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9
D 
Inferior goods are defined in terms of the relationship between quantity demanded and income. 
The issue of substitutes is not relevant. 
10
B 
The marginal cost curve represents the firm's supply curve, but a firm will only continue to supply 
in the short run provided that the selling price covers its variable costs and therefore allows it to 
make a contribution to covering fixed costs. 
Now try ... 
Attempt the questions below from the 
Practice Question Bank 
Q17 
Q18 
Q19 
Q20 
Q21 
Q22 
ANSWERS TO QUICK QUIZ 
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121 
Business organisation structure,
functions and governance
part
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PART B: BUSINESS ORGANISATION STRUCTURE, FUNCTIONS AND GOVERNANCE 
 
122
 
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123 
C H A P T E R 
TOPIC LIST 
SYLLABUS 
REFERENCE 
1 The 
informal 
organisation 
B1(a),(b)
2 Organisational 
structure 
B2(a)(b)
3 Levels of strategy in the organisation 
B2(c)
4 Centralisation 
and 
decentralisation 
B2(d)
Business organisation, 
structure and strategy
Section 1 
examines the importance of
 informal networks 
in shaping organisational culture. 
There are various influences on organisational structure 
(
Section 2
). Most firms have some sort of 
organisation 
hierarchy
reflecting the levels of strategy making (