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Business external > Bus external bl2 > Flashcards

Bus external bl2 Flashcards

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1
Q

What are politics?

A

The process concerned with how conflicts are CONTAINED, MODIFIED, POSTPONED OR SETTLED

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2
Q

Name 2 political factors that affect business

A

Political stability, trade controls, impact of taxes, corruption

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3
Q

The difference between an Authoritarian system and a democratic system

A

An authoritarian solves conflicts through enforcement of regulation and rules. A democratic system solves conflicts through rational discussion

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4
Q

Difference between pressure groups and lobbying groups

A

Pressure groups are trying to influence the public opinion and lobbying groups are trying to influence the policy maker

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5
Q

Why is business important for politics and the other way around

A

the goal for business is to make profit and the goal for the government is to ensure economics stability and growth

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6
Q

Difference between macro and micro economics

A

Micro is the study of economics decision taken by individuals and firms.
Macro is concerned with interactions in the economy as a whole

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7
Q

Micro economics indicators

A

Gdp per capita
Price changes
Market concentration
Changes in tax policy

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8
Q

Macro economics indicators

A

Gdp
unemployment rate
consumer price index
inflation

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9
Q

How assessing the economics health

A

Gdp
inflation
unemployment

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10
Q

what is an leakage

A

income that households don’t give to the firms examples are saving taxes and import

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11
Q

what is an injection

A

income that firms receive but not from household for example ; government spending
investment spending
exports

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12
Q

what is a market

A

place where buyers and sellers meet

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13
Q

how is cyclical employment caused

A

by general deficiency in demand

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14
Q

how is structural unemployment caused

A

a mismatch between the skills of people and the skills required for the job

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15
Q

technological unemployment

A

by introduction of new technology

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16
Q

households provides resources to firms real or income flow

A

real flow

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17
Q

firms provides goods and service to households, real or income flow

A

real flow

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18
Q

households pay for the goods and services real or income flow

A

income flow

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19
Q

firms pay wages and rent to households for the resources

A

income flow

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20
Q

what is een kenmerk van price elasticity of demand

A

sensitive to price changes
large change in quantity demanded

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21
Q

kenmerk van inelastic demand

A

insensitive to price changes
small change in quantity demanded

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22
Q

is it elastic or not?
>1

A

yes

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23
Q

is it elastic or not?
0

A

perfecty inelastic

24
Q

is it elastic or not?
<1

A

inelastic

25
Q

is it elastic or not?
1

A

unit elastic

26
Q

reasons for balling birth rates

A

increased availability of contraceptives
trends towards smaller families
trend towards later marriages and bearing
changing attitude towards working woman

27
Q

reasons for falling death rate

A

improved working conditions
rising living standards
development in medical technology
and practice
better education

28
Q

influencing factors of net immigration

A

legal barriers
economics migrancy
numbers of fleeing persecution
government policy
political developments

29
Q

difference between working and fixed capital

A

working capital mobile needs to be replaced for example stocks of raw materials

fixed capital less mobile long lasting
machines building plank

30
Q

name 2/3 drivers of green business

A

government action, penalties against pollution
economic opportunities
ethical considerations

31
Q

what is the reason of demand planning

A

better forecasting
increased profitability
lower inventory
customer retention

32
Q

3 types of forecasting

A

judgmental, historical data and preferences
time series solely dependent on past demand
cause and effect warm -ice cream

33
Q

what are the challenges of forecasting

A

an inappropriate technique will reduce forecast accuracy

34
Q

five basic manufacturing processes
and explain

A
  1. product line
  2. continuous flow
  3. job shop
  4. bath production
  5. fixed position layout
35
Q

explain pipeline stock

A

when an order for an item is issued but not yet received

36
Q

speculative stock

A

to protect against or prepare against some future event

37
Q

psychic stock inventory

A

that is kept to stimulate demand ( Ikea)

38
Q

difference between traditional and modern supply chain

A

the traditional store maximum as possible
but the modern way only to have the required quantity of the right product in the right place

39
Q

explain the just in time manufactering

A

to minimize inventory and reduce cost just in time the right product

40
Q

difference between distribution center and fulfilment center

A

distribution center- difference places send to different stores
fulfillment specific labels and send to your home directly

41
Q

explain the fast principle warehousing

A

flow
accesibility
space
throughput

42
Q

what is cross docking

A

process of receiving goods and shipping it the same day without storing it

43
Q

what do you calculate with the reorder point

A

dxL+Ss

44
Q

the factors that need to be considered when choosing a facility location

A

cost consideration
location of customer
customer service expectations

45
Q

what are industry clusters

A

related industries in a particular location
Paris- fashion

46
Q

what are free trade zones

A

where foreign goods may be stored exhibited, processed without being subjecting to duties

47
Q

why are incoterm efficient in doing business

A

mutual understanding of obligations and cost and risks of both seller and buyer

48
Q

explain the craap tests

A

currency
relevance
authority
accuracy
purpose

49
Q

difference between quantitative and qualitative

A

things that can be measured as degree or count

but qualitative can not be easily measured in count

50
Q

the formula to calculate economics order quantity

A

2DS:h EN de wortel van dat antwoord

51
Q

what are 2 examples of carrying (holding) cost

A
  • obsoloscence ( spoilage)
  • shrinkage
  • storage and handling
  • insurance
  • taxes
    -interest
52
Q

what are 2 examples of ordering cost

A
  • cost of receiving order ( wages)
  • conducting a creditcheck
  • verifying inventory availability
  • entering orders into the system
  • preparing invoices
  • receiving payments
53
Q

examples of correct negative externalities

A
  • direct controls
  • specific taxes
54
Q

examples of positive externalities

A
  • subsidies
  • government provision ( vaccinations)
55
Q

what does corporate responsibility mean for businesses?

A

businesses having responsibilities that go beyond profit making, they protect the natural environment and support people and communities

56
Q
A

Business external (3 decks)

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