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Business Economics Quiz 20 (25 MCQs)

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1. Which of the following is not a determinant of demand?
2. A graph containing a set of indefference curves showing the market basket among which a consumer is indefferent is called
3. A company is worried that about the norms and customs of a country would need to consider which component of the international business environment?
4. The Cobb Douglas production function Q = 4 K0.6L 0.3 Exhibit.
5. Which form of business is the easiest for beginners?
6. When people are employed on short term contracts it is an example of
7. All the activities concerned with _____ and _____ are economic activities.
8. When the demand of a commodity also depends upon prices of the substitutes & complementaries or relative prices then it is called
9. Which government tax provides free healthcare to Australians?
10. Income elasticity is computed by
11. A cooperative is
12. _____ Defined Business Economics in reference with preparation of policies?
13. Study of demand over two periods is called
14. Effective efforts put to acquire something will be _____
15. Total production will be maximum when
16. A company that would like to build a golf course that could be played year round would need to consider which component of the international business environment?
17. Which of the following is a problem associated with communist command economies?
18. A term for all the activities involved inn developing and exchanging products.
19. It is an implicit agreement between the buyers and the sellers
20. Something we would like to have but can survive without
21. What does the Circular Flow show?
22. Into what two categories can wants be divided?
23. In a monopoly market, an upward shift in the market demand results in a new equilibrium with
24. A perfectly competitive market in the short run will be in equilibrium where
25. When marginal utility is negative then total utility
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