Vusi Mkhabela, the owner of Black Rose, sold food at weekend markets and did catering. He lived  without a salary for weeks because areas he works in closed at the beginning of the lockdown. “I was stuck financially and mentally,” said Mkhabela — until he decided to cook from home and  market it on social media during lockdown level four. Events and markets were still banned, but  Minister of Trade and Industry Ebrahim Patel then allowed cooked meals to be sold and Mkhabela  used this to get his business going again.  “I started cooking at home; we took pictures and fed our Instagram pages and WhatsApp,” he said.  People latched on to the opportunity to eat someone else’s food. As the lockdown restrictions  eased, he got a catering job which enabled him to rent a space in Maboneng, Johannesburg, where  he opened The Gourmet Shrine.  Describe economic variables of the macro environment in which Mr Mkhabela was  operating.

In the United States, the Food and Drug Administration (FDA) enforces regulations aimed at ensuring that new drugs that are marketed do, in fact, have the functions they are supposed to have. Which of the following arguments provides an appropriate justification for such regulations? These regulations are necessary because: A. verification by each consumer would be extremely inefficient B. verification is an easy task within a market economy C. quantity regulations are so rare within a market economy D. quantity regulations are so efficient

JobKeeper was a Australian government initiative introduced during the Coronavirus pandemic to ensure that businesses could continue to employ workers. explores potential government initiatives following the conclusion of JobKeeper. Watch the video and answer the questions. The video proposes a HECS-style government loan to be offered to businesses following the conclusion of JobKeeper. Why might the government prefer to give a loan to businesses rather than a subsidy? Group of answer choices. 1Since firms have to pay it back eventually, the government ensures that businesses do not grow too quickly 2The government wants to minimise the effect of this initiative on its deficit, while still supporting businesses 3Giving a subsidy to businesses may cause a reduction in innovation and therefore a waste of taxpayers dollars 4 B and C are possible

Johnson & Johnson’s 1982 Tylenol recall was huge in both scope and cost. Adjusted for inflation, the recall cost roughly $250 million. But, as the seminal event in the history of recalls, arguably none other has had a bigger impact. Known as “the recall that started them all,” J&J set the standard for the way corporations are supposed to handle such events. In a case of product tampering, seven people in the Chicago area died after ingesting Extra-Strength Tylenol laced with cyanide. J&J spent more than $100 million to recall 31 million bottles of its best-selling product. J&J’s swift and decisive action is credited with saving the Tylenol brand, which at the time accounted for 17% of the company’s profits. Although the stock priced swooned initially, it recovered within two months                                        b)      List five cases of product recall and their reasons, explaining their impact on the brand and profitability of the company.