This quiz works best with JavaScript enabled. Home > Economy > Business > Business Economics – Quiz 39 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Business Economics Quiz 39 (20 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. When marginal utility from the consumption of a commodity is zero, then the: A) Total utility is zero. B) Total utility is highest. C) Total utility is rising. D) Total utility is falling. Show Answer Correct Answer: B) Total utility is highest. 2. What is Greek term name of economics A) Oikos + Nomos. B) Nomes + kosio. C) Okios + Nomso. D) Kosio+ Nomes. Show Answer Correct Answer: A) Oikos + Nomos. 3. What is the desired rate of growth for GDP? A) 3-4%. B) 2-3%. C) 1-3%. D) 4-5%. Show Answer Correct Answer: A) 3-4%. 4. Eataly's sights set on China with possible joint-venture A) Business news. B) Economic news. C) Microeconomics. D) Macroeconomics. Show Answer Correct Answer: A) Business news. 5. Discuss the trend line in the forecasting of business cycles. A) A fall in bussiness cycle. B) Rise in income. C) Fall in taxes. D) Fall in gdp. Show Answer Correct Answer: A) A fall in bussiness cycle. 6. What describes the next best alternative that must be given up in order to purchase a good or service A) Opportunity Cost. B) Consumers. C) Living Standards. D) Production Cost. Show Answer Correct Answer: A) Opportunity Cost. 7. Inflation measures ..... A) The value of all final goods and services produced. B) An increase in the general price level. C) The percentage of people looking for work that can't find it. D) The economic freedom an economy offers. Show Answer Correct Answer: B) An increase in the general price level. 8. Which type of business has a greater stability and expertise to run the business? A) Sole Trader. B) Partnership. C) Both. D) Neither. Show Answer Correct Answer: B) Partnership. 9. Which type of business organization places all the liability on a single seller? A) Sole Proprietorship. B) Partnership. C) Corporation. D) None of above. Show Answer Correct Answer: A) Sole Proprietorship. 10. No paperwork (memorandum or agreement) is required to start which type of business? A) Partnership. B) Franchise. C) Sole Trader. D) Limited Company. Show Answer Correct Answer: C) Sole Trader. 11. Which of the following statement is correct about Niti Aayog? A) Niti Aayog was formed 25th January 2016. B) Niti Aayog comes under the ministry of commerce & industry. C) The full form of Niti Aayog is National Institute for transforming India. D) The Niti Aayog is a policy think tank of the Government of India. Show Answer Correct Answer: D) The Niti Aayog is a policy think tank of the Government of India. 12. A manager is willing to accept the production of fewer products as long as their workers produce higher-quality products. The manager is making a(n) A) Exchange. B) Trade-off. C) Capital good. D) Distribution. Show Answer Correct Answer: B) Trade-off. 13. The ultimate goal of all economic activity is A) Consumption. B) Production. C) Exchange. D) Distribution. Show Answer Correct Answer: A) Consumption. 14. In a economy, individuals are free to make their own economic decisions. A) Market. B) Command. C) Centrally-planned. D) Traditional. Show Answer Correct Answer: A) Market. 15. What does GDP stand for? A) Gross Domestic Production. B) Greater Domestic Product. C) Greater Domestic Production. D) Gross Domestic Product. Show Answer Correct Answer: D) Gross Domestic Product. 16. Fishing, Mining, Farming, and Forestry are examples of what economic activity? A) Primary. B) Secondary. C) Teritiary. D) Quaternary. Show Answer Correct Answer: A) Primary. 17. Mary Ann sells government produced cars. At the end of the month Mary Ann must give all of the money she made back to the government. A) Market System. B) Command System. C) Traditional System. D) Mixed System. Show Answer Correct Answer: B) Command System. 18. Once the SWOT is completed what must you do to ensure you gain the benefit from it? A) Leave in a file. B) Hand it to your manager. C) Review it on a regular basis. D) Give it to you work colleague and get them to follow it. Show Answer Correct Answer: C) Review it on a regular basis. 19. What is the currency in India? A) Dollars. B) Yen. C) Rupee. D) Euro. Show Answer Correct Answer: C) Rupee. 20. We mainly study the following in Micro-Economics: A) General price level. B) National income and output. C) Demand of industry. D) Employment and economic growth. Show Answer Correct Answer: C) Demand of industry. ← 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