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Business Economics Quiz 6 (25 MCQs)

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1. Which one of the following is a factor of production?
2. Which of the following might cause supply of a good to decrease:
3. A study of how increases in the corporate income tax rate will affect the national unemployment rate is an example of
4. Which of the following is a reason why some firms remain small?
5. If the manufacturer predicts that their own prices will be reduced in the future.What will happen?
6. A firm's supply curve is on an upward slope because _____
7. Production refers to _____
8. Ricardian theory assumes perfect mobility of Labour
9. A market dominated by a few large firms is called:
10. When the quantity demanded is greater than the quantity supplied it is known as
11. When the demand curve is a rectangular hyperbola, it represents:
12. Internal economies is related to.
13. Business Economics is all about the application of Economic theory in business Practices?
14. Moody's is a_____
15. An oligopoly is defined as a type of market structure where _____ firms havemarket control
16. . Relationship between price and supply is _____
17. Few sellers is the feature of
18. The most important function of an entrepreneur is to _____
19. Activity of making a profit by producing goods and services in exchange for money.
20. Australia's biggest export in 2017 was _____
21. _____ are business costs that vary as the level of production output changes _____ are expenses that the owners of a business must incur whether they produce nothing, a little, or a lot.
22. Micro economics does not cover
23. In which type of economy gives do consumers and producers make their choices baseon the market forces of demand and supply?
24. Land refers to _____
25. Under the new economic policy import licensing was abolished except in case of _____
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