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Business Quiz on Economics

Inflation, where price rise makes worker demand higher wages, which then again increases the prices is know as?
a) Deflation
b) Stagflation
c) Cost-Push Inflation
d) Continuous Inflation
Answer (Point your mouse over it)

"Bullion", which is refers to silver/gold or other metals in the form of?
a) Jewellery
b) Coins
c) Bars and coins.
d) Ingots or bars only

When there are two sellers for a product it is called "duopoly", when there are only two buyers for a particular market, what is the market situation called?
a) Duopoly
b) Oligopoly
c) Duopsony
d) Monopsony

Fiat Money is refers to?
a) Call Money
b) Legal Money
c) Credit Money
d) International Money

When the consumer buy less of the goods when the prices falls, and buy more when rising, the situation is called as?
a) Giffen Paradox
b) Adam's Law
c) Marshal Law
d) Gershman Paradox

Abbreviation of Barrels?
a) Brl;
b) Bel;
c) Bbl;
d) Obl;

Unemployment caused due to the downturn in the business cycle is called as?
a) Cyclical Employment
b) Underemployment.
c) Temporary unemployment
d) Disguised unemployment

Which of these refers to "factoring services"?
a) Guaranteeing realization from debtors
b) Financing Working capital requirements
c) Venture capital financing.
d) Factory recruitment process.

Liquidity trap occurs when
a) The Interest rates are high,
b) Low rate of interest,
c) Very low rate of interest,
d) Very high rate of interest.

Central bank control the credit expansion in a certain persuasion employed method, the term is called as?
a) Active persuasion
b) Market Intervention
c) Moral suasion
d) Credit Intervention

Phenomena where the rise in income, will put the individuals into higher tax brackets, leaving them worse than in the lower disposable income level is called as?
a) Stagflation
b) Bracket creeps
c) Creeping inflation
d) Cosh-push inflation

Economic term used for savings on defense spending as a result of end of conflict or such?
a) Defense dividends,
b) White dividends,
c) Peace dividends
d) Good dividends.

The term used to describe the practice of self-sufficiency and import substitution idea is?
a) Autocracy
b) Bureaucratic
c) Mixed Economy
d) Autarky

The term used to describe the difference between total earnings and the basic pay?
a) Wage drift,
b) Take-home pay,
c) Package pay,
d) Pay-as-you go.

Temporary jobless because of reasons like spending time on job search, or break before starting a new jobs is called?
a) Frictional unemployment
b) Voluntary unemployment
c) Seasonal unemployment
d) Willing unemployment
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