Description : In a pure market economy who determines which goods and services are produced and in what quantities?
Last Answer : Need answer
Description : GDP is defined as (a) The market value of all goods and services produced in the domestic economy during the year ; (b) Current value of all the capital goods produced in the country. ; (c) ... during the year. ; (d) All the capital goods and consumable goods produced and sold during the year
Last Answer : (a) The market value of all goods and services produced in the domestic economy during the year ;
Description : People barter and trade goods. Economic decisions are based on customs. Economies are usually rural and farm-based. Which economic system is described by the list A. mixed B. market C. traditional D. command?
Last Answer : c
Description : 1) Which among the following could be said to be an 'Open Economy'? a) A nation that follows the doctrine of Free-market and Laissez-faire economics b) A nation that trades with other ... services and financial assets c) An economy that operates without government intervention d) None of the above
Last Answer : : b) A nation that trades with other nations in goods and services and financial assets
Description : A purchase manager of a company has to purchase 500 tones of raw material. Apart from the other suppliers in the market, his son also supplies that raw material. The manager purchases the ... Unity of Command b. Unity of Directions c. Subordination personal interest to general interest d. Equity
Last Answer : c. Subordination personal interest to general interest
Description : A mixed economy is necessarily a _____. A. controlled. B. planned. C. organised. D. planned, organised and controlled.
Last Answer : D. planned, organised and controlled.
Description : Which of the following is NOT an example of a global strategy? a) The British subsidiary of global insurance group Aviva develops a new product for the UK market. b) IKEA sells ... Walmart withdraws from Germany in order to avoid changing its global strategy of selling low-priced products.
Last Answer : The British subsidiary of global insurance group Aviva develops a new product for the UK market
Description : Gross National Product is the money measure of - (1) all tangible goods produced in a country (2) final goods and services produced in the economy (3) services generated annually in the economy (4) all tangible goods available in the economy
Last Answer : (2) final goods and services produced in the economy Explanation: Gross national product (GNP) is the market value of all products and services produced in one year by labour and property supplied ... (including income of those located abroad), minus income of non-residents located in that country.
Description : What is Gross National Product: A. The total output of goods and services produced by the country’s economy B. The total domestic and foreign output claimed by residents of the country C. The sum of gross domestic product and investment
Last Answer : B. The total domestic and foreign output claimed by residents of the country
Description : Gross National Product is the money measure of (1) all tangible goods produced in a country (2) final goods and services produced in the economy (3) services generated annually in the economy (4) all tangible goods available in the economy
Last Answer : final goods and services produced in the economy
Description : Why do firms produce goods and services in a market economy?
Last Answer : Feel Free to Answer
Description : With which form of economy is the term 'Laissez-faire' associated? (1) Capitalist economy (2) Socialist economy (3) Mixed economy (4) Command economy
Last Answer : (1) Capitalist economy Explanation: In economics, laissez-faire means allowing industry to be free of state intervention, especially restrictions in the form of tariffs and government monopolies. ... industrial growth in the late 19th century both occurred in a laissezfaire capitalist environment.
Description : With which form of economy is the term ‘Laissez-faire’ associated ? (1) Capitalist economy (2) Socialist economy (3) Mixed economy (4) Command economy
Last Answer : Capitalist economy
Description : A mixed economy works primarily through the - (1) market mechanism (2) central allocative machinery (3) market mechanism regulated by Government policy (4) market mechanism guided by Government participation and planning
Last Answer : (4) market mechanism guided by Government participation and planning Explanation: Mixed economy is an economic system in which both the state and private sector direct the economy, ... enterprises and the accumulation of capital remain the fundamental driving force behind economic activity.
Description : A mixed economy works primarily through the (1) market mechanism (2) central allocative machinery (3) market mechanism regulated by Government policy (4) market mechanism guided by Government participation and planning
Last Answer : market mechanism guided by Government participation and planning
Description : Which of the following is not the example of unfair trade practice? a. Wrong information about goods/services b. Compelling consumers to buy gas stove while getting gas connection c. Not observing prescribed standards d. Indulging in Hoarding
Last Answer : b. Compelling consumers to buy gas stove while getting gas connection
Description : The WTO concentrates on a. Goods b. Services c. Goods & Services d. None of the above
Last Answer : c. Goods & Services
Description : ________is the business through which new ideas and innovations are given a sharp and are converted into useful products and services . A. Market Leadership. B. Challenge. C. Joy of Creation. D. Growth.
Last Answer : C. Joy of Creation.
Description : What are the potential benefits of moving from a command economy to a market based system?
Description : Private ownership of property and resources is a characteristic of _____________ economy. a) socialist b) command c) market d) traditional
Last Answer : c) market
Description : Aneconomy in which there are no flows of labour, goods or money to and from other nations is a/an - (1) slow economy (2) mixed economy (3) closed economy (4) open economy
Last Answer : (3) closed economy Explanation: An economy that does not interact with the economy of any other country is known as closed economy. A closed economy is selfsufficient, meaning no imports are brought in ... It is the opposite of an open economy, in which a country conducts trade with outside regions.
Description : Which statement about the US economy is wrong? (A) The US has a capitalist mixed economy. (B) The US national debt is the world's largest. (C) The US economy is shaped by the country's ... infrastructure, and high productivity. (D) The USA is the largest exporter and importer of goods in the world.
Last Answer : (D) The USA is the largest exporter and importer of goods in the world.
Description : An economy in which there are no flows of labour, goods or money to and from other nations is a/an (1) slow economy (2) mixed economy (3) closed economy (4) open economy
Last Answer : closed economy
Description : The person who promises to make good the loss is called the ___ a) Indemnified b) None of these c) Indemnifier d) Indemnifier holder
Last Answer : c) Indemnifier
Description : Has the per capita income increased or decreased from 1980 to 2009 ___. A. increased. B. decreased. C. medium. D. narrow.
Last Answer : C. medium.
Description : The era of deregulation / liberalization begin in ___. A. 1950and51. B. 1980. C. 1991. D. 1960.
Last Answer : A. 1950and51.
Description : One concept of culture determines the ___ of people. A. experience. B. ethics. C. education. D. wealth.
Last Answer : B. ethics.
Description : ___ is defined as systematic assessment of the social impact of the activities of a business firm. A. Social audit. B. Social responsibility. C. Social interaction. D. Social benefit
Last Answer : A. Social audit.
Description : ___ environment is beyond the control of the business. A. Internal. B. External. C. Micro. D. Macro.
Last Answer : B. External.
Description : In a Laissez-faire economy (1) the customers take all the decisions regarding production of all the commodities (2) the Government does not interfere in the free functioning of demand and ... of various commodities produced (4) the Government controls the allocation of all the factors of production
Last Answer : the Government does not interfere in the free functioning of demand and supply forces in the market
Description : “ What is the difference between a pure market economy and a mixed-market economy “?
Last Answer : In a mixed-market econom, the government imposes regulations on the production of goods and services.
Description : How would your life be different without an influx of low priced consumer goods (i.e. clothing, appliances, stuff) from China?
Last Answer : I would have less money in my checking account
Description : High-priced goods which are kept in use for a relatively long time and so are not replaced very frequently are called _____________ 1. White goods 2. Yellow goods 3. Red goods 4. Orange goods 5. None of these
Last Answer : Yellow goods
Description : Advertising appropriations are largest for which type of product 1. industrial products 2. convenience goods 3. high-priced products 4. specialty goods 5. infrequently purchased goods
Last Answer : convenience goods
Description : Advertising appropriations are largest for which type of product? A)Industrial products B)Convenience goods C)High-priced products D)Specialty goods E)Infrequently purchased goods
Last Answer : B)Convenience goods
Description : India is good example for ________economy. A. socialist. B. mixed . C. capitalist. D. communist.
Last Answer : B. mixed .
Description : A mixed economy refers to an economic system where - (1) The economy functions with foreign collaboration (2) Only t he private sector operates under government control (3) Both the government and the private sectors operate sectors operate simultaneously (4) No foreign investment is allowed
Last Answer : (3) Both the government and the private sectors operate sectors operate simultaneously Explanation: Mixed economy is an economic system in which both the state and private sector direct the ... and that the government wields indirect influence over the economy through fiscal arid monetary policies.
Description : A mixed economy refers to an economic system where (1) The economy functions with foreign collaboration (2) Only the private sector operates under government control (3) Both the government and the private sectors operate sectors operate simultaneously (4) No foreign investment is allowed
Last Answer : Both the government and the private sectors operate sectors operate simultaneously
Description : Consumers look closely at service quality when comparing competing services because 1. they perceive all services to be essentially the same 2. all services are priced about the same 3. ... the only relevant service characteristic 4. services are very difficult to evaluate 5. none of these
Last Answer : services are very difficult to evaluate
Description : Consumers look closely at service quality when comparing competing services because A)they perceive all services to be essentially the same. B)all services are priced about the same. C)quality is the only relevant service characteristic. D)services are very difficult to evaluate.
Last Answer : D)services are very difficult to evaluate.
Description : What in a mixed-market economic system who determines what products should be produced and how they should be produced?
Last Answer : government
Description : he unpaid seller has right of stoppage of goods in transit only where the buyer A. Become insolvent B. Refuses to pay price C. Acts fraudulently D. All of these
Last Answer : A. Become insolvent
Description : There is more need of working capital in business where demand is to be seasonal. What out of the following is the cause? a. Capital remains stuck up for a long time in the raw material b. Capital ... stuck up for a long time in the manufactured goods. c. Both of these d. More machines are needed
Last Answer : c. Both of these
Description : ………………………… is explained in the indent. a. Name of Goods b. Quality of Goods b. Price of Goods d. All of the above
Last Answer : d. All of the above
Description : On sellers wrongful refusal to deliver the unascertained goods to the buyer, the buyer can file a suit for recovery of a)goods b)damages c)both (a) and (b) d)none of these
Last Answer : d)none of these
Description : where by exercising the right of stoppage in transit the unpaid seller regains the possession of goods, then a) unpaid seller lien revives b)contract of sale in terminated c) unpaid seller lien does not revive d)sellers possession in unlawful
Last Answer : c) unpaid seller lien does not revive
Description : The unpaid seller can exercise his right of stoppage of goods in transit where the buyer a)refuse to pay price b)acts fraudulently c)become insolvent d)all of these
Last Answer : d)all of these
Description : In case a condition is changed to the status of a warranty ,then the buyer a)loses the right to reject goods b)retains right claim damages only c)both (a) and (b) are true d)both (a) and (b) are false
Last Answer : c)both (a) and (b) are true
Description : In which of the following cases, the unpaid seller loses his right of lien? a) delivery of goods to buyer b)delivery of goods to carrier c) tender of price by buyer d) all of these
Last Answer : c) tender of price by buyer
Description : In Case of unconditional contract of sale, the property passes to the buyer at the time of making the contract. for this to apply, the goods must be a) specific b)in a deliverable state c) physically transferred to buyer d)both(a) and (b)
Last Answer : a) specific