Bus external bl2 Flashcards
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What are politics?
The process concerned with how conflicts are CONTAINED, MODIFIED, POSTPONED OR SETTLED
Name 2 political factors that affect business
Political stability, trade controls, impact of taxes, corruption
The difference between an Authoritarian system and a democratic system
An authoritarian solves conflicts through enforcement of regulation and rules. A democratic system solves conflicts through rational discussion
Difference between pressure groups and lobbying groups
Pressure groups are trying to influence the public opinion and lobbying groups are trying to influence the policy maker
Why is business important for politics and the other way around
the goal for business is to make profit and the goal for the government is to ensure economics stability and growth
Difference between macro and micro economics
Micro is the study of economics decision taken by individuals and firms.
Macro is concerned with interactions in the economy as a whole
Micro economics indicators
Gdp per capita
Price changes
Market concentration
Changes in tax policy
Macro economics indicators
Gdp
unemployment rate
consumer price index
inflation
How assessing the economics health
Gdp
inflation
unemployment
what is an leakage
income that households don’t give to the firms examples are saving taxes and import
what is an injection
income that firms receive but not from household for example ; government spending
investment spending
exports
what is a market
place where buyers and sellers meet
how is cyclical employment caused
by general deficiency in demand
how is structural unemployment caused
a mismatch between the skills of people and the skills required for the job
technological unemployment
by introduction of new technology
households provides resources to firms real or income flow
real flow
firms provides goods and service to households, real or income flow
real flow
households pay for the goods and services real or income flow
income flow
firms pay wages and rent to households for the resources
income flow
what is een kenmerk van price elasticity of demand
sensitive to price changes
large change in quantity demanded
kenmerk van inelastic demand
insensitive to price changes
small change in quantity demanded
is it elastic or not?
>1
yes
is it elastic or not?
0
perfecty inelastic
is it elastic or not?
<1
inelastic
is it elastic or not?
1
unit elastic
reasons for balling birth rates
increased availability of contraceptives
trends towards smaller families
trend towards later marriages and bearing
changing attitude towards working woman
reasons for falling death rate
improved working conditions
rising living standards
development in medical technology
and practice
better education
influencing factors of net immigration
legal barriers
economics migrancy
numbers of fleeing persecution
government policy
political developments
difference between working and fixed capital
working capital mobile needs to be replaced for example stocks of raw materials
fixed capital less mobile long lasting
machines building plank
name 2/3 drivers of green business
government action, penalties against pollution
economic opportunities
ethical considerations
what is the reason of demand planning
better forecasting
increased profitability
lower inventory
customer retention
3 types of forecasting
judgmental, historical data and preferences
time series solely dependent on past demand
cause and effect warm -ice cream
what are the challenges of forecasting
an inappropriate technique will reduce forecast accuracy
five basic manufacturing processes
and explain
- product line
- continuous flow
- job shop
- bath production
- fixed position layout
explain pipeline stock
when an order for an item is issued but not yet received
speculative stock
to protect against or prepare against some future event
psychic stock inventory
that is kept to stimulate demand ( Ikea)
difference between traditional and modern supply chain
the traditional store maximum as possible
but the modern way only to have the required quantity of the right product in the right place
explain the just in time manufactering
to minimize inventory and reduce cost just in time the right product
difference between distribution center and fulfilment center
distribution center- difference places send to different stores
fulfillment specific labels and send to your home directly
explain the fast principle warehousing
flow
accesibility
space
throughput
what is cross docking
process of receiving goods and shipping it the same day without storing it
what do you calculate with the reorder point
dxL+Ss
the factors that need to be considered when choosing a facility location
cost consideration
location of customer
customer service expectations
what are industry clusters
related industries in a particular location
Paris- fashion
what are free trade zones
where foreign goods may be stored exhibited, processed without being subjecting to duties
why are incoterm efficient in doing business
mutual understanding of obligations and cost and risks of both seller and buyer
explain the craap tests
currency
relevance
authority
accuracy
purpose
difference between quantitative and qualitative
things that can be measured as degree or count
but qualitative can not be easily measured in count
the formula to calculate economics order quantity
2DS:h EN de wortel van dat antwoord
what are 2 examples of carrying (holding) cost
- obsoloscence ( spoilage)
- shrinkage
- storage and handling
- insurance
- taxes
-interest
what are 2 examples of ordering cost
- cost of receiving order ( wages)
- conducting a creditcheck
- verifying inventory availability
- entering orders into the system
- preparing invoices
- receiving payments
examples of correct negative externalities
- direct controls
- specific taxes
examples of positive externalities
- subsidies
- government provision ( vaccinations)
what does corporate responsibility mean for businesses?
businesses having responsibilities that go beyond profit making, they protect the natural environment and support people and communities
