Introduction to Business Tutorial 1

The study of the national economy and the global economy is called _______.

• microeconomic

• macroeconomic

• strategic company

• comprehensive economy

_________ is an economic system in which individuals own and operate the majority businesses that provide goods and services.

• capitalism

• socialism

• mix economy

• islamic economy

Listed below are the factors of production in business, EXCEPT:

• consumer

• capital

• entrepreneurship

• land and natural resources

The right to own land, to keep the majority of the profits, the right of freedom of competition and the right to freedom of choice are features of which economic system?

• socialism

• capitalism

• marxism

• communism

A market that has only one seller due to barrier created to avoid other firms from entering the market is called ______.

• perfect competition

• oligopoly

• monopoly

• monopolistic competition

“Imposed solely to generate income for the government”

The above statement refers to the ___________________.

• export tariff

• import tariff

• revenue tariff

• protective tariff

Principles that contains behavioural codes to determine what is right, what is wrong”

 

This statements defines ________.

• human personality

• behavior

• ethics

• human rights

Whistle-blowing means ________.

• a guide to acceptable and ethical behavior as defined by the organization

• informing the press or government about unethical practices within the organization

• a group of people who appointed to share the information about unethical activities to the public for awareness purpose

• an activities to investigate the unethical practice reported in an organization

Syafiq bought a product that has no labels on it’s packaging. This situation has breach one of basic consumer rights, which is ______.

• right to safety

• right to be informed

• right to choose

• right to be heard

The ability to produce a specific product more efficiently than any other nation is called _________.

• absolute advantage

• comparative advantage

• competitive advantage

• marketing advantage