Business Economics Quiz 17 (25 MCQs)

Quiz Instructions:

Select an option to see the correct answer instantly.

1. A medium business/enterprise would have _____

2. Which business is not a franchise?

3. This is NOT part of the secondary sector

4. What is NOT a source of income?

5. Price elasticity is computed by

6. Is the price that equates quantity supplied to the quantity demanded

7. Which of the following is a reason that a U.S. company would decide to offer its products in other countries?

8. A science that examines how goods and services are produced, sold, and used.

9. In a _____ the resources are owned and controlled by the government.

10. Define productivity

11. National Income may be determined through?

12. Average revenue is calculated by

13. Under bilateral monopoly the price is higher if

14. A form of business organization that is authorized to act as a legal entity regardless of the number of owners.

15. The perfect competition is characterised by

16. What factor of production is an entrepreneur?

17. In which of the following would one person be responsible for all of the risks but also receive all of the profits?

18. The heart of economics is

19. A business partnership has _____ who share the risks and the profits.

20. Accreditation refers to

21. Which of the following factors has aided the most in creating a global business environment?

22. The nature of Cross-price elasticity of demand in case of complementary product will be

23. Labour intensive technique would get chosen in _____

24. What is a major reason for conglomerate mergers?

25. The % change in demand for a product A divided by the % change in price of product B indicates the degree of