The Association of Business Executives
THE ASSOCIATION OF BUSINESS EXECUTIVES
CERTIFICATE
The Business Environment
SPECIMEN QUESTION PAPER
Answer any FOUR questions
Q1 (a) Explore the main characteristics of a ‘fully-planned economy’. (10 marks)
(b) Discuss why in practice it is more likely that a country will have a ‘mixed economy’. (15 marks)
(Total 25 marks)
Q2 (a) Discuss the reasons why an interventionist approach has been favoured by the European Union in its relations with industry. (15 marks)
(b) Review the potential dangers of having large and economically-powerful trading blocs. (10 marks)
(Total 25 marks)
Q3 Explain the statement ‘as supply and demand for a product changes, so does its selling price’. (Total 25 marks)
Q4 Assess the strategies available to a business seeking to achieve competitive advantage. Answers should be supported with relevant examples. (Total 25 marks)
Q5 Using examples, discuss the two main types of compulsory taxation and explore their roles within national economies. (Total 25 marks)
Q6 Review the causes and potential problems that can be caused by high economic growth. (Total 25 marks)
Q7 Explain the importance of competitor analysis and explore the key issues that need to be addressed for such analysis to be effective. (Total 25 marks)
Q8 In the context of the Sale of Goods, explain the following terms commonly found within a contract:
(a) Form of agreement (5 marks)
(b) Specification (5 marks)
(c) Liability (5 marks)
(d) Applicable law (5 marks)
(e) Legal action (5 marks)
(Total 25 marks)
016601 2
THE ASSOCIATION OF BUSINESS EXECUTIVES
DIPLOMA
The Business Environment
SPECIMEN ANSWERS
TBE
016603
Q1 (a) Explore the main characteristics of a fully-planned economy.
There are two extremes of economic systems – one of which is the fully-planned economy. These are ones in which the State owns the means of production. And the
State decides the answers to three basic questions:
• What is to be produced?
• How it is to be
CERTIFICATE
The Business Environment
SPECIMEN QUESTION PAPER
Answer any FOUR questions
Q1 (a) Explore the main characteristics of a ‘fully-planned economy’. (10 marks)
(b) Discuss why in practice it is more likely that a country will have a ‘mixed economy’. (15 marks)
(Total 25 marks)
Q2 (a) Discuss the reasons why an interventionist approach has been favoured by the European Union in its relations with industry. (15 marks)
(b) Review the potential dangers of having large and economically-powerful trading blocs. (10 marks)
(Total 25 marks)
Q3 Explain the statement ‘as supply and demand for a product changes, so does its selling price’. (Total 25 marks)
Q4 Assess the strategies available to a business seeking to achieve competitive advantage. Answers should be supported with relevant examples. (Total 25 marks)
Q5 Using examples, discuss the two main types of compulsory taxation and explore their roles within national economies. (Total 25 marks)
Q6 Review the causes and potential problems that can be caused by high economic growth. (Total 25 marks)
Q7 Explain the importance of competitor analysis and explore the key issues that need to be addressed for such analysis to be effective. (Total 25 marks)
Q8 In the context of the Sale of Goods, explain the following terms commonly found within a contract:
(a) Form of agreement (5 marks)
(b) Specification (5 marks)
(c) Liability (5 marks)
(d) Applicable law (5 marks)
(e) Legal action (5 marks)
(Total 25 marks)
016601 2
THE ASSOCIATION OF BUSINESS EXECUTIVES
DIPLOMA
The Business Environment
SPECIMEN ANSWERS
TBE
016603
Q1 (a) Explore the main characteristics of a fully-planned economy.
There are two extremes of economic systems – one of which is the fully-planned economy. These are ones in which the State owns the means of production. And the
State decides the answers to three basic questions:
• What is to be produced?
• How it is to be