IB Business Management MCQ QuizIB_Business_Management_5_1 The ro

Identify the incorrect statement.

• Mass production and capital-intensive output require higher levels of investment

• Production decisions impact all other business functions within the firm

• Quaternary sector firms are not involved in the production process

• The production of customized goods can allow the marketing team to recommend a higher price

Identify the business sector(s) that require an operations management function.

• ii only

• i + ii

• i + ii + iii

• i + ii + iii + iv

Identify the term used to describe a business that relies on workers rather than machinery inputs to produce its output.

• Capital-intensive

• Labour-intensive

• Secondary sector

• Tertiary sector

A business that manufactures pens has an automated production system. Identify the best term to describe this business.

• Primary sector business

• Quaternary sector business

• Secondary sector business

• Tertiary sector business

Identify the main responsibility(ies) of the operations management division of an organization.

• All aspects of the production process and quality management

• Identifying customer needs and promoting a firm’s goods and/or services

• Recruitment, training, performance appraisals, and dismissals of workers

• All of the above

Identify the main objective of a business function, such as operations management, for a profit-seeking organization.

• To add value

• To adopt lean production

• To be capital-intensive

• To be labour-intensive

To add value, the operations management system must take inputs such as land, labour, capital, and enterprise. Identify the economic term used to describe these inputs.

• Business functions

• Chain of production

• Factors of production

• Marketing mix

Which term refers to someone who has the ability and desire to establish, oversee, and succeed in a start-up business?

• Capital

• Entrepreneurship

• Labour

• Land

Identify the least likely impact of a shift from labour intensive to capital intensive production methods impacts the other business functions.

• Advertising that highlights customized production

• Investment in new technology

• Job redundancies

• New training requirements

Identify the types of outputs generated by a business.

• Goods

• Services

• A and B

• None of the above