Business Economics
FYB.COM Business Economics Multiple Choice Questions With Answers
1) The market demand schedule shows an _____ relationship between price and demand.
A) DirectB) NoC) InverseD) None of
Ans : Inverse
2) The market demand curve slopes _____.
A) UpwardsB) HorizontalC) VerticalD) Downward
Ans : Downward
3) _____ refers to the total quantities of commodity offered for sale by all in producers.
A) Equilibrium priceB) Market demandC) None of theseD) Market supply
Ans : Market supply
4) When the market schedule is plotted on a graph we get _____ curve.
A) Equilibrium pointB) Market demandC) None of theseD) Market supply
Ans : Market supply
5) The market supply curve slopes _____ to the right.
A) DownwardB) UpwardsC) VerticalD) Horizontal
Ans : Downward
6) The _____ is determined by the interaction of market demand and supply.
A) MarketB) PriceC) Equilibrium pointD) None of these
Ans : Market
7) The point at which quantity demand equals to supply is the _____.
A) Equilibrium pointB) None of theseC) EVSD) FRM
Ans : Equilibrium point
8) With an increase in supply, demand remaining unchanged, the equilibrium price _____.
A) RaisedB) FallsC) ConstantD) None of these
Ans : Falls
9) _______ involves all those activities which facilitate transfer of ownership and movement of goods from the centres of production to the centres of consumption
A) CommerceB) ScienceC) ArtsD) Bio
Ans : Commerce
10) ___trade involves buying in smaller lots from the wholesaler’s and Selling in very small quantities to the consumers for personal consumption
A) Retail TradeB) Sales TradeC) Managing TradeD) Promotion Trade
Ans : Retail Trade
11) When goods are imported from one country and then re exported to some other country, it is called _____
A) Sales TradeB) Managing TradeC) Promotion TradeD) Entrepot trade
Ans : Entrepot trade
12) ____fills the place gap in commerce
A) TransportB) Goods & ServicesC) DrivingD) Services
Ans : Transport
13) ______ are the intermediaries who form a link between the buyers and the sellers
A) Mercantile AgentsB) LiberalizationC) EconomicD) Micro
Ans : Mercantile Agents
14) ______ is a significance of business to consumer
A) Goods PriceB) Reasonable priceC) Services PriceD) Communication Price
Ans : Reasonable price
15) ______ is a significance of business to firms
A) Expansion of businessB) Growth Of BusinessC) Progress Of BusinessD) Person Of Business
Ans : Expansion of business
16) _____ concept is a social orientation
A) ModernB) SAARCC) MicroD) Business
Ans : Modern
17) ______ are the goal, aims or purposes that organisations wish to achieve over varying period of time.
A) SAARCB) MicroC) BusinessD) Objectives
Ans : Objectives
18) _____environmental factors include human resources, financial resources, physical facilities
A) InternalB) ExternalC) SAARCD) Micro
Ans : Internal
19) _____ is a set of consistent ethical values followed by an individual or an organisation
A) Value SystemB) Value of BusinessC) Value Of PlantD) Value Of Programs
Ans : Value System
20) ______ is an organic objective
A) SurvivalB) SAARCC) MicroD) Business
Ans : Survival
21) ____ is an economic objective
A) Utilisation of ResourcesB) ManagementsC) Liability ResourcesD) Comities Resources
Ans : Utilisation of Resources
22) The social objective applies towards all except
A) UFGB) UFOC) UIDD) NDH
Ans : UFO
23) All except ____ is human objective of business
A) RansB) FameC) CameD) Gond
Ans : Fame
24) The government has introduced , it aims at promoting healthy competition rather than interfering in the working of large companies.
A) Competition Act 2019B) Competition Act 2002C) Competition Act 2015D) Competition Act 2017
Ans : Competition Act 2002
25) ___ refers to interlinking of domestic economy with the world economy it involves reduction or withdrawal or custom duties, quotas restrictions and so on
A) GlobalisationB) Competition ActC) LiberalizationD) Bio ligation
Ans : Globalisation
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