This quiz works best with JavaScript enabled. Home > Economy > Business > Business Economics – Quiz 10 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Business Economics Quiz 10 (20 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Which business is not a franchise? A) McDonalds. B) Hungry Jacks. C) Nike. D) Boost. Show Answer Correct Answer: C) Nike. 2. Economic stress has led to downsizing. This has led to: A) Increased work hours. B) Less part time workers. C) Less contingent workers. D) None of above. Show Answer Correct Answer: A) Increased work hours. 3. Which of the following involves Business decision making? A) Continue or shut down decision. B) Launching of new product. C) Proper debt and equity mix. D) All of the above. Show Answer Correct Answer: D) All of the above. 4. A major benefit of socialism is the: A) Ability to stimulate rapid economic growth. B) Ability to keep taxes low. C) Emphasis on social equality. D) Emphasis on private enterprise instead of public ownership. Show Answer Correct Answer: C) Emphasis on social equality. 5. The private ownership of economic resources by individuals rather than by the Government. A) Consumer. B) Capitalism. C) Demand. D) Economic System. Show Answer Correct Answer: B) Capitalism. 6. Which of these protects music, books, poems, architecture, films and artwork? A) Copyright. B) Trademark. C) Utility Patent. D) Design patent. Show Answer Correct Answer: A) Copyright. 7. Which of the following is NOT one of the five roles of business A) Providing employment. B) Stimulating economy. C) Paying taxes to government. D) Competing with other businesses. Show Answer Correct Answer: D) Competing with other businesses. 8. Which of the following is not the function of the Niti Aayog? A) To evolve a shared vision national development priorities sectors & strategies. B) To foster cooperative federalism. C) To give final approval to the Five year plans of India. D) To create a knowledge, innovation & entrepreneurial support system. Show Answer Correct Answer: C) To give final approval to the Five year plans of India. 9. A cooperative is A) A business that is owned and operated by the group of people that it serves. B) A business with one operator. C) A business which sells shares on the ASX. D) A business operated by the public. Show Answer Correct Answer: A) A business that is owned and operated by the group of people that it serves. 10. The term "derived demand" means ..... A) Demand for secondary products only. B) Demand that is dependent on government supplying the product. C) Demand that arises because the supply of the good is reduced. D) Demand that arises because there is demand for another good. Show Answer Correct Answer: D) Demand that arises because there is demand for another good. 11. Which is NOT a question all societies have to answer due to scarce resources? A) When will products be produced?. B) How will products be produced?. C) What products will be produced?. D) Who will gets access to the resources and the products they produce?. Show Answer Correct Answer: A) When will products be produced?. 12. The word 'Economics' originates from the word ..... A) Oikomnomikos. B) Oikonomia. C) Eikonomikos. D) Ekconomics. Show Answer Correct Answer: A) Oikomnomikos. 13. Your leading product has a 30% market share which is 10% higher than your best competitor. Where would you analyze this information in SWOT analysis? A) Weaknesses. B) Strengths. C) Threats. D) Opportunities. Show Answer Correct Answer: B) Strengths. 14. Characteristics include owned by two or more people and may be general or limited A) Sole Propriotorship. B) Partnership. C) Corporation. D) Franchise. Show Answer Correct Answer: B) Partnership. 15. ..... are essential, while ..... just add to the quality of life. A) Goods, services. B) Needs, wants. C) Products, services. D) Wants, needs. Show Answer Correct Answer: B) Needs, wants. 16. Normally a supply curve will have the shape: A) 1.horizontal. B) 2.vertical. C) 3.downward sloping. D) 4.upward sloping. Show Answer Correct Answer: D) 4.upward sloping. 17. When people are employed on short term contracts it is an example of: A) Command Economy. B) Casualisation. C) Outsourced Labour. D) Full-time work. Show Answer Correct Answer: B) Casualisation. 18. ..... exists when the entire supply of a good is controlled by a single seller. A) Perfect competition. B) Oligopoly. C) Pure capitalism. D) A monopoly. Show Answer Correct Answer: D) A monopoly. 19. McDonald's and Burger King are examples of ..... A) Sole Trader. B) Partnerships. C) Limited Company. D) Franchises. Show Answer Correct Answer: D) Franchises. 20. The concept of marginal utility decreasing with the increase in amount consumed of a commodity is called A) Diminishing marginal returns. B) Diminishing marginal utility. C) Diminishing total utility. D) Diminishing total returns. Show Answer Correct Answer: B) Diminishing marginal utility. ← PreviousNext →Related QuizzesEconomy QuizzesBusiness Economics Quiz 1Business Economics Quiz 2Business Economics Quiz 3Business Economics Quiz 4Business Economics Quiz 5Business Economics Quiz 6Business Economics Quiz 7Business Economics Quiz 8Business Economics Quiz 9 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books