffs, technical discrimination, leads to an inefficient allocation of resources. Protectionism is used to protect infant industries, and also used by countries whom wish to stay self-sufficient in certain industries (i.e. USA defence), this in turn preserves employment in these industries.

ilk, that's why ^

You say you do economics, Ricardo's theory is in that course, sorry if I made it seem like a Business concept.
In the long term, it can lead to inefficiencies as domestic firms and industries are provided with less competition to innovate and improve productivity. A lack of international competition, alternatively, leads to the preservation of domestic employment (like you said).
Basically, just remember that any form of protection can lead to long term dependance, limiting opportunities for expansions where a lack of competition exists. In the short term, sure they may be able to generate higher sales, but over time economies of scale and productivity will fall. (LRAC rise).

 

[jgalpin]

"As an analytical tool, the statement of cash flows is useful in determining the short-term viability of a company, particularly its ability to pay bills." Taken directly from a business finance and investment terms dictionary. Sorry mate.

 

[Swazz]

Sorry mate.

Don't worry, I'll forgive you just this once.

 

[jgalpin]

No it was sarcastic.... as in sorry your wrong........

 

[Swazz]

No it was sarcastic.... as in sorry your wrong........

Oh, thanks man! I certainly would NOT haven't gotten that. Saved me hours of sleep. *cough.

 

[RichardJackson]

If question 19 is a debated answer, does that mean students are given the benefit of the doubt by the markers? Or does it purely depend on the markers opinion?

 

[RichardJackson]

Swazz I have two much needed questions which Im hoping I could sought your advice from.
Firstly, in relation to the short answer employment relations question on the costs and benefits of industrial conflict, would "realizing and reforming inefficient work practices allowing for greater productivity" be sufficient as a financial benefit of industrial conflict? Secondly in terms of question 21 b, would the 'employee share acquisition scheme' be sufficient to reconcile the conflict of interest between employee and employer through allowing employees to have shares in the company at a discount price, while management can keep wage levels low.
What are your opinions?

 

[RichardJackson]

Additionally, on note of question 26 b from the 2002 HSC examination (According to the Success One Mark Maximiser book):
'Cash flow statements record inflow and outflow of cash to a business over a certain period. The role of the cash flow statement is to show business managers and owners when to use times of cash surplus to cover times of cash shortages'
Despite this not mentioning liquidity, it none the less underpins the role of cash flow statements as allowing managers to pay short term debts as they fall due, which is the basis of liquidity. However, accounts receivables are an inflow of a business, and therefore WILL BE SHOWN on the cash flow statement. It's an ongoing debate.

 

[jgalpin]

Nobody likes a smartass.

 

[Swazz]

Swazz I have two much needed questions which Im hoping I could sought your advice from.
Firstly, in relation to the short answer employment relations question on the costs and benefits of industrial conflict, would "realizing and reforming inefficient work practices allowing for greater productivity" be sufficient as a financial benefit of industrial conflict? Secondly in terms of question 21 b, would the 'employee share acquisition scheme' be sufficient to reconcile the conflict of interest between employee and employer through allowing employees to have shares in the company at a discount price, while management can keep wage levels low.
What are your opinions?

Yes, that would be alright, as long as you linked greater productivity to higher output and at reduced expenses of inputs. If not you might just get a mark.
I guess share scheme could work, depending on how well you explained it.

I'm pretty sure, despite debate over the question, they will decide option B as right. In the past, really dodgy m/choice questions are given two correct answers.

 

[Swazz]

The Business Studies Exam is over for now. TBH, worrying about whether you got a particular answer right or wrong can affect your performance in other exams.

Once all your exams are completed, come back and then discussion over whether your answers would be right or wrong can take place.

Cheerios.