Business Economics Quiz 41 (20 MCQs)

Quiz Instructions

Select an option to see the correct answer instantly.

1. A bank will NOT provide .....

Correct Answer: C) Packaged holidays.

2. Discounts, price cutting, Advertisements, etc in capitalist economy are-

Correct Answer: C) Method of handling competition.

3. A school begins offering tutoring hours to meet the needs of their working students who are seeking tutoring. This is example of .....

Correct Answer: C) Time Utility.

4. Perfectly elastic demand curve is a ..... curve

Correct Answer: C) Horizontal.

5. If a company's assets exceed its liabilities, owners' equity is negative.

Correct Answer: B) False.

6. Which of the following is the factor that affects demand? "The popularity of a good or service has a strong effect on the demand for it."

Correct Answer: B) Consumer Tastes.

7. What happens when DEMAND INCREASES (people want more), but SUPPLY DECREASES (the maker puts out less of the product)?

Correct Answer: A) Prices go up.

8. What was the time duration of Three Annual Year Plans in India?

Correct Answer: A) 1966-1969.

9. The dynamism of the environment depends on the speed of changes in environmental factors and their depth

Correct Answer: A) True.

10. Which is the first book of Economics named as .....

Correct Answer: A) The Wealth of Nations.

11. A system by which people get a living and satisfy their want is .....

Correct Answer: D) Economy.

12. Who was the first chairman of planning commission of India?

Correct Answer: D) Pandit Jawaharlal Nehru.

13. It includes a reward for the riskiness of investments:

Correct Answer: D) Profit.

14. What is a need

Correct Answer: A) Something essential for survival.

15. True or False. All Australian companies are listed on the Australian Stock Exchange (ASX)?

Correct Answer: B) False tagsBusiness Structures.

16. A GARBAGE TRUCK DRIVER IS AN EXAMPLE OF WHICH FACTOR OF PRODUCTION?

Correct Answer: A) Labour.

17. Identify the need in this list

Correct Answer: B) Water.

18. What factor of production's function is to make decisions and take risks?

Correct Answer: B) Enterprise.

19. Fixed Cost divided by the quantity of output.

Correct Answer: A) Average Fixed Cost.

20. A ..... proportion of labourers in India are working in the Unorganised sector.

Correct Answer: A) Large.