Online Access Free L3M1 Practice Test

Monetary policy deals with:

• A.Government decisions and actions regarding the level of interest rates and supply of money in the economy
• B.Government decisions and actions regarding exchange rates and unemployment in the economy
• C.Government decisions and actions regarding the size of banknotes and coins in the economy
• D.Government decisions and actions regarding the balance between taxation revenue and public expenditure

'The value of a commodity or service measured in terms of the standard monetary unit' describes:

• A.Value for money
• B.Value added
• C.Cost
• D.Price

Which of the following would not normally be seen as part of public sector procurement?

• A.Pursuit of equal opportunities policies, internally and externally
• B.Personal financial rewards from suppliers for buyers in return for awarding contracts
• C.Achieving defined service levels
• D.Personal bonus payments for procurement staff, linked to savings made
• E.An emphasis on the use of the competitive principle

Which of the following might be objectives of private sector organisations? Select all that apply.

• A.Shareholder value
• B.To maximise taxation
• C.Market share
• D.To minimise profit

On a diagram of the Product Life Cycle, the x-axis shows:

• A.Decline
• B.Growth
• C.Profit
• D.Time