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Question-1
VAT is:
(A)
Indirect tax
(B)
Direct tax
(C)
Corporate tax
(D)
Profit tax
Question-2
The policy used by Government to improve the efficient supply of goods and service in a country.
(A)
Monetary policy
(B)
Supply side policy
(C)
Fiscal policy
(D)
Exchange rate
Question-3
Selling of illegal goods is dealt in:
(A)
Consumer Credit Act
(B)
Weight and Measures Act
(C)
Trade Description Act
(D)
Sale of Goods Act
Question-4
The tax on the profits made by business is:
(A)
Corporate tax
(B)
Disposable income
(C)
Direct tax
(D)
Indirect tax
Question-5
Unemployment leads to:
(A)
Low out put
(B)
High rate of GDP
(C)
Increase in real income
(D)
Low rate of price of commodities
Question-6
One firm controls or dominates the market for goods or services. This situation is referred to as:
(A)
Monopoly
(B)
Oligopoly
(C)
Duopoly
(D)
Free market
Question-7
GDP is:
(A)
Gross Domestic Product
(B)
Gradual Decreased Product
(C)
Gross Domicile Product
(D)
General Distribution Power
Question-8
The value of goods and services produced in a country in one year is called:
(A)
GDP
(B)
Inflation
(C)
Unemployment
(D)
Real income
Question-9
Weight and Measures Act was passed in the year:
(A)
1949
(B)
1950
(C)
1951
(D)
1952
Question-10
When price rising rapidly, it will give a chance to:
(A)
Unemployment
(B)
Economic growth
(C)
Inflation
(D)
Deflation
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Cambridge Advanced Grade 12
IGCSE
Practice in Related Chapters
Purpose of Business Activity
Types of Business Activity
Other External Influences on Business
Forms of Business Organisation
Financing Business Activity
Enterprise
Business Structure
Size of Business
Business Objectives
Recruitment, Training and Human Resources
External Economic Influences on Business Behaviour
Stakeholders in a Business
Organisational Structure
Government and Economic Influences on Business
Managing a Business
Communication in Business
Motivation at Work
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