Quiz
ECONOMY
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Questions in this quiz (163)
1There are _______elements of economic system
- A2
- B3
- C4
2Common ownership is belonged to
- ANatural economy
- BPlanned economy
- CTraditional economy
- D1 and 4 answers are right
3Private ownership is belonged to
- ANatural economy
- BMarket economy
- CPlanned economy
- DTraditional economy
4Public ownership is belonged to
- ANatural economy
- BMarket economy
- CPlanned economy
- DTraditional economy
5To satisfy primary needs of ownership is belonged to
- ANatural economy
- BMarket economy
- CPlanned economy
- DTraditional economy
6To gain profit is belonged to
- ANatural economy
- BMarket economy
- CPlanned economy
- DTraditional economy
7To satisfy all needs of society’s ownership is belonged to
- ANatural economy
- BMarket economy
- CPlanned economy
- DTraditional economy
8Barter as a Mechanism of exchange is belonged to
- ANatural economy
- BMarket economy
- CPlanned economy
- DTraditional economy
9System of markets as a Mechanism of exchange is belonged to
- ANatural economy
- BMarket economy
- CPlanned economy
- DTraditional economy
10Centralized planning as a Mechanism of exchange is belonged to
- ANatural economy
- BMarket economy
- CPlanned economy
- DTraditional economy
11Any physical or intangible entity that is owned by a person or jointly by a group of persons is
- AProperty
- BPrivate property
- CPublic property
- DCommon property
12Purpose of property is to:
- ASell
- BRent
- CMortgage
- DAll are right
13The hunter-gatherer stage is
- APrimitive
- BSlavery
- CLand-duty
- DSocialist
14A form of forced labour in which people are considered to be the property of others is
- ASlavery
- BLand-duty
- CCapitalist
- DSocialist
15A decentralized sociopolitical structure in which a weak monarchy attempts to control the lands is
- ASlavery
- BLand-duty
- CCapitalist
- DSocialist
16An economic and social system in which capital, the non-labor factors of production is privately owned is
- ASlavery
- BLand-duty
- CCapitalist
- DSocialist
17A society characterized by equal access to resources for all individuals with a method of compensation based on the amount of labor is
- ASlavery
- BLand-duty
- CCapitalist
- DSocialist
18Fixed Capital is:
- AEquipment and machinery
- BCurrent Assets - Current Liabilities
- CInventory
- DMoney
19Working capital is not:
- AEquipment and machinery
- BCurrent Assets - Current Liabilities
- CInventory
- DMoney
20“Wealth is a value created in production due to labor and non labor income” is belonged to:
- ASmith
- BRicardo
- CMarginalism
- DNeoclassical economy
21Definition of Value which can bring additional value – Surplus value is belonged to :
- ASmith
- BMarx
- CMarginalism
- DNeoclassical economy
22Definition “ Capital reflects economic relations between employers and emploees-exploatation” is belonged to:
- ASmith
- BMarx
- CMarginalism
- DNeoclassical economy
23Definition “Capital as an abstract production force as a source of interest and income” is belonged to:
- ASmith
- BNowadays economists
- CMarginalism
- DNeoclassical economy
24Definition “Capital is a recourse of long term usage with the purpose of production a big number of goods and services” is belonged to:
- ASmith
- BThe U.S. economists
- CMarginalism
- DNeoclassical economy
25Assets or capital investments that are needed to start up and conduct business, even at a minimal stage are:
- AIntangible capital
- BFixed capital
- CWorking capital
- DHuman capital
26A measure of both a company's efficiency and its short-term financial health is:
- AIntangible capital
- BFixed capital
- CWorking capital
- DHuman capital
27Current Assets - Current Liabilities is
- ACIntangible capital
- BFixed capital
- CWorking capital
- DHuman capital
28An accounting methodology which allows an organization to spread the cost of a fixed asset over the expected useful life of that asset is
- ADepreciation
- BIncome
- CNet income
- DGross income
29Expense is calculated utilizing either a straight line depreciation method or an accelerated depreciation method is:
- ADepreciation
- BAmortization
- CNet income
- DGross income
30The straight line _______ method divides the cost by the life is:
- ADepreciation
- BAmortization
- CNet income
- DGross income
31SL = Cost / Life is:
- ADepreciation
- BIncome
- CNet income
- DGross income
32A medium of exchange is a function of:
- AMoney
- BFinance
- CIncome
- DNet income
33The aim of economic integration is to reduce_____ for both consumers and producers is
- ACosts
- BIncome
- CExpences
- DNet income
34International Economic Integration is for the elimination of:
- Atariff barriers
- Bnontariff barriers
- Cthe flow of factors of production
- D1 and 2 are right
35The economic rationale for the increase of trade between member states of economic unions is
- AObjective
- BSubject
- CPurpose
- DMethod of International Economic Integration
36There are ______Stages of International Economic Integration:
- A5
- B2
- C3
- D4
37The 1st stage of International Economic Integration is
- APreferential trading area
- BFree trade area
- CCustoms union
- DCommon market
38The 2nd stage of International Economic Integration is
- APreferential trading area
- BFree trade area
- CCustoms union
- DCommon market
39The 3d stage of International Economic Integration is
- APreferential trading area
- BFree trade area
- CCustoms union
- DCommon market
40The 4th stage of International Economic Integration is
- APreferential trading area
- BFree trade area
- CCustoms union
- DCommon market
41The 5th stage of International Economic Integration is
- APreferential trading area
- BFree trade area
- CCustoms union
- DEconomic union
42A trading block that gives preferential access to certain products from the participating countries is
- APreferential trading area
- BFree trade area
- CCommon market
- DEconomic union
43The region encompassing a trade bloc whose member countries have signed:
- APreferential trading area
- BFree trade area
- CCustoms union
- DEconomic union
44A political structure entered into between countries to establish a free trade market for member and create a common trade policy for nonmember countries is:
- APreferential trading area
- BFree trade area
- CCommon market
- DEconomic union
45Union which requires the coordination of various social, fiscal and monetary policies among participating nations is:
- APreferential trading area
- BFree trade area
- CCommon market
- DEconomic union
46The effect of markedly increasing not only international trade, but also cultural exchange is:
- AGlobalization
- BEconomic integration
- CInternationalization
- DInternational economics
47A way that it will meet the needs of users in many countries or can be easily adapted to do so is:
- AGlobalization
- BEconomic integration
- CInternationalization
- DInternational economics
48Laissez-faire in economics is belonged to:
- ASmith
- BThe U.S. economists
- CMarginalism
- DNeoclassical economy
49An economic system in which transactions between private parties are free from government interference such as regulations is:
- AA nature of market economy
- BA nature of traditional economy
- CA nature of natural economy
- DAll above are true
50___________rests on the following axiom: The individual is the basic unit in society.
- Alaissez-faire
- Bscarcity of resources
- Cinvisible hand
- Dscarcity
51The individual has a natural right to freedom is belonged to :
- Alaissez-faire
- Bscarcity of resources
- Cinvisible hand
- Dscarcity
52The physical order of nature is a harmonious and self-regulating system:
- Alaissez-faire
- Bscarcity of resources
- Cinvisible hand
- Dscarcity
53Why Government participation?
- AMarket failures
- BMarket systems
- CPublic property
- DCapitalism
54Imperfect Information is type of:
- AMarket failures
- BMarket systems
- CPublic property
- DCapitalism
55Natural Monopoly is type of:
- AMarket failures
- BMarket systems
- CPublic property
- DCapitalism
56Public Good is type of:
- AMarket failures
- BMarket systems
- CPublic property
- DCapitalism
57Externality is type of:
- AMarket failures
- BMarket systems
- CPublic property
- DCapitalism
58A situation in which the allocation of goods and services is not efficient is :
- AMarket failures
- BMarket systems
- CPublic property
- DCapitalism
59A situation where free markets fail to allocate resources efficiently is:
- AMarket failures
- BMarket systems
- CPublic property
- DCapitalism
60When property rights are involved, parties naturally gravitate toward the most efficient and mutually beneficial outcome is
- ACoase theorem
- BSmith theorem
- CNeoclassical theorem
- DClassical theorem
61There are ______basic strategies to reduce or eliminate market failures.
- ATwo
- BThree
- CFive
- DSix
62To implement policies that change the behavior of consumers and producers by using the price mechanism is
- AThe first strategy
- BThe second strategy
- CThe third strategy
- DThe fourth strategy
63To implement policies that change the behavior of consumers and producers by using the force of the law to change behavior is:
- AThe first strategy
- BThe second strategy
- CThe third strategy
- DThe fourth strategy
64Banning cars from city centers is
- AThe first strategy
- BThe second strategy
- CThe third strategy
- DThe fifth strategy to implement policies that change the behavior of consumers and producers
65Increasing the price of ‘harmful’ products, through taxation, and providing subsidies for the ‘beneficial’ products is
- AThe first strategy
- BThe second strategy
- CThe third strategy
- DThe fifth strategy to implement policies that change the behavior of consumers and producers
66Consumers and producers may fail to take into account the effects of their actions on third-parties is:
- ANegative externalities
- BProperty rights
- CInformation failure
- DUnstInequality
67Markets may also fail to limit the size of the gap between income earners, the so-called income gap is:
- ANegative externalities
- BProperty rights
- CUnstable markets
- DInequality
68Sometimes markets become highly unstable, and a stable equilibrium may not be established gap is
- ANegative externalities
- BProperty rights
- CUnstable markets
- DInequality
69Markets may not provide enough information because, during a market transaction, it may not be in the interests of one party to provide full information to the other party is:
- ANegative externalities
- BProperty rights
- CInformation failure
- DInequality
70Markets work most effectively when consumers and producers are granted the right to own property, but in many cases property rights cannot easily be allocated to certain resources is:
- ANegative externalities
- BProperty rights
- CInformation failure
- DInequality
71Maslow's hierarchy of needs, represented as a pyramid with the more ____needs at the bottom
- ABasic
- BInitial
- CPrimary
- DBases
72Safety and Security needs do not include:
- APersonal security
- BFinancial security
- CSafety net against accidents/illness and their adverse impacts
- DSelf actualization
73Physiological needs do not include
- APersonal security
- BFood
- CDwelling
- DSleep
74Self actualization needs include:
- ACreativity
- BFood
- CDwelling
- DSleep
75Love and belongingness needs include:
- AFriendship
- BFood
- CDwelling
- DSleep
76Self esteem and self-respect needs include:
- AAccepted and valued by others
- BFood
- CDwelling
- DSleep
77The fundamental economic problem of having humans who have wants and needs in a world of limited resource is:
- AScarcity
- Blaissez-faire
- Cscarcity of resources
- Dinvisible hand
78"The science which studies human behavior as a relationship between ends and scarce means which have alternative uses" is said by:
- ALionel Robbins
- BCoase
- CSmith
- DRicardo
79A branch of economics that deals with the performance, structure, and behavior of a national or regional economy as a whole is:
- AMacroeconomics
- BMicroeconomics
- CMezoeconomics
- DEconomics
80A basic measure of a country's economic performance is:
- AThe gross domestic product (GDP)
- BGross national product
- CNational product
- DOutput
81The behavior and decision-making of entire economies is studied by:
- AMacroeconomics
- BMicroeconomics
- CMezoeconomics
- DInternational economics
82Aggregated indicators such as GDP , unemployment rates, and price indices to understand how the whole economy functions are studied by:
- AMacroeconomics
- BMicroeconomics
- CMezoeconomics
- DEconomics
83GDP structure in Kazakhstan consists of:
- ATwo
- BThree
- CFour
- DSix sectors
84Sector of good production in Kazakhstan consists of:
- A4
- B2
- C3
- D6 branches
85Sector of services production in Kazakhstan consists of:
- A8
- B2
- C3
- D5 branches
86International economics consists of:
- ATwo
- BThree
- CFour
- DFive
87International trade is a part of:
- AInternational economics
- BMicroeconomics
- CMezoeconomics
- DMacroeconomics
88International finance is a part of:
- AInternational economics
- BMicroeconomics
- CMezoeconomics
- DMacroeconomics
89The exchange of goods and services between countries is:
- AInternational trade
- BMicroeconomics
- CMezoeconomics
- DMacroeconomics
90A function of international trade whereby goods produced in one country are shipped to another country for future sale or trade is:
- AExports
- BImports
- CTrade
- DInternational trade
91One of the oldest forms of economic transfer is:
- AExports
- BImports
- CTrade
- DInternational trade
92A good or service brought into one country from another is:
- AExports
- BImports
- CTrade
- DInternational trade
93Along with exports, ____ form the backbone of international trade:
- AExports
- BImports
- CTrade
- DInternational trade
94The higher the value of ____ entering a country, compared to the value of exports, the more negative that country's balance of trade becomes:
- AExports
- BImports
- CTrade
- DInternational trade
95FTT= X+M is:
- AForeign trade turnover
- BExports
- CImports
- DForeign trade
96X-M is:
- AForeign trade turnover
- BExports
- CImports
- DTrade surplus
97The sale of such goods adds to the producing nation's gross output is:
- AExports
- BImports
- CTrade
- DMicroeconomics
98_______occur on a large scale between nations that have fewer restrictions on trade, such as tariffs or subsidies.
- AExports
- BImports
- CTrade
- DMicroeconomics
99Economics is:
- AThe social science
- BThe natural science
- CThe technical science
- DThe humanitarian science
100Methodology of study of economics does not involve:
- ASubject
- BObject
- CObjectives
- DGain
101Levels of economic system do not include:
- AInternational economics
- BMicroeconomics
- CMacroeconomics
- DEconomics
102____________looks at interactions through individual markets, given scarcity and government regulation.
- AInternational economics
- BMicroeconomics
- CMacroeconomics
- DEconomics
103__________looks at interactions through companies of one industry.
- AInternational economics
- BMezoeconomics
- CMacroeconomics
- DEconomics
104______________examines the economy as a whole to explain broad aggregates and their interactions "top down," that is, using a simplified form of general-equilibrium theory.
- AInternational economics
- BMezoeconomics
- CMacroeconomics
- DEconomics
105__________studies determinants of goods-and-services flows across:
- AInternational trade
- BMicroeconomics
- CMacroeconomics
- DEconomics
106Economic relations between agents of economic system is:
- ASubject
- BObject
- CObjectives
- DMethods
107Economic system does not involve:
- AHouseholds
- BGovernment
- CForeign participants
- DEntrepreneurship
108Economics is the social science that does not study:
- Aproduction
- Bconsumption of goods
- Cconsumption of services
- Dservices
109The term economics derives from the __________ oikonomia.
- AAncient Greek
- BAncient Rome
- CRussian
- DRome
110To explain how economies work and how economic agents interact is:
- AAim
- BSubject
- CPurpose
- DObjectives of Economics
111_______is applied throughout society, in business, finance and government.
- AEconomic analysis
- BEconomics
- CEconomic methods
- DMethods
112R-TC is a scheme of:
- AProfit
- BRevenue
- CIncome
- DNet income
113TP*p is:
- AProfit
- BRevenue
- CIncome
- DNet income
114Value of goods and services produced within borders of national country is
- AGDP
- BGNP
- CNP
- DProduct
115Formula of revenue is:
- ATC/TP
- BR-TC
- CTP*p
- DAFC/TP
116Credit means:
- ATrust
- BBelief
- CValue
- DMoney
117Process of transformation of input into output is:
- ATechnology
- BFactors of production
- CProduction
- DExchange
118Benefit of land is:
- AWage
- BIncome
- CDividend
- DRent
119There are ___ types of product:
- A2;
- B4;
- C3;
- D5;
120Benefit of labor is:
- AWage
- BIncome
- CInterest
- DDividend
121Benefit of capital is:
- AWage
- BIncome
- CInterest
- DDividend
122Benefit of entrepreneurship is:
- AWage
- BNormal profit
- CInterest
- DDividend
123The 5th factor of production is:
- ALand
- BLabor
- CEntrepreneurship
- DInformation
124Ability generate a new ideas is belonged to:
- ALabor forces
- BEntrepreneurs
- CEmployees
- DCapitalists
125C+I+G+(X-M) is formula of:
- AGNP
- BNP
- CGDP
- DGDP growth
126C+I+G+(X-M) is formula of
- AValue added method
- BThe expenditure method
- CThe income method
- DThe spending method
127Value of goods+ Value of services is:
- AValue added method
- BThe expenditure method
- CThe income method
- DThe spending method
128Total National Income+Sales Taxes+Depreciation+Net Foreign Factor Income is:
- AValue added method
- BThe expenditure method
- CThe income method
- DThe spending method
129The basic economic problem, the gap between limited – that is, scarce – resources and theoretically limitless wants is:
- APrinciple of economics
- BRule of economics
- CTheory of economics
- DTheorem of economics
130The gap between limited resources and theoretically limitless wants is:
- AChoice
- BScarcity
- CSelf-responsibility
- DRespect
- EResponsibility
131Necessity to choose one alternative is:
- AChoice
- BScarcity
- CSelf-responsibility
- DRespect
- EResponsibility
132All issues of choice is:
- AChoice
- BScarcity
- CSelf-responsibility
- DRespect
- EResponsibility
133The leading element of economic system is:
- ADistribution
- BExchange
- CProduction
- DConsumption
- ETrade
134GDP rate of 2016 equals _____if GDP2016= X and GDP 2015 =Y :
- AX/Y*100
- BY/X*100
- CX/Y
- DY/X
- EX+Y
135GDP per capita is_______, if GDP=A, population= P:
- AP/A
- BA/P
- CP/A*100
- DA/P*100
136FC+VC is:
- ATotal cost
- BAverage cost
- CMarginal cost
- DFixed average cost
137TC/TP is:
- ATotal cost
- BAverage cost
- CMarginal cost
- DFixed average cost
138 TC/ TP is:
- ATotal cost
- BAverage cost
- CMarginal cost
- DFixed average cost
139FAC/TP is:
- ATotal cost
- BAverage cost
- CMarginal cost
- DFixed average cost
140If TC=30, VC=20, then FC equals:
- A30
- B10
- C40
- D300
141If TC1=30, TC2=40, TP1=1, TP=2 then MC equals:
- A10
- B70
- C3,33
- D20,33
142If TC=30, TP=2, then AC equals:
- A60
- B15
- C0,7
- D32
143If FC=30, TP=4, then AFC is:
- A34
- B7,5
- C0,13
- D304
144Objective of national economy is not:
- AEconomic growth
- BEmployment
- CUnemployment
- DGrowth
- EMacroeconomic stability
145To satisfy all of needs and wants of population, government and business is:
- APurpose of national economy
- BPurpose of company
- CPurpose of industry
- DPurpose of exports
146FTT equals:
- AX+M
- BX-M
- CM-X
- DX*M
147NX equals:
- AX+M
- BX-M
- CM-X
- DX*M
148X=313 mln.KZT, M= 230 mln.KZT, then NX is:
- A83 mln.KZT
- B543 mln.KZT
- C71990 mln.KZT
- D1.36 mln.KZT
149X=313 mln.KZT, M= 230 mln.KZT, then FTT is:
- A83 mln.KZT
- B543 mln.KZT
- C71990 mln.KZT
- D1.36 mln.KZT
150Human capital flight is called:
- AOrganizational brain drain
- BGeografical brain drain
- CIndustrial brain drain
- DBrain drain
- EOrganizational brain gain
151The means by which a government adjusts its spending levels and tax rates to monitor and influence a nation's economy is:
- AFiscal policy
- BTaxation
- CRegulation
- DSocial regulation
152Before the Great Depression which lasted from Sept. 4, 1929, to the late 1930s or early 1940s, the government's approach to the economy :
- Alaissez-faire
- Bfree market
- Cgovernment participation
- Dgovernment participation in the market place
153Fiscal policy is based on the theories of:
- ABritish economist John Maynard Keynes
- BGerman scholar Karl Marx
- CScottish scholar Adam Smith
- DAustrian economist Schumpeter
154Instruments of Fiscal Policy are:
- Areceipts and expenses of the state budget
- Breceipts of the state budget
- Cexpenses of the state budget
- Dnon taxes payments
155Importance of the fiscal policy to the economy does not mean:
- AStabilization of the aggregate demand and supply and hence GDP.
- BStabilization of the price levels.
- CStabilization of employment
- DStabilization of the aggregate demand and hence GDP.
156Taxes on cigarettes and alcohol are:
- ARegressive
- BProgressive
- CDiminishing
- DDirect
157If the sum from 1000 to 5000 dollars are assessed with a tax in 5%, and the sum from 5000 to 10 000 dollars a tax in 4%, it is the example of:
- ARegressive
- BProportional
- CDiminishing
- DDirect
158Individual income tax in RK stands:
- A10%
- B11%
- C15%
- D20%
159Corporate income tax in RK stands:
- A10%
- B11%
- C15%
- D20%
160Market failures are not:
- AMonopoly
- BNatural monopoly
- CExternalities
- DPublic goods
161Economics is the study of:
- Aproduction technology
- Bconsumption decisions
- Chow society decides what, how, and for whom to produce
- Dthe best way to run society
- Etechnological system
162The term “factor markets” is used to describe markets for
- Alabor only.
- Ball inputs into the production process.
- Call factors determining supply and demand.
- Dfixed inputs only.
163The term “factor markets” is used to describe markets for:
- Alabor only.
- Ball inputs into the production process.
- Call factors determining supply and demand.
- Dfixed inputs only.
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- Quiz on ECONOMY, created by Nargiz Ser on 04/06/2017.
- Author
- Nargiz Ser
- Language
- English
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