Topic 1 Tutorial

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1 March 16, 2012 BUSINESS MANAGEMENT 061 Business Management 061 Topic 1 Tutorial Questions Section A: Short Answers 1. List and define with examples the five factors of production. 2. List down all the external environments of business that may affect an organisation. 3. List and define policies that government used to manage their economy. Section B: Essay 1. With examples, discuss in detail the concept and theories behind Demand and Supply. 2. Discuss in detail, with examples, the four types of competitions in the economy.

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Business Management 061Topic 1 Tutorial Questions

Section A: Short Answers

1. List and define with examples the five factors of production.2. List down all the external environments of business that may affect an organisation.3. List and define policies that government used to manage their economy.

Section B: Essay

1. With examples, discuss in detail the concept and theories behind Demand and Supply.2. Discuss in detail, with examples, the four types of competitions in the economy.