This quiz works best with JavaScript enabled. Home > Finance > Economics > Business Economics > Business Economics – Quiz 9 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Business Economics Quiz 9 (30 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Joe has good reason to suspect that his investments in XYZ Manufacturing are being fraudulently recorded and used by the accountants of that company. In order to start a legal investigation, he needs to go to the American Institute of Certified Public Accountants. A) False. B) True. Show Answer Correct Answer: A) False. 2. The main purpose of ..... was to enable commercial banks to raise funds from the market. A) Treasury Bills. B) Certificate of Deposits. C) Commercial Papers. D) Call and Notice Money Market. Show Answer Correct Answer: B) Certificate of Deposits. 3. What name is given to the value of the next best alternative that you give up when you make a decision? A) Lost opportunities. B) Opportunity cost. C) Trade-offs. D) Options. Show Answer Correct Answer: B) Opportunity cost. 4. Imperfect compitition was introduced by A) Marshall. B) Chamberlin. C) Keynes. D) None. Show Answer Correct Answer: A) Marshall. 5. The FIPB was abolished on ..... A) 20th June 2015. B) 5th June, 2014. C) 24th May 2017. D) 7th July, 2000. Show Answer Correct Answer: A) 20th June 2015. 6. What causes economic problems? A) Unlimited Wants. B) Alternative Uses. C) Limited or Scare means. D) All of the above. Show Answer Correct Answer: D) All of the above. 7. Which of the following does not improve the quality / productivity of land? A) Migration. B) Drainage. C) Genetically-modified crops. D) Reclamation. Show Answer Correct Answer: A) Migration. 8. What is a Trade-off A) The study of how peoples need to satisfy their needs and wants by making choices. B) All the alternatives that we give up whenever we choose one course of action over another. C) When economic resources are limited. D) When the people determine what gets made and how and who. Show Answer Correct Answer: B) All the alternatives that we give up whenever we choose one course of action over another. 9. Macro-economic analysis explains what determines the level of ..... A) National income. B) Personal income. C) Profit of Firm. D) None of above. Show Answer Correct Answer: A) National income. 10. A result of not keeping on top of debt payments and therefore accumulating more debt through interest and extra borrowing is called a A) Debt rotation. B) Debt cycle. C) Debt circle. D) Debt pattern. Show Answer Correct Answer: B) Debt cycle. 11. Electronic conferencing is popular because it reduces travel expenses and saves money. A) False. B) True. Show Answer Correct Answer: B) True. 12. 'Economics is the study of mankind in the ordinary business of life' was given by: A) Adam Smith. B) Lord Robbins. C) Alfred Marshall. D) Samuelson. Show Answer Correct Answer: C) Alfred Marshall. 13. It is a Financial Gain, especially the difference between the amount earned and the amount spent A) Profit. B) Expenditure. C) Capital. D) Investment. Show Answer Correct Answer: A) Profit. 14. Natural resources are ..... A) Man made materials. B) Raw materials that come from Earth. C) Raw materials that need to be cooked. D) Ant kind of materials. Show Answer Correct Answer: B) Raw materials that come from Earth. 15. A new surf shop opens in the middle of Brooklyn, New York. This shop lacks ..... A) Information Utility. B) Possession Utility. C) Time Utility. D) Place Utility. Show Answer Correct Answer: D) Place Utility. 16. WHAT IS MONOPOLY A) A price maker. B) Price taker. C) Both. D) Price predator. Show Answer Correct Answer: A) A price maker. 17. Who has defined economics as "Science which deals with wealth" ? A) Adam Smith. B) A.C. Pigou. C) J.B. Say. D) Canon. Show Answer Correct Answer: C) J.B. Say. 18. Capitalistic Economy uses ..... as principal means of allocating resources. A) Demand. B) Supply. C) Price. D) All of the above. Show Answer Correct Answer: C) Price. 19. In long-term productionWhat is the saving of the size? A) The production of more products is reduced. B) Having expertise in production. C) Production conductivity causes various costs to decrease. D) Increased production has increased variable costs as before. Show Answer Correct Answer: A) The production of more products is reduced. 20. Macro Economics has: A) No Scope. B) Narrow Scope. C) Limited Scope. D) Wide Scope. Show Answer Correct Answer: D) Wide Scope. 21. An assembly line is an example of a custom-products layout. A) False. B) True. Show Answer Correct Answer: A) False. 22. The managerial economics- A) Is Applied Economics that fills the gap between economic theory and business practice. B) Is just a theory concept. C) Trains managers how to behave in recession. D) Provides the tools which explain various concepts. Show Answer Correct Answer: A) Is Applied Economics that fills the gap between economic theory and business practice. 23. Mr. A. campaign that if he was elected as prime ministerEveryone who rented the houseWill pay the rent of not more than 20 percent of his own monthly income. Mr. A.'s policy is a price intervention in any form. A) A housing price ceiling. B) Housing equilibrium. C) A housing surplus. D) A housing price floor. Show Answer Correct Answer: A) A housing price ceiling. 24. What is Scarcity? A) Needs and Wants. B) Unlimited Needs and Wants. C) When something is in short supply. D) When something is rare and expensive. Show Answer Correct Answer: C) When something is in short supply. 25. The economy is the total of all activities for the purpose of ..... A) Producing, marketing and selling goods and services in a country. B) Creating, designing and exploring goods and services in a country. C) Producing, distributing and consuming goods and services in a country. D) Producing, distributing and selling foods and services in a country. Show Answer Correct Answer: C) Producing, distributing and consuming goods and services in a country. 26. A firm experiences decreasing marginal return only when A) Stage 2. B) Stage 1. C) Stage 4. D) Stage 3. Show Answer Correct Answer: A) Stage 2. 27. What type of network links computers and workstations, usually within one building? A) Local area (LAN). B) Wide area. C) Satellite communication. D) Personal digital. Show Answer Correct Answer: A) Local area (LAN). 28. Rashtriya Swasthya Bima Yojana was launched in the year ..... A) 2015. B) 2017. C) 2010. D) 2008. Show Answer Correct Answer: D) 2008. 29. Which age group has the highest car insurance premiums? A) 18-21. B) 18-25. C) 16-20. D) 18-22. Show Answer Correct Answer: B) 18-25. 30. Consumer's surplus is also known as A) Buyer's surplus. B) Indifference surplus. (C). C) Elasticity of supply. D) Indifference surplus. Show Answer Correct Answer: A) Buyer's surplus. ← PreviousNext →Related QuizzesEconomics QuizzesFinance QuizzesBusiness Economics Quiz 1Business Economics Quiz 2Business Economics Quiz 3Business Economics Quiz 4Business Economics Quiz 5Business Economics Quiz 6Business Economics Quiz 7Business Economics Quiz 8 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books