Principles Of Business Knowledge Quiz
(90).jpg "Principles Of Business Knowledge Quiz")
- 1.When Trinidad exchanges its oil for cement from Jamaica, the form of trade is best described as:
- A.
Barter
- B.
Regional trade
- C.
Counter trade
- D.
International trade
- 2.Which of the following statements about the planned economy is INCORRECT?
- A.
Consumers have a choice in the market place.
- B.
Wages can be negotiated between workers and employers.
- C.
The government owns and operates the major national operations.
- D.
The means of production are owned by the government.
- 3.In a free enterprise system, all of the following conditions exist EXCEPT:
- A.
Decisions about prices are made in the market place.
- B.
There is greater ownership of the factors of production by the government than by the private sector.
- C.
Consumers are free to make their choices in the market place.
- D.
Private sector members are encouraged to remain in business because of the opportunity to make a profit.
- 4.In a mixed economy, for which of the following enterprises do governments take responsibility?
- A.
Manufacturing
- B.
Utilities
- C.
Commercial banking
- D.
Construction
- 5.The private sector is composed of the following sections: i). household ii). business iii). government iv). the market place
- A.
I and ii
- B.
i, ii and iv
- C.
i and iii
- D.
Ii, iii and iv
- 6.A group of professional engineers wishing to enter into a business enterprise would most likely operate:
- A.
A co-operative
- B.
A partnership
- C.
A joint-stock company
- D.
A proprietorship
- 7.In which type of system does the state ownership and control all of the country's productive resources?
- A.
Capitalist system
- B.
Mixed system
- C.
Planned system
- D.
Socialist system
- 8.Which of the following business organizations belong to the public sector? i). Nationalized industries ii). Partnerships iii). Public corporations iv). Sole traders
- A.
I and iii only
- B.
Ii an iv only
- C.
i, ii and iii only
- D.
Ii, iii and iv only
- 9.In a partnership, the sleeping partner is one who:
- A.
Contributes not less than three-quarters of the share capital of the business
- B.
Sleeps on the premises as a watchman and is paid a salary
- C.
Takes no active part in the affairs of the business but shares in its profits
- D.
Undertakes the task of implementing the policy decisions of the partnership
- 10.Which ONE of the following is NOT a function of a trade union?
- A.
Assisting in the settlement of industrial disputes
- B.
Bargaining for the rights and privileges of employers
- C.
Bargaining for improvements in workers' wages and working conditions
- D.
Seeking educational, social, and legal benefits for its members
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