AS Associate Of Science In Business Administration 4

Question 1

Which leadership style involves the leader making all decisions without significant input from subordinates?

Accepted Answer

Autocratic

Answer

Autocratic (authoritarian) leadership involves centralized decision-making with little or no employee participation.

Question 2

In supply chain management, 'just-in-time' (JIT) inventory aims to:

Accepted Answer

Receive goods only as they are needed in the production process

Answer

JIT inventory reduces holding costs by scheduling deliveries to arrive exactly when needed for production or sale.

Question 3

Which type of business law governs agreements between two or more parties?

Accepted Answer

Contract law

Answer

Contract law governs legally binding agreements, defining the rights and obligations of each party.

Question 4

In microeconomics, the 'law of diminishing returns' states that:

Accepted Answer

Adding more of one input eventually yields smaller output increases

Answer

The law of diminishing returns states that adding more of a variable input to a fixed input eventually produces smaller marginal output gains.

Question 5

A company's 'debt-to-equity ratio' is used to measure its:

Accepted Answer

Financial leverage

Answer

The debt-to-equity ratio measures how much of a company is financed by debt versus shareholders' equity, indicating financial leverage.

AS - Associate In Science Degrees Practice Test