This quiz works best with JavaScript enabled. Home > Economics > Business Economics > Business Economics – Quiz 68 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Business Economics Quiz 68 (20 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. The money market is a part of the financial market which deals in borrowing and lending of ..... A) Short-term Loans. B) Medium-term Loans. C) Long-term Loans. D) Capital Transactions. Show Answer Correct Answer: A) Short-term Loans. 2. ..... is an economic system in which the government owns all the factors of production and there is little or no political freedom. A) Socialism. B) Communism. C) Capitalism. D) Centrally planned economy. Show Answer Correct Answer: B) Communism. 3. The word 'Economics' originates from the word ..... A) Peculiar. B) Economy. C) Economic. D) Ekconomics. Show Answer Correct Answer: A) Peculiar. 4. Ricardian theory assumes that A) Labour is homogeneous and of same efficiency in all the countries. B) Labour is homogeneous within the country. C) Labour differs in efficiency within the country. D) Labour is heterogeneous. Show Answer Correct Answer: B) Labour is homogeneous within the country. 5. The term mixed economy denotes ..... A) Co-existence of consumer and producer's goods industries in an economy. B) Co-existence of private and public sector in an economy. C) Co-existence of urban and reral sectors in an economy. D) Co-existence of Large and small industries in an economy. Show Answer Correct Answer: B) Co-existence of private and public sector in an economy. 6. Due to current concerns over accounting fraud, certified public accountants are now licensed by the Securities and Exchange Commission. A) Threaten. B) False. Show Answer Correct Answer: B) False. 7. True or false:a change in equity at the end of the year is the result of the net profit of a company throughout the year A) True. B) False. Show Answer Correct Answer: A) True. 8. To stimulate the economy, the government is likely to A) Increase spending. B) Restrict trade. C) Raise prices. D) Decrease expenses. Show Answer Correct Answer: A) Increase spending. 9. Which of the following statements regarding market economy is not true? A) Price plays a major role in a market economy. B) The government controls production and distribution of goods. C) Consumers choose the goods they want. D) Efficiency is achieved through the profit motive. Show Answer Correct Answer: B) The government controls production and distribution of goods. 10. Process of finding future values of demand on the basis of historical data is called? A) Demand anlaysis. B) Demand output. C) Demand forecasting. D) All of these. Show Answer Correct Answer: C) Demand forecasting. 11. The quantity of a product consumers are willing and able to buy at a given price. A) Supply. B) Competition. C) Demand. D) Scarcity. Show Answer Correct Answer: C) Demand. 12. Higher prices that result from a tax on luxury goods are likely to result in A) Fewer customers and less productivity. B) More customers and more productivity. C) Fewer customers and more productivity. D) More customers and less productivity. Show Answer Correct Answer: A) Fewer customers and less productivity. 13. What are 3 things pricing may be based on? A) Product, promotion, and service. B) Cost, Demand, and Competition. C) Cost, Demand, and Customers. D) Price, Promotion, Professionalism. Show Answer Correct Answer: B) Cost, Demand, and Competition. 14. Which of the following is not a characteristic of labour? A) Its inseparable from labourer. B) It is immobile and passive. C) It is human efforts. D) It is rewarded with wages. Show Answer Correct Answer: B) It is immobile and passive. 15. Which of the following is also called narrow money? A) M1. B) What. C) With. D) Mh. Show Answer Correct Answer: A) M1. 16. Macroeconomics deals with ..... A) Economic aggregates. B) The behavior of the electronics industry. C) The behavior of firms. D) The activities of individuals units. Show Answer Correct Answer: A) Economic aggregates. 17. The client is understood to be the group of companies that are direct buyers of the product/service offered by the sector A) True. B) False. Show Answer Correct Answer: B) False. 18. What is the full form of IMF? A) Indian monetory fund. B) International money fund. C) International monetary fund. D) Intellectual monetory function. Show Answer Correct Answer: C) International monetary fund. 19. Government price determinationIn a way known as Price Floors, what will happen? A) Excess supply. B) The supply line moves to the left. C) The supply line moves to the right. D) Excess demand for tags Price Floor Price Controls. Show Answer Correct Answer: A) Excess supply. 20. Which of the following statements is normative? A) A. Large government deficits cause an economy to grow more slowly. B) People work harder if the wage is higher. C) The unemployment rate should be lower. D) Printing too much money causes inflation. Show Answer Correct Answer: C) The unemployment rate should be lower. ← 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