This quiz works best with JavaScript enabled. Home > Economics > Business Economics > Business Economics – Quiz 40 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Business Economics Quiz 40 (20 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. To ..... means to change from private ownership to government or public ownership; To ..... means to change from government or public ownership to private ownership A) Regulate; Release. B) Regulate; De-Institutionalize. C) Privatize; Nationalize. D) Nationalize; Privatize. Show Answer Correct Answer: D) Nationalize; Privatize. 2. If ice cream and Ping Soo (ice) can be a substitute productWhat will the cross-efficiency of 2 types of products be? A) Positive. B) Negatively. C) Is an infinity. D) Zero. Show Answer Correct Answer: A) Positive. 3. In economics, human wants are considered to be: A) Limited. B) Unlimited. C) Diverse. D) Scarce. Show Answer Correct Answer: B) Unlimited. 4. Find out the correct statement A) Higher the prices, lower the quality demanded of a product is a normative statement. B) Micro and macro-economics are interdependent. C) In a capitalist economy, the economic problems are solved by planning commission. D) In deductive method logic proceeds from particular to the general. Show Answer Correct Answer: B) Micro and macro-economics are interdependent. 5. How to intervene in the government price according to any measures with the objectiveSo farmers can sell products that are fair A) Minimum price determination. B) Customs tax rate increase. C) Buying all kinds of agricultural products. D) Manufacturing quota. Show Answer Correct Answer: A) Minimum price determination. 6. Netflix is an example of this type of business model. A) Subscription. B) Freemium. C) Franchise. D) None of above. Show Answer Correct Answer: A) Subscription. 7. NPA's are also called ..... A) Corruption. B) Good Loans. C) Bad Loans. D) Poor Banking. Show Answer Correct Answer: C) Bad Loans. 8. The term "derived demand" means ..... A) Demand for secondary products only. B) Demand that is dependent on government supplying the product. C) Demand that arises because the supply of the good is reduced. D) Demand that arises because there is demand for another good. Show Answer Correct Answer: D) Demand that arises because there is demand for another good. 9. A country with a strong business activity that includes advanced technology and a highly educated population. A) Developing country. B) Less-developed country. C) Industrialized country. D) None of above. Show Answer Correct Answer: C) Industrialized country. 10. Which of these is a part of microeconomics? A) Factor pricing. B) National Income. C) Balance of payment. D) None. Show Answer Correct Answer: A) Factor pricing. 11. An increase in the general level of prices paid for goods and services over a certain period of time is known as ..... ? A) Inflation. B) GDP. C) Unemployment. D) Economic growth tagsEconomics. Show Answer Correct Answer: A) Inflation. 12. Which of the following statements best describe the IRR? A) The rate of return on the investment calculated based on cash inflows and outflows. B) The rate of return on the investment calculated based on investment capital and profit generate. C) The minimum rate of return required for the business to be profitable. D) The maximum rate of return that business could generate. Show Answer Correct Answer: A) The rate of return on the investment calculated based on cash inflows and outflows. 13. Who is known as the father of green revolution in India? A) Dr.Verghese Kurian. B) Dr. M S Swaminathan. C) Dr. Manmohan Singh. D) Dr. M S Ahluwalia. Show Answer Correct Answer: B) Dr. M S Swaminathan. 14. Which stage represents the range of rational production decision? A) Stage III. B) Stage I. C) Stage II. D) None of above. Show Answer Correct Answer: C) Stage II. 15. Supply 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: B) Upward sloping. 16. Demand refers to A) Desire to buy. B) Ability to buy. C) Willingness to buy. D) All of the above. Show Answer Correct Answer: D) All of the above. 17. Economics is derived from two Greek words "eco" & "nomos, " meaning ..... & ..... respectively A) Society & transaction. B) Home & transaction. C) Home & accounts. D) Society & accounts. Show Answer Correct Answer: C) Home & accounts. 18. A business that carries out activities that are consumed by its consumers A) Retailers. B) Wholesalers. C) Service business. D) Manufacturers. Show Answer Correct Answer: C) Service business. 19. ..... is the study of the economy as a whole where the systems of production, consumption, savings, and investment interact and what this interaction may mean for the economy as a whole. A) Macro economics. B) Micro economics. C) Diverse economics. D) None of the above. Show Answer Correct Answer: A) Macro economics. 20. According to the law of diminishing returns: A) The total product of an input will eventually be negative. B) The marginal product of an input will eventually be negative. C) The marginal product of an input will eventually decline. D) The total product of an input will eventually decline. E) None of the above. Show Answer Correct Answer: C) The marginal product of an input will eventually decline. ← 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