POB exam prep

What's the definition of bartering

• is to selling goods for money

• the exchange of goods and services with the use of money

• selling things without receiving money

• is the exchange for other goods and services without using money

what are some advantages of bartering

• Difficulty in Storage

• Helps build relationships

• some goods are not divisible

• No need for money

• having no legal certification

scarcity definition

• a large or sufficient amount or quantity; more than enough

• not existing or not real or present.

• when supply of a resource cannot meet demand

• the quality or condition of being easy to understand or do.

  
  

subsistent economy is when family produce goods and services for others

• yes

• no

which one is not a disadvantage of bartering

• Limited availability of goods and services
• Lack of standardization in exchange
• Difficulty in determining the value of goods and services
• Inability to save or accumulate wealth

which one is not a characteristic of money

• durability
• fungibility
• divisibility
• portability

What is the meaning of Telebanking?

• Internet banking services provided by banks.
• Telephone banking services provided by banks.
• Mobile banking services provided by banks.
• ATM banking services provided by banks.

what is the difference between public and private sector

• Public sector organizations are owned, controlled and managed by the government. Private sector organizations are owned, controlled and managed by individuals, groups or business entities

• Private sector organizations are owned, controlled and managed by the government. Public sector organizations are owned, controlled and managed by individuals, groups or business entities

• public sector businesses pay tax while private sector businesses owe because it is run by the government

• private sector businesses pay tax while public sector businesses owe because it is run by the government

identify the function of management

ensuring that employees are clear on the tasks assigned to them

• staffing

• planning

• coordinating

• delegating

• None of these

identify the function of management

ensuring that employees are aware of what is happening within the firm

• communicating

• organizing

• directing

• coordinating