MBA Business Economics — practice questions
66 free MCQs with worked solutions. Tap any question for the answer + explanation, or practice them all in the app.
Practice MBA Business Economics in the app →Business transactions taking place within the boundaries of one nation are called:Manufacturing and trade beyond the boundaries of one's own country is:Besides goods and services, international business also moves capital, personnel, technology and:International business is broader than international trade because it also covers:The fundamental reason for international business is that countries cannot produce equally well or cheaply:The result of countries producing what they are best suited for is called:Which Indian state is cited as specialising in jute products?Labour-abundant developing countries typically export garments and import:In international business, buyers and sellers differ in language, attitudes and customs because they differ inLabour and capital move less freely between countries than within one country. This difference concerns:Differences in tastes, beliefs and buying habits across countries create:People in China are said to prefer bicycles, while the Japanese like to ride:Indians drive right-hand driven cars while Americans have the steering on the:Political factors such as government type, party system and political risk have a profound impact on:In 1991 India approached which body for funds during its balance of payment crisis?The IMF agreed to lend to India on condition that India would undergo:Which organisation, along with government reforms, increased business relations among nations?Because national economies are becoming borderless, the world is described as a:Consumers in most developing African and Asian countries are described as:Consumers in Japan, the United States and Switzerland show a marked preference for products that are:Consumers in the United States replace TVs and bikes typically within:To succeed overseas, firms must adapt product, pricing, promotion and:An economy with both privately owned and government owned enterprises is called a:Organisations owned and managed by the government form the:The Industrial Policy Resolution that first set out India's approach to industrial development was of:Which industrial policy was radically different, favouring disinvestment and more freedom for private firms?Companies which operate in more than one country are called:The three forms of organising public sector enterprises are departmental undertaking, government company and:The oldest and most traditional form of organising a public enterprise is the:Railways and the post and telegraph department are examples of:Funding for a departmental undertaking comes directly from the:Employees of a departmental undertaking are:A drawback of departmental undertakings is the delay caused by:A public enterprise brought into existence by a Special Act of Parliament is a:A statutory corporation is a body corporate, so it can:Employees of a statutory corporation are governed by:A statutory corporation is described as a valuable instrument for economic development because it combines govA government company is established under which law?A government company is one in which government holds not less than what share of paid up capital?Shares of a government company are purchased in the name of the:The auditor of a government company is appointed by the:An advantage of a government company is that it has a separate legal entity apart from the:A continuously loss-making public sector unit was referred for overhaul or shutdown to the:The public sector was expected to build which base that the private sector would not invest in?The study of how a society uses scarce resources to produce and distribute goods is:The resources used to create goods and services are called the:A branch of economics that looks at the whole economy rather than single households is:The branch focusing on individual parts such as households or single firms is:A system built on marketplace competition and private ownership of resources is:A system where the government owns virtually all resources is:A system where basic industries are state-owned or under strong state control is:Economies that combine several systems, part private and part state, are:The quantity of a good people are willing to buy at various prices is:The point at which the quantity demanded equals the quantity supplied is:The total market value of all final goods and services produced within a country is:A decline in that measure lasting at least two consecutive quarters is a:A situation in which the average of all prices is rising is:The value of what money can actually buy is called:The index tracking prices of a market basket of goods bought by households is the:The government's use of taxation and spending to affect the economy is:Government programmes controlling the amount of money circulating make up:The amount of goods and services one worker can produce is:A market where a single firm accounts for all sales and entry is blocked is a:A market where a few firms produce most or all of the output is an:Many firms selling close but not identical substitutes describes:A country's output of goods and services that people can buy with their money is its: