Business and Technology MCQ Quiz in தமிழ் - Objective Question with Answer for Business and Technology - இலவச PDF ஐப் பதிவிறக்கவும்
Last updated on Apr 16, 2025
Latest Business and Technology MCQ Objective Questions
Top Business and Technology MCQ Objective Questions
Business and Technology Question 1:
What is an inferior good?
Answer (Detailed Solution Below)
Business and Technology Question 1 Detailed Solution
Correct Answer: C
Explanation:
The term ‘inferior good’ is a technical term in economics. An example of such a good might be small ‘starter’ homes
Business and Technology Question 2:
According to the theory of the firm, which of the following statements describes an oligopoly?
Answer (Detailed Solution Below)
There are four producers exerting considerable influence in the market
Business and Technology Question 2 Detailed Solution
Explanation:
The first option is one of the conditions for a perfect market, the second is a monopoly and the fourth is monopolistic competition
Business and Technology Question 3:
Which of the following would lead to a fall in the price of good Q which is a normal good?
Answer (Detailed Solution Below)
A fall in the level of household incomes generally
Business and Technology Question 3 Detailed Solution
Explanation:
Generally, if incomes fall, demand will fall
Business and Technology Question 4:
Which of the following would cause the supply curve for a good to shift to the right (outwards from the origin)?
Answer (Detailed Solution Below)
A fall in production costs of the good
Business and Technology Question 4 Detailed Solution
Explanation:
The other options relate to movements along the supply curve
Business and Technology Question 5:
A legal minimum price is set which is below the equilibrium price.
What will be the impact of this?
Answer (Detailed Solution Below)
Business and Technology Question 5 Detailed Solution
Explanation:
A minimum price (floor price) only leads to excess supply if it is set higher than the equilibrium price.
Business and Technology Question 6:
Which of the following is an example of cyclical unemployment?
Answer (Detailed Solution Below)
Business and Technology Question 6 Detailed Solution
Correct Answer: D
Explanation:
Recession is part of the business cycle: demand for output and jobs falls, and unemployment rises until recovery is well under way. The first option is an example of frictional unemployment; the second option is seasonal unemployment; the third option is technological unemployment
Business and Technology Question 7:
If a government has a macro-economic policy objective of expanding the overall level of economic activity, which of the following would NOT be consistent with such an objective?
Answer (Detailed Solution Below)
Business and Technology Question 7 Detailed Solution
Explanation:
Increasing taxation lowers demand in the economy because people have less of their own money after tax for consumption or saving/investment. Increasing public expenditure should increase the level of consumer demand. Decreasing taxation has the opposite effect. Lowering interest rates should stimulate investment (by companies) and consumer expenditure, even if only after a time lag
Business and Technology Question 8:
Which of the following is NOT a legitimate method of influencing government policy in the interests of a business?
Answer (Detailed Solution Below)
Offering financial incentives to public officials to use their influence on the organisation’s behalf
Business and Technology Question 8 Detailed Solution
Explanation:
This would be interpreted as corruption. The other options are usually legitimate methods of influence. Although giving lawmakers non-executive directorships may be questionable in some parts of the world, in others like the UK it is perfectly legitimate
Business and Technology Question 9:
Which characteristic of big data relates to the ability to stream data in real-time?
Answer (Detailed Solution Below)
Business and Technology Question 9 Detailed Solution
Correct Answer: D
Explanation:
Velocity concerns the speed of data and is therefore connected to the ability to stream large amounts of data into an organisation’s systems in real time. If velocity was not quick enough, the data would be subject to a time-lag which might undermine its usefulness.
Business and Technology Question 10:
Which of the following is NOT a category in Maslow’s hierarchy of needs theory?
Answer (Detailed Solution Below)
Need for affiliation
Business and Technology Question 10 Detailed Solution
Explanation:
Affiliation is actually a category in another need model by David McClelland. The other options are Maslow’s (although freedom of inquiry and expression overarches the hierarchy itself).