#1
Which of the following is NOT a factor of production?
Labor
Land
Capital
Consumer demand
#2
What is the main objective of monetary policy?
To control inflation
To regulate government spending
To promote economic growth
To regulate international trade
#3
What is the primary goal of supply chain management?
To increase production costs
To decrease customer satisfaction
To optimize the flow of goods and services
To reduce supplier relationships
#4
Which of the following is NOT a characteristic of a perfectly competitive market?
Many buyers and sellers
Homogeneous products
Barriers to entry
Perfect information
#5
Which of the following is NOT a component of the SWOT analysis?
Strengths
Weaknesses
Opportunities
Trends
#6
What is the purpose of JIT (Just-In-Time) inventory management?
To reduce carrying costs
To increase inventory levels
To decrease production efficiency
To increase lead times
#7
What does the term 'economies of scale' refer to?
Increasing production costs as output increases
Decreasing production costs as output increases
Constant production costs regardless of output
Production costs unrelated to output
#8
What is the formula to calculate GDP (Gross Domestic Product)?
GDP = Consumption + Investment + Government Spending + (Exports - Imports)
GDP = Consumption + Investment + Government Spending + Exports + Imports
GDP = Consumption + Investment - Government Spending + (Exports - Imports)
GDP = Consumption - Investment + Government Spending + (Exports - Imports)
#9
Which economic indicator measures the average change in prices of a basket of goods and services over time?
Unemployment rate
Inflation rate
GDP growth rate
Interest rate
#10
What is the term used to describe the total market value of all final goods and services produced within a country in a given period of time?
Gross National Product (GNP)
Gross Domestic Product (GDP)
Net National Product (NNP)
Net Domestic Product (NDP)
#11
Which economic theory suggests that governments should not intervene in the market and that it will naturally find equilibrium?
Keynesian economics
Monetarism
Classical economics
Austrian economics
#12
What is the primary objective of fiscal policy?
To control money supply
To regulate interest rates
To influence aggregate demand and stabilize the economy
To control government spending
#13
Which of the following is a characteristic of monopolistic competition?
Many buyers and sellers
Homogeneous products
Barriers to entry
Product differentiation
#14
According to the law of diminishing returns, what happens when additional units of a variable input are added to fixed inputs?
Total output increases at an increasing rate
Total output increases at a decreasing rate
Total output remains constant
Total output decreases
#15
Which economic theory suggests that individuals act in their own self-interest and markets tend to reach equilibrium without government intervention?
Keynesian economics
Monetarism
Classical economics
Behavioral economics