Test: Business Organisation - 2


30 Questions MCQ Test Business and Commercial Knowledge | Test: Business Organisation - 2


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QUESTION: 1

Three basic types of economic systems are ...

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QUESTION: 2

The basic ideas that make a free enterprise system work are ...

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QUESTION: 3

When referring to a free enterprise system, "private property" means that ...

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QUESTION: 4

The phrase "profit is the incentive for business" means that profit ...

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QUESTION: 5

Competition occurs if ...

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QUESTION: 6

Which of the following is not an example of a situation that increases profit in a free enterprise system?

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QUESTION: 7

Canada's economy is referred to as a mixed economy because ...

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QUESTION: 8

A centrally planned economy promotes ...

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QUESTION: 9

A centrally planned economy has ...

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QUESTION: 10

What is the basic question(s) all economic systems try to answer?

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QUESTION: 11

What is an economic problem every nation has?

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QUESTION: 12

When deciding "what to produce", what is said to be limited?

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QUESTION: 13

Who makes the decisions in a Free Enterprise economy?

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QUESTION: 14

In a Free Enterprise economy, private property is...

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QUESTION: 15

What is the main goal of a Mixed Economy?

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QUESTION: 16

An economic system answers the __________, ___________, and __________ questions.

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QUESTION: 17

In a command economy, the three economic questions are answered by which of the following?

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QUESTION: 18

 A principal feature of a command economy is that ______________________.

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QUESTION: 19

Which of the following is a strength of a command-based economic system?

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QUESTION: 20

Most of the world's economies are mixed economies because _____________.

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QUESTION: 21

The term "capitalism" refers to which of the following?

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QUESTION: 22

The term "socialism" refers to which of the following?

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QUESTION: 23

What is the classical view of management's social responsibility?

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QUESTION: 24

What does the socio - economic view of social responsibility talk about?

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QUESTION: 25

Who was the most outspoken advocate of the classical view of management's responsibility?

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QUESTION: 26

What is the only concern of stock holders?

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QUESTION: 27

Which of the following is a disadvantage of social responsibility?

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QUESTION: 28

__________ is when a firm engages in social actions because of its obligation to meet certain economic and legal responsibilities.

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QUESTION: 29

When social criteria is applied on investment decisions it is called ____

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QUESTION: 30

The recognition of the close link between an organisation's decisions and activities and its impact on the natural environment is called __________.

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