MCQOPTIONS
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MCQOPTIONS
This section includes 11 Mcqs, each offering curated multiple-choice questions to sharpen your Economics knowledge and support exam preparation. Choose a topic below to get started.
| 1. |
Which of the following was a socialist country ?_x005F_x000D_I- Holland_x005F_x000D_II- Soviet Union_x005F_x000D_III- China_x005F_x000D_IV- India |
| A. | I and II only |
| B. | II and III only |
| C. | III and IV only |
| D. | I and IV only |
| Answer» C. III and IV only | |
| 2. |
Which of the following is TRUE about gender and business world ? |
| A. | There are more women than men in U.S business because of the aspirations of U.S girls |
| B. | There are relatively few women in U.S business partly because of female socialization |
| C. | LDC businesswomen have a better chance than men of getting credit from bankers and suppliers |
| D. | Businesswomen in India are viewed as naturally stronger, less emotional more socially adept and more rational than businessmen |
| Answer» C. LDC businesswomen have a better chance than men of getting credit from bankers and suppliers | |
| 3. |
Which of the following is not an assumption of Schumpeter’s stationary state ? |
| A. | Perfect competition |
| B. | An economy below full employment |
| C. | No savings or technical change |
| D. | No entrepreneurial function is required |
| Answer» C. No savings or technical change | |
| 4. |
Which of the following is an example of a Schumpeterian innovation ? |
| A. | An existing internet provider provides competition to two other providers in Dayton Ohlio |
| B. | The production and marketing of the Model T Ford in the 19-teens |
| C. | The invention of the Stanley steamer |
| D. | An American buying a stock in the Philippines stock market |
| Answer» C. The invention of the Stanley steamer | |
| 5. |
The Protestant Ethic and the Spirit of Capitalism was written by ? |
| A. | Adam Smith |
| B. | Max Weber |
| C. | Joseph Schumpeter |
| D. | William Baumol |
| Answer» C. Joseph Schumpeter | |
| 6. |
The entrepreneur can be viewed as the ?_x005F_x000D_I- coordinator of other production resources_x005F_x000D_II- decision maker under uncertainty_x005F_x000D_III- innovator_x005F_x000D_IV- gap filler and input completer |
| A. | I and II only |
| B. | II and III only |
| C. | I, II and only |
| D. | I, II, III and IV |
| Answer» E. | |
| 7. |
Monopoly advantage is usually the result of greater opportunities such as ?_x005F_x000D_I- access to more economic information than competitors_x005F_x000D_II- superior access to training and education_x005F_x000D_III- a lower discount of future earnings_x005F_x000D_IV- larger firm size |
| A. | I and II only |
| B. | II and III only |
| C. | I, II and III only |
| D. | I, II, III, and IV |
| Answer» B. II and III only | |
| 8. |
Joseph Schumpeter is the exceptional economist who links the entrepreneur to ? |
| A. | oligopolistic capitalism |
| B. | resource management |
| C. | innovation |
| D. | land and labor |
| Answer» D. land and labor | |
| 9. |
Capitalism is an economies system ? |
| A. | based on government intervention in the means of production |
| B. | that originated in the United States in the 19th Century |
| C. | Where private owners of capital make decisions based on profit |
| D. | that dominated developing economies in the 19 Century |
| Answer» D. that dominated developing economies in the 19 Century | |
| 10. |
According to William Baumol under oligopolistic competition among large, high tech business firms. innovation has ? |
| A. | created stationary economies of scale |
| B. | maintained the relationship between firms and their clients |
| C. | replaced price as the important |
| D. | limited the expansion of firms |
| Answer» D. limited the expansion of firms | |
| 11. |
According to Weber’s thesis ? |
| A. | Protestants disapproved of accumulating wealth |
| B. | Protestants failed to restrict extravagance and conspicuous consumption |
| C. | Roman Catholicism expressed its asceticism in a secular vocation |
| D. | capitalism was most advanced in Protestant countries |
| Answer» E. | |