This quiz works best with JavaScript enabled. Home > Economics > Business Economics > Business Economics – Quiz 58 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Business Economics Quiz 58 (20 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. With respect to the method of charging goods to branches, which of the following statements is INCORRECT? A) Goods may be invoiced to branches at cost. B) Goods may be invoiced to branches at selling price. C) Selling price method is a adopted where goods would be sold at a fixed price by the branches. D) Goods can never be invoiced to branches at wholesale price or arbitrage price. Show Answer Correct Answer: D) Goods can never be invoiced to branches at wholesale price or arbitrage price. 2. Money supply includes A) Currency with the public. B) Demand deposits with the banks. C) Time deposits with the banks. D) Both a and b. Show Answer Correct Answer: D) Both a and b. 3. Which of the following industries is likely to be oligopolistic? A) Chicken farming. B) Petrol. C) Restaurant. D) Flower selling. Show Answer Correct Answer: B) Petrol. 4. Where do the majority of finances for a small business come from? A) A bank. B) The owner(s). C) An investor. D) All of the above tagsBusiness Structures. Show Answer Correct Answer: B) The owner(s). 5. Freedom if choice is advantage of- A) Mixed economy. B) Controlled economy. C) Capitalist economy. D) None of the above. Show Answer Correct Answer: C) Capitalist economy. 6. Utility remains unchanged irrespective of time and space A) True. B) False. Show Answer Correct Answer: B) False. 7. All of the following are examples of macro-economic principles except: A) National Income. B) Inflation. C) Unemployment. D) Price. Show Answer Correct Answer: D) Price. 8. SWOT and PESTEL are analytical tools that help identify the key external and internal factors that should be taken into account in order to achieve success in a project or initiative. A) True. B) False. Show Answer Correct Answer: A) True. 9. Sara's family is saving up for something big. They could use a dishwasher and a lawnmower. Instead, they decide to go on vacation at the beach. They buy new swimsuits andsand toys. What is their opportunity cost? A) The swimsuits. B) The sand toys. C) The vacation. D) The dishwasher and lawnmower. Show Answer Correct Answer: D) The dishwasher and lawnmower. 10. When the TU is maximum then MU is? A) Zero. B) Negative. C) Both. D) None. Show Answer Correct Answer: A) Zero. 11. The financial sector can be described as ..... A) Banks that use the deposits collected in order to help businesses grow. B) Financial intermediaries that collect deposits and invest in the growth of businesses. C) Financial intermediaries that allow consumers to open savings accounts. D) Banks that charge interest on loans that are offered to consumers. Show Answer Correct Answer: B) Financial intermediaries that collect deposits and invest in the growth of businesses. 12. Statement1:Emissions legislation could be seen as both Legal and Environmental. Statement2:Corporation tax is a tax on business revenue. A) Statement1 True:Statement 2 True. B) Statement1 True:Statement2 False. C) Statement 1 False:Statement2 True. D) Statement1 False:Statement 2 False. Show Answer Correct Answer: B) Statement1 True:Statement2 False. 13. Adam smith book "An Enquiry Into the Nature and Causes of Wealth of Nations" was published in A) 1576. B) 1874. C) 1776. D) 1930. Show Answer Correct Answer: C) 1776. 14. Generally demand curve have ..... A) Negative slope. B) Positive slope. C) Horizontal line. D) Vertical line. Show Answer Correct Answer: A) Negative slope. 15. Which of the following is the best example of a multinational enterprise? A) The US post office. B) A large Pharmaceutical company. C) A British rail company. D) A Local health company. Show Answer Correct Answer: B) A large Pharmaceutical company. 16. Micro economic approach is A) Total. B) Individualistic. C) Aggregative. D) None of the above. Show Answer Correct Answer: B) Individualistic. 17. The law of DEMAND says that ..... A) The lower the price, the greater the demand. B) The higher the price, the lower the demand. C) The higher the price, the higher the demand. D) The lower the price, the lower the demand. Show Answer Correct Answer: A) The lower the price, the greater the demand. 18. Susie is starting her own lemonade store. What economic term would best describe Susie and what does that term mean? A) Consumer-a person who uses or consumes goods. B) Partnership-partner in the lemonade stand. C) Entrepreneur person who takes a risk to start a new company. D) None of above. Show Answer Correct Answer: C) Entrepreneur person who takes a risk to start a new company. 19. What is a characteristics of a market economy? A) Lack of choice. B) Individual choice. C) Competition. D) Central ownership of property. Show Answer Correct Answer: C) Competition. 20. The demand curve for a monopolistically competitive firm is downward sloping because A) There are a large number of firms. B) The product is produced by using scarce resources. C) The products produced by different firms are not identical. D) It is easy for firms to enter or exit the market. E) The marginal cost rises as output produced increases. Show Answer Correct Answer: C) The products produced by different firms are not identical. ← 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