Introduction to Business Tutorial 1

1.

Multiple Choice

45 sec

1 pt

The study of the national economy and the global economy is called _______.

microeconomic

macroeconomic

strategic company

comprehensive economy

2.

Multiple Choice

45 sec

1 pt

_________ is an economic system in which individuals own and operate the majority businesses that provide goods and services.

capitalism

socialism

mix economy

islamic economy

3.

Multiple Choice

45 sec

1 pt

Listed below are the factors of production in business, EXCEPT:

consumer

capital

entrepreneurship

land and natural resources

4.

Multiple Choice

45 sec

1 pt

The right to own land, to keep the majority of the profits, the right of freedom of competition and the right to freedom of choice are features of which economic system?

socialism

capitalism

marxism

communism

5.

Multiple Choice

45 sec

1 pt

A market that has only one seller due to barrier created to avoid other firms from entering the market is called ______.

perfect competition

oligopoly

monopoly

monopolistic competition

6.

Multiple Choice

45 sec

1 pt

“Imposed solely to generate income for the government”

The above statement refers to the ___________________.

export tariff

import tariff

revenue tariff

protective tariff

7.

Multiple Choice

45 sec

1 pt

Principles that contains behavioural codes to determine what is right, what is wrong”

This statements defines ________.

human personality

behavior

ethics

human rights

8.

Multiple Choice

45 sec

1 pt

Whistle-blowing means ________.

a guide to acceptable and ethical behavior as defined by the organization

informing the press or government about unethical practices within the organization

a group of people who appointed to share the information about unethical activities to the public for awareness purpose

an activities to investigate the unethical practice reported in an organization

9.

Multiple Choice

45 sec

1 pt

Syafiq bought a product that has no labels on it’s packaging. This situation has breach one of basic consumer rights, which is ______.

right to safety

right to be informed

right to choose

right to be heard

10.

Multiple Choice

45 sec

1 pt

The ability to produce a specific product more efficiently than any other nation is called _________.

absolute advantage

comparative advantage

competitive advantage

marketing advantage

11.

Multiple Choice

45 sec

1 pt

Embargo is _______.

tax levied on a particular foreign product entering a country

complete halt to trading with a particular nation or in a particular product

tax exemption for the product that exported to other country

limited numbers of product allowed to enter the national market

12.

Multiple Choice

45 sec

1 pt

What is meant by ‘GDP’?

gross domestic product

good distribution practice

global detection probability

global data pool

13.

Multiple Choice

45 sec

1 pt

The movement of goods and services without political or economic encumbrance is called __________.

free trade

external trade

import trade

barter trade

14.

Multiple Choice

45 sec

1 pt

There are some reasons for trade restriction, EXCEPT:

to protect new or weak industries

restriction of consumer’s choices

to protect domestic jobs

to protect national security

15.

Multiple Choice

45 sec

1 pt

The purpose of General Agreement on Tariffs and Trade (GATT) is ______.

to reduce or eliminate tariffs and other barriers to world trade

to reduce numbers of migrants in the ASEAN country

to increase numbers expertise and skillful worker globally

to reduce poverty levels among the ASEAN country

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