MERTON COLLEGE

Business studies paper 1 Grade 11 Duration: 1hr 15 Total mark: 50

Answer all questions:

Question 1:
In almost every company report there is reference made to the quality of the people within the
organization. ‘The most important asset is our people’ is a phrase used by chairman to recognize
the role that people have to play in an organization.

a) What is a business?[2]
b) State 3 reasons why people work.[3]
c) What 3 factors can be used by managers to motivate their employees?[3]
d) Name 2 deductions that can be made form an employee’s total pay.[2]

Total mark :

QUESTION 2
A business has different objectives. It can vary from one business to another. A good plan can
then be made to achieve these targets. It can motivate the employees.

a) What is meant by an objective?[2]

b) Who normally decides on business objectives?[2]
c) What do you understand by the term employees?[3]
d) Explain the 5 types of objectives that a business has.[10]
e) Why a business sets objectives?[2]

Total marks : 15

Question 3:
Human resource management is a managerial role which deals with issues correlated to people
such as safety, hiring, performance, salary and wages. The aim of HRM is to make sure that the
organization is able to attain success through people.

a) Differentiate between salary and wages.[4]

b) Why is it important for a company to have a well motivated workforce?[2]
c) In your own words explain the hierarchy of needs.[5]
d) According to F.W Taylor, what motivates the employees?[2]
Section B : ANSWER ALL QUESTIONS
a) What are factors of production?[2]
b) List the rewards for resources.[2]
c) Differentiate between piece rate and time rate.[2]
d) What do you understand by the term bonus?[2]
e) Explain the term added value.[2]