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Business Economics Quiz 9 (25 MCQs)

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1. Which of the following is an example of a speculative business risk?
2. In imperfect competition marginal revenue falls at _____ than the fall in average revenue.
3. The degree of monopoly power can be measured by the formula
4. Which of the following refers to perfect competition
5. Cross elasticity of demand between two perfect substitutes will be
6. A _____ forms boards to act as governing bodies. It is the most complicated form of business.
7. What is the role of the entrepreneur in the modern economy?
8. A market situation in which there are only few sellers & each seller can influence its price-output policy is called
9. Which type of business organization is managed by a Board of Directors?
10. The consumer is in equilibrium at a point where the budget line
11. At elasticity of one, marginal revenue is equal to
12. The market period supply curve for perishable commodities is
13. Which one of the following best defines the term stakeholder?
14. Indefference curves are normally
15. Two goods for which marginal rate of substitution is zero or infinite
16. Where a business is able to buy new technology and machinery due to it being large
17. Which is NOT a factor influencing decision whether to spend or to save?
18. In the perfect competition at short run, the firm is a price _____ and can sell_____ amount of output at the going market price.
19. _____ curve represents all combinations of market baskets that provide consumer with the same level of satisfaction.
20. This is the other term for environmental analysis.
21. Which of the following is best described as what you are willing to give up to have your first choice?
22. In most businesses, what is the most costly factor of production?
23. A corporation that has at least four businesses, each making unrelated products, none of which is respon-sible for a majority of its sales, is called a
24. Bilateral monopoly means
25. In Imperfect competition total revenue rises at _____ upto an output level and then _____
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