This quiz works best with JavaScript enabled. Home > Economics > Business Economics > Business Economics – Quiz 37 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Business Economics Quiz 37 (20 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. In Porter's five forces model, the analysis of the industrial sector is studied from the supply A) True. B) False. Show Answer Correct Answer: A) True. 2. C= a-bT equation of consumption and tax shows A) Consumption and tax are directly related. B) Consumption and tax are inversely related. C) Tax is dependent on consumption. D) Consumption is independent variable. Show Answer Correct Answer: B) Consumption and tax are inversely related. 3. Coke Zero updates its product label to communicate its sugar free features. This is an example of ..... A) Place Utility. B) Information Utility. C) Form Utility. D) Possession Utility. Show Answer Correct Answer: B) Information Utility. 4. What type of business did the Sherman Antitrust Act try to break up? A) Monopolies. B) Small Business. C) Meat Packaging. D) Joint-Stock Companies. Show Answer Correct Answer: A) Monopolies. 5. What are internal economies of scale? A) Rising average costs when a firm becomes too big. B) Falling average costs due to expansion. C) Cost benefits that an individual firm can enjoy when it expands. D) More investment into large factory machinery. Show Answer Correct Answer: B) Falling average costs due to expansion. 6. Marginal utility approach was given by: A) J.R. Hicks. B) Alfred Marshall. C) Robbins. D) A.C. Pigou. Show Answer Correct Answer: B) Alfred Marshall. 7. The regulation and development of insurance in India is managed by ..... A) FICCI. B) IRDA. C) LIC. D) SEBI. Show Answer Correct Answer: B) IRDA. 8. The cost of next best alternative foregone is: A) Marginal Cost. B) Opportunity Cost. C) Total Cost. D) Diminishing Cost. Show Answer Correct Answer: B) Opportunity Cost. 9. The 5 types of economic utilities are Time Utility, Place Utility, Form Utility, Possession Utility, and Information Utility A) True. B) False. Show Answer Correct Answer: A) True. 10. When the price is more expensiveWhile the demand of shrimp paste is less flexibleWhat will the cost of buying shrimp paste of the housekeeper be like? A) More. B) Reduce. C) Stable. D) Irresistible. Show Answer Correct Answer: A) More. 11. Which of the following products is likely to show price elasticity? A) Fresh fruit. B) Milk. C) Bread. D) Eggs. Show Answer Correct Answer: A) Fresh fruit. 12. In this business model, the company owner grants another business owner the rights to use the company's name, but must sign a contract and follow rules. A) Freemium. B) Subscription. C) Business. D) Franchise. Show Answer Correct Answer: D) Franchise. 13. According to ....., India's banking sector is regulated and capitalized. A) RBI. B) SEBI. C) ICRA. D) CRISIL. Show Answer Correct Answer: A) RBI. 14. Demand curve is A) Downward sloping. B) Upward sloping. C) Vertical straight line like y axis. D) Horizontal straight line like x axis. Show Answer Correct Answer: A) Downward sloping. 15. What is the ratio of a pound of yellow squash @ $ .40 a pound and a pound of butternut squash @ $ 1.20 a pound? A) 1 to 3. B) 1 to 2. C) 1 to 4. D) 1 to 1. Show Answer Correct Answer: A) 1 to 3. 16. Which of the following is characteristic of a buyer's market: A) High demand. B) Steady demand. C) Low supply. D) Low prices. Show Answer Correct Answer: D) Low prices. 17. Micro economics approaches the study of economics from the view point of A) Individual or specific markets. B) World Markets. C) Economy wide effects. D) The national economy. Show Answer Correct Answer: A) Individual or specific markets. 18. First step in the decision making process A) Define the problem. B) Choose best alternative. C) Identify the choices. D) Evaluate Advantages. Show Answer Correct Answer: A) Define the problem. 19. Who defines Economics in terms of Dynamic Growth and Development? A) Robbins. B) Paul and Samuelson. C) Adam Smith. D) None. Show Answer Correct Answer: B) Paul and Samuelson. 20. The external economies is A) Low salary of firm. B) Tax exemption for industry. C) High tax for industry. D) Labour and management disputes of firm. Show Answer Correct Answer: B) Tax exemption for industry. ← PreviousNext →Related QuizzesEconomics 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