Global MCQ Practice

🌐 Total MCQ
🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books

Business Economics Quiz 2 (60 MCQs)

Quiz Instructions

Select an option to see the correct answer instantly.

1. A fall in the value of a currency due to factors such as weaker economic fundamentals is termed .....
2. Which one of the following is correctly matched?
3. Which of the following is an advantage of general partnerships:
4. Who or what answers the basic economic questions in a market economy?
5. According to the article, what will you have to do when setting up a business BEFORE your very first transaction?
6. Hard to raise funds to start and expand
7. What happens when demand is bigger than supply?
8. According to Robbins, Economics is a
9. Which of the following is NOT a business organization?
10. List any THREE examples of eco-tourism in South Africa.
11. In a mixed economy
12. Why would a company need to issue stock?
13. In which economic system does the government have the most control over economic resources?
14. What is one force that hinders, or stops, economic growth in poorer countries?
15. An economy where there is a blend between government involvement in business and private ownership.
16. Which of the following people would tend to favor a socialist economy?
17. Which one of the following is the correct definition of Economics?
18. What is the principle that producers are entitled to make more money from a business than they invest
19. Mark, a sole trader, has been trading for five years. A sole trader has unlimited liability. It means that he
20. The four government objectives are low inflation, low unemployment, balance of payments and
21. Which of the following is not the problem, a country will have to face due to rapid inflation
22. ..... demand forecasting is related to the business conditions prevailing in the economy as a whole
23. The current economic system in the U.S. is .....
24. The quantity of a good or service that producers are willing and able to offer for sale at a particular price during a specific time period.
25. Macro economics is derived from the Greek word
26. A science that examines how goods and services are produced, sold, and used.
27. What is microeconomics?
28. A ..... is business owned and run by a single individual.
29. Micro economics approaches the study of economics from the view point of
30. A ..... is a form of business organization recognized by law as a separate legal entity with all the rights of an individual.
31. I sell 10 bowls of cereal at $ 5 each, my revenue is
32. An increase in the labor force would cause the PPF to
33. Large business are usually able to negotiate lower repayments on loans. What economy of scale is this?
34. Who is called the father of economics?
35. Which of these is not a major macroeconomic objective of governments?
36. Bulk buying for discount is which type of economy of scale?
37. ..... refers to a general rise in the price level of goods and services over time.
38. Which of the following is NOT one of the 6 basic business activities
39. What is a disadvantage of the economic system in the previous question?
40. What happens as a person's or economy's income rises?
41. Which business depends on just one person for the skills and talents to run the business?
42. What implication(s) does resource scarcity have for the satisfaction of wants?
43. Alfred Marshall 's Master piece "The Principles of Economics" in .....
44. What is NOT a factor affecting consumer choice (of which g/s to buy)?
45. Which of the following products will be most likely affected by an increase in income tax?
46. What you make when you give something up to have something else.
47. A person who buys and uses goods and services.
48. A charter is a government document that gives permission to create a .....
49. Asda would be classified as .....
50. In every economic system, scarcity imposes limitations on
51. Marginal utility approach was given by:
52. Advantages of this type of business include:easy to start, and you can rely on a good company name and expertise.
53. This business takes raw materials and mass produces goods. Usually it uses robots, computers, assembly lines, and human labor to make goods.
54. Which of the following is a possible cause of diseconomies of scale?
55. A country with a strong business activity that includes advanced technology and a highly educated population.
56. What is a corporate structure in the United States whereby the owners are not personally liable for the company's debts or liabilities?
57. ..... utility is added when a business changes the form of a good or service to make it more useful.
58. Xiaomi launches $ 10bn Hong Kong stock market listing.
59. In Economics, we use the term scarcity to mean;
60. Australia's biggest trading partner is .....
🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books