Online MCQ Assignment Answer

QN1: MFN stands for

a. Most favoured Nation

b. Most fugitive nation

c. None of the above

d. All of the above

Answer

Answer: a. Most favoured Nation

QN2: A period of rising prices and unemployement but little growth in consumer demand and business activity is known as

a. Stagflation

b. Inflation

c. Competition

d. None of the above

Answer

Answer: a. Stagflation

QN3: An increase in supply of currency or credit relative to the availability of goods and services resulting in higher prices

a. Competition

b. Stagflation

c. Inflation

d. All of the above

Answer

Answer: c. Inflation

QN4: Economic Factors impacting business includes

a. “Tarriffs, Quotas etc”

b. Political risks

c. Acts of God

d. None of the above

Answer

Answer: b. Political risks

QN5: Geological and ecological factors include

a. General Agreement on Tarrifs and Trades

b. Topograhical factors

c. Inflation of white Goods

d. Both (a) and (b)

Answer

Answer: b. Topograhical factors

QN6: “Use of economic theory, mathematical and statastical tools to forecast economic relations”

a. Economic Luck

b. Economic Efficiency

c. Econometric Methods

d. Decision Science

Answer

Answer: c. Econometric Methods

QN7: Which of the following are Brown Goods

a. “Refrigerator, Washing Machines”

b. “Radio , Transistors, televisons”

c. Both (a) and (b)

d. None of the above

Answer

Answer: b. “Radio, Transistors, televisons”

QN8: Markets with small number of large firms producing the bulk of its output

a. Monopoly

b. Oligopoly

c. Both (a) and (b)

d. None of the above

Answer

Answer: b. Oligopoly

QN9: MRTP act was replaced by this act

a. The consumer Protection Act

b. SEBI Act

c. Sick Industrial Companies Act

d. The Competition Act

Answer

Answer: d. The Competition Act

QN10: “Act which authorizes the Government to protect and improve environmental quality, control and reduce pollution “

a. “Environmental Protection Act,1986”

b. MRTP Act

c. The consumer Protection Act

d. SEBI Act

Answer

Answer: a. “Environmental Protection Act,1986”

QN11: The rate at which RBI lends money to commercial banks

a. Repo rate

b. Reverse Repo rate

c. Cash reserve ratio

d. Bank Rate

Answer

Answer: a. Repo rate

QN12: Rate at which RBI borrows money from banks

a. Repo rate

b. Reverse Repo rate

c. Cash reserve ratio

d. Bank Rate

Answer

Answer: b. Reverse Repo rate

QN13: Industrial Policy is about

a. Controlling prics

b. Controlling Quantity

c. Both (a) and (b)

d. None of the above

Answer

Answer: d. None of the above (Industrial policy is about how to make both markets and governments better in their functioning)

QN14: Market which has only one seller of a particular good or service

a. Monopoly

b. Oligopoly

c. Both (a) and (b)

d. None of the above

Answer

Answer: a. Monopoly

QN15: FEMA stands for

a. Foreign Exchange Multinational Act

b. Foreign Exchange Managrial Ability

c. Foreign Exchange Management act

d. None of the above

Answer

Answer: c. Foreign Exchange Management act

QN16: The act which regulates relations between workers and employers for direct negotiations is known as

a. “The Industrial Disputes Act, 1947”

b. International Labour Organization

c. None of the above

d. All of the above

Answer

Answer: a. “The Industrial Disputes Act, 1947”

QN17: Socio-Cultural Environment includes

a. Life-Style Changes

b. Devaluation

c. Consumer Activism

d. Both (a) and (b)

Answer

Answer: a. Life-Style Changes

QN18: FERA Stands for

a. Foreign Exchange Regulation Act

b. Foreign Exchange Registration Act

c. Funding Exchange Regulation Act

d. None of the above

Answer

Answer: a. Foreign Exchange Regulation Act

QN19: RBI can restrict the following

a. Transfer of foreign security by Indian Resident and NRI

b. Transfer of Immovable property

c. Both (a) and (b)

d. None of the above

Answer

Answer: b. Transfer of Immovable property (RBI restrict or regulate the acquisition or transfer of immovable property in India by certain persons mainly residents outside India)

QN20: Business on internet is known as

a. FMCG

b. Black Market

c. E-Biz School

d. E-Commerce

Answer

Answer: d. E-Commerce

QN21: “Those who are willing to take risk in starting new business, pursuing opportunities and being innovative are known as”

a. Brain Drain

b. Budget Line

c. Entrepreneurs

d. Decision Science

Answer

Answer: c. Entrepreneurs

QN22: Attaching a brand mark or brand name to a product in order to distinguish it from other product variants

a. Capitalism

b. Consumer Sovereignty

c. Common Economy

d. Branding

Answer

Answer: d. Branding

QN23: Imperfect Competition can be divided into three main categories

a. Monopoly and Monopsony

b. Oligopoly and Oligopsony

c. Monopolistic Competition

d. All of the above

Answer

Answer: c. Monopolistic Competition

QN24: The objectives of Fiscal Policy are

a. Development of country

b. Provide Employment

c. None of the above

d. Both (a) and (b)

Answer

Answer: c. None of the above (Fiscal policy is the means by which a government adjusts its spending levels and tax rates to monitor and influence a nation’s economy)

QN25: Goal of NAFTA is to

a. Eliminate barriers to trade and investment between three countries

b. Eliminate barriers to trade and investment between all the countries of the world

c. Eliminate barriers to trade and investment between tribes

d. None of the above

Answer

Answer: a. Eliminate barriers to trade and investment between three countries

QN26: A systematic record of all economic transactions between the residents of reporting country and residents of foreign countries is known as

a. Balance of Trade

b. Balance of Payments

c. Both (a) and (b)

d. None of the above

Answer

Answer: b. Balance of Payments

QN27: SAARC Agreement establishes a framework for

a. The exchange of trade concessions among the member states

b. Eliminate barriers to trade and investment between three countries

c. Accelerate Economic Growth

d. All of the above

Answer

Answer: c. Accelerate Economic Growth

QN28: TRIMs stands for

a. Trade Related Investment Measures

b. Trade Related Improvement Measures

c. Trade Related Initiation Measures

d. None of the above

Answer

Answer: a. Trade Related Investment Measures

QN29: The term refers to a corporation’s initiatives to assess and take responsibility for the company’s effects on environmental and social wellbeing

a. Business Cycle

b. Trend analysis

c. Corporate Social Responsibility

d. Expropriation Risk

Answer

Answer: c. Corporate Social Responsibility

QN30: The most useful information derived from a break-even chart is the

a. Amount of sales revenue needed to cover enterprise fixed costs

b. Amount of sales revenue needed to cover enterprise variable costs

c. Volume or output level at which the enterprise break-evens

d. Relationship between revenue and costs at various levels of an activity

Answer

Answer: c. Volume or output level at which the enterprise break-evens

QN31: Competition Act was passed in the year

a. 1947

b. 1956

c. 2002

d. None of the above

Answer

Answer: c. 2002

QN32: The objective of cash discount is

a. to extend the goodwill of a firm

b. to reduce the price of a product

c. to encourage the customers to make prompt payment

d. to increase the number of customers

Answer

Answer: c. to encourage the customers to make prompt payment

QN33: Opportunity cost is a term which describes

a. a bargain price for a factor of production

b. costs related to an optimum level of production

c. variable costs

d. cost of one product in terms of production of others forgone

Answer

Answer: a. a bargain price for a factor of production

QN34: Income which individuals have at their disposal after the payment of personal Tax is known as

a. Gross National Product

b. Net National Product

c. Disposable Income

d. Personal Income

Answer

Answer: c. Disposable Income

QN35: GSTP establishes a framework for

a. Trade Related Investment Measures

b. Exchange of trade concessions among the members of the group

c. Accelerate Economic Growth

d. Incorrect

Answer

Answer: b. Exchange of trade concessions among the members of the group

QN36: The objective of India Trade Promotion Organization is to

a. Promote exports and imports

b. Upgradation of technology through the medium of fairs held in India and abroad

c. Assist Indian companies in product development

d. All of the above

Answer

Answer: d. All of the above

QN37: National Centre for Trade promotion was established to

a. “Provide the latest trade, business and economic information to helpIndian and foreign organizations”

b. Exchange of trade concessions among the members of the group

c. Bargain price for a factor of production

d. Issue Policies to the exporters

Answer

Answer: a. “Provide the latest trade, business and economic information to helpIndian and foreign organizations”

QN38: The main factors of micro-environment are

a. Suppliers

b. Customers

c. Marketing Intermediaries

d. All of the above

Answer

Answer: d. All of the above

QN39: Number of units of the product which must be soldnto earn enough revenue to cover all the expenses-both fixed and variable is known as

a. Forecasting

b. Break-Even Point

c. Fixed Costs

d. Contribution Margin

Answer

Answer: b. Break-Even Point

QN40: The objectives of Information Technology Act are

a. To legalise digital signature

b. Store data electronicallly

c. To stop computer crime

d. All of the above

Answer

Answer: d. All of the above