Which of the following would often be subject to health and safety legislation?
All answers are correct. Each of these areas can create safety hazards for people in the workplace, and so in many countries government legislation has been passed to make these topics subject to regulation.
For example, within the UK, it is mandatory for employers to provide compulsory training for em-ployees who may be involved in lifting heavy items, and there are limits placed on the weight which can be handled by any one person. In many cases, mechanised lifting equipment is used to aid or replace humans.
The letters 'MNC' stand for:
'Multi-national corporation' is the correct answer. Very large international organisations, with very large turnover, purchasing power and influence. Examples would include: Alphabet, Amazon, Ap-ple, Dell, Ford, Shell, Toyota, etc
Continuously gathering and analysing intelligence from sources such as professional, industry and trade journals, websites, conferences and exhibitions, published reports and online databases is called:
Continuously scanning the environment can bring rewards in the form of new supply companies, new products and services, awareness of supply firm or industry difficulties, etc.
Purchasing research is a very close answer to the correct one, but is likely to be more focussed, spe-cific.
If faced with a difficult choice as to which of two options in the exam is correct, think about what was included as part of your syllabus.
In this case, environmental scanning is the first entry in your Learning Outcome 3.1
'The costs of business activities which are not reflected in the costing of a product or service and paid for by consumers, but which are borne by the wider community -- such as the costs of pollution and associated ill health, traffic congestion or environmental degradation' are known as:
We are now aware that the cost of externalities to society are considerable. A simple example would be that proximity to flow of motor vehicles is likely to increase ill-health requiring state-funded medical services where they exist, to treat at state (taxpayers') expense those who become ill. In the UK the number of people affected this way is believed to be numbered in the tens of thousands an-nually. Thus some businesses' cost structures do not reflect their true cost to society.
Another example would be the discharge of untreated waste into rivers or the sea, where the com-panies undertaking these activities may not be contributing financially to the cleaning up required.
In future years there is likely to be much debate about this, as some people will attempt to find ways to make companies pay the full cost of running their businesses.
A market situation where there is only one supplier is called:
The correct answer is, of course, 'monopoly'.
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