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- Question
An increase in the price of a good will
Options- A. decrease demand
- B. increase quantity demanded
- C. increase demand
- D. decrease quantity demanded
- Correct Answer
- decrease quantity demanded
ExplanationIn economics we study that, if the price of a good increases the demand in its quantity decreases or the demand for its complimentary good increases.
For example, if the rice of a good increased by 5%, the demand in its quantity decreases by 10% approximately.
- 1. Quality assurance is an example of which process?
Options- A. Testing
- B. Manufacturing
- C. Delivering
- D. None of the above Discuss
- 2. Final goods and services refer to
Options- A. goods and services purchased by ultimate users, rather than for resale or further processing
- B. goods and services whose value has been adjusted for changes in the price level
- C. the excess of U.S. exports over U.S. imports
- D. goods and services that are unsold and therefore added to inventories Discuss
- 3. Regulatory policies protect consumers by
Options- A. controlling the supply of money
- B. providing public assistance programs
- C. overseeing and limiting businesses
- D. deciding how to tax and spend money Discuss
- 4. The term 'degrees of newness' is associated with
Options- A. total years of business experience
- B. degree of design change
- C. average length of time on the job
- D. average age of employees Discuss
- 5. Smoke alarms are only necessary in the workplace.
Options- A. TRUE
- B. FALSE Discuss
- 6. The purpose of safety stock is to
Options- A. eliminate the possibility of a stockout
- B. control the likelihood of a stockout due to the variability of demand during lead time
- C. replace failed units with good ones
- D. eliminate the likelihood of a stockout due to erroneous inventory tally Discuss
- 7. Fixed cost per unit increases when
Options- A. variable cost per unit decreases
- B. production volume decreases
- C. variable cost per unit increases
- D. production volume increases Discuss
- 8. Sales promotions include all of the following except
Options- A. Online Ads
- B. Coupons
- C. Free Samples
- D. Rebates Discuss
- 9. Equivalent units of production are equal to
Options- A. number of whole units that could have been completed if all work of the period had been used to produce whole units
- B. identifiable units existing at the end of the period in a production department
- C. units completed by a production department in the period
- D. number of units worked on during the period by a production department Discuss
- 10. Which of the following does not motivate entrepreneurs?
Options- A. Security
- B. Profit
- C. Freedom
- D. Innovation Discuss
Business Awareness problems
Search Results
Correct Answer: Testing
Explanation:
Quality assurance (QA) is a way of preventing mistakes and defects in manufactured products and avoiding problems when delivering solutions or services to customers.
Correct Answer: goods and services purchased by ultimate users, rather than for resale or further processing
Explanation:
Final goods and services refer to goods and services that have been purchased for final use and that cannot be resaled.
Correct Answer: overseeing and limiting businesses
Correct Answer: degree of design change
Explanation:
The term 'degrees of newness' is associated with degree of design change. How much the design changes that much newness comes in it.
Correct Answer: FALSE
Explanation:
Smoke alarms are also necessary in public places like banks, theaters, rest rooms, aeroplanes,...
Correct Answer: control the likelihood of a stockout due to the variability of demand during lead time
Explanation:
The purpose of safety stock is to control the likelihood of a stockout due to the variability of demand during lead time. Stockouts contribute to the direct loss of any type of business.
Correct Answer: production volume decreases
Explanation:
Fixed cost per unit increases when production volume decreases. The fixed cost per unit does not always remain the same. Fixed cost per unit increases when production volume decreases and vice versa.
Correct Answer: Online Ads
Explanation:
Sales promotion uses both media and non-media marketing communications for a pre-determined, limited time to increase consumer demand, stimulate market demand or improve product availability.
Sales promotions include Coupons, Rebates, Free Samples, etc... Online Ads come under advertising form.
Correct Answer: number of whole units that could have been completed if all work of the period had been used to produce whole units
Explanation:
Equivalent units of production are equal to number of whole units that could have been completed if all work of the period had been used to produce whole units.
Correct Answer: Security
Explanation:
Security in a business does not motivate entrepreneurs. An entrepreneurs primary motivation to start a business is to be independent.
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