This quiz works best with JavaScript enabled. Home > Economy > Business > Business Economics – Quiz 32 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Business Economics Quiz 32 (20 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. A subsidiary is ..... A) A company that is mostly owned by another company. B) A company that is at least half-owned by a bigger company. C) A company that is combined with another company to make a conglomerate. D) A company of which less than 25% is owned by another company. Show Answer Correct Answer: B) A company that is at least half-owned by a bigger company. 2. Organization that pools funds of individual investors to buy a large number of different stocks or other financial assets are called A) 1.mutul funds. B) 2.stock market. C) 3. insurance company. D) 4.none of the above. Show Answer Correct Answer: A) 1.mutul funds. 3. Advantages of this business type are that the owner is their own boss and gets to keep all the profits. A) Partnership. B) Sole Trader. C) Limited Company. D) Franchise. Show Answer Correct Answer: B) Sole Trader. 4. Which of the following is not the subject matter of Business economics? A) Should our firm be in this business?. B) How much should be produced and at price should be kept?. C) How will the product be placed in the market?. D) How should we decrease unemployment in the economy?. Show Answer Correct Answer: D) How should we decrease unemployment in the economy?. 5. Administered prices refer to: A) Prices determined by forces of demand and supply. B) Prices determined by sellers in the market. C) Prices determined by an external authority which is usually the government. D) None of the above. Show Answer Correct Answer: C) Prices determined by an external authority which is usually the government. 6. Economist Thomas Malthus believed that ..... would limit economic progress. A) Depletion of gold reserves. B) Overpopulation. C) The tendency of governments to levy high tax rates. D) The inability of workers in developed nations to compete against cheap foreign labor. Show Answer Correct Answer: B) Overpopulation. 7. Who took over as the new Vice Chairman of Niti Aayog in September 2017? A) Arvind Panangriya. B) Raghuram Rajan. C) Rajeev Kumar. D) Rajiv Singh. Show Answer Correct Answer: C) Rajeev Kumar. 8. This is NOT part of the tertiary sector A) Transport. B) Construction. C) Trade. D) Education. Show Answer Correct Answer: B) Construction. 9. A situation where people exchange goods and services is referred to as: A) A market. B) The Producer Rights Law. C) A Mixed Market Economy. D) Scarcity. Show Answer Correct Answer: A) A market. 10. Discounts, price cutting, Advertisements, etc in capitalist economy are- A) Types of government regulation. B) Effects of consumer sovereignty. C) Method of handling competition. D) None of the above. Show Answer Correct Answer: C) Method of handling competition. 11. The ACCC stands for: A) Australian Competition & Consumer Commission. B) Australian Consumer & Competition Contracters. C) Asia Competition & Consumer Commission. D) None of above. Show Answer Correct Answer: A) Australian Competition & Consumer Commission. 12. ..... is the name of a free-market economic system in which most of the factors of production and distribution-such as land, factories, railroads, and stores-are owned by individuals. A) Socialism. B) Capitalism. C) Communism. D) Marginalism. Show Answer Correct Answer: B) Capitalism. 13. Which of the following is an advantage of the corporation as a form of business ownership: A) Less complex requirements. B) Separate owners and managers. C) Limited liability. D) High Taxes. Show Answer Correct Answer: C) Limited liability. 14. Effective efforts put to acquire something will be ..... A) Want. B) Desire. C) Need. D) Demand. Show Answer Correct Answer: A) Want. 15. Law firms and doctor's offices are examples of ..... A) Sole Proprietorships. B) Partnerships. C) Corporations. D) Franchises. Show Answer Correct Answer: B) Partnerships. 16. The THREAT section is mainly areas that: A) Can be easily removed and turned in to strengths. B) Cannot be removed or ignored and will need planning to work with or around. Are a potential risk to your development. C) Nasty things that have been said to you. D) Are areas that you threaten your safety. Show Answer Correct Answer: B) Cannot be removed or ignored and will need planning to work with or around. Are a potential risk to your development. 17. The constant rise in the general level of prices over a period of time is termed ..... A) Expansion. B) Inflation. C) Unemployment. D) Consumption. Show Answer Correct Answer: B) Inflation. 18. If a local government sets an apartment rent control price below the equilibrium, what is the MOST LIKELY outcome? A) The demand and supply will increase. B) The increased supply will create a surplus. C) The increased demand will create a shortage. D) The demand will decrease and the supply will increase. Show Answer Correct Answer: C) The increased demand will create a shortage. 19. The term used for costs that change with the number of output A) Fixed Cost. B) Average Cost. C) Variable Cost. D) Marginal Cost. Show Answer Correct Answer: C) Variable Cost. 20. No paperwork (charter or agreement) is required to start which type of business? A) Partnership. B) Franchise. C) Sole Proprietorship. D) Corporation. Show Answer Correct Answer: C) Sole Proprietorship. ← 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