Welcome to your International Navodaya Chamber of Commerce (INCOC) Platform ! Subject: Fundamentals of Business Economics and ManagementTotal Number of Question: 40Time: 41 MinutesPlease check your email after completion of test for result.All the best... Name Phone No Email State 1. The slope of the demand curve under perfect competition is typically: Downward sloping Upward sloping Horizontal Vertical None 2. What type of good has an increase in demand as income increases? Inferior goods Giffen goods Normal goods Public goods None 3. An indifference curve represents: Combinations of goods providing the same satisfaction Consumer preferences between goods Elasticity of demand Total utility of a single good None 4. The marginal utility theory is based on the assumption of: Diminishing marginal utility Increasing marginal utility Constant marginal utility Negative marginal utility None 5. A monopolist can influence: Price only Both price and quantity Neither price nor quantity None 6. National income is measured by the: Income method Expenditure method Production method All of the above None 7. Inflation caused by an increase in aggregate demand is called: Cost-push inflation Demand-pull inflation Hyperinflation Stagflation None 8. Which of the following is NOT included in GDP? Final goods and services Intermediate goods Net exports Government spending None 9. Fiscal policy refers to: Central bank control over money supply Government expenditure and taxation policies Interest rate determination Regulation of financial markets None 10. The Keynesian theory emphasizes the role of: Savings Government intervention Supply-side economics Free market principles None 11. Organizing as a function of management involves: Setting goals Delegating authority Monitoring performance Allocating financial resources None 12. Unity of direction implies: One boss for one employee One plan for one group of activities Employees working on multiple tasks Centralized decision-making None 13. Henry Fayol’s principle of “Esprit de corps” relates to: Discipline Team spirit Authority Division of work None 14. Scientific management primarily focuses on: Human relations Maximizing output with efficient methods Conflict resolution Ethical considerations None 15. The purpose of strategic planning is to: Handle day-to-day operations Develop long-term goals Train employees Implement quick fixes None 16. Which leadership style involves full control and no input from subordinates? Democratic Autocratic Transformational Delegative None 17. What is the focus of Theory Y management? Employees dislike work and need strict supervision Employees are motivated by rewards and goals Employees are self-motivated and seek responsibility Employees need constant incentives None 18. Conflict in an organization can: Always harm productivity lways improve relationships Lead to innovative solutions Be ignored without consequence None 19. In Herzberg’s Two-Factor Theory, hygiene factors include: Recognition Salary Achievement Responsibility None 20. Which is NOT a stage in team development? Forming Storming Performing Hesitating None 21. Formal communication channels include: Office memos Gossip Informal discussions Personal chats None 22. Which is NOT a type of non-verbal communication? Gestures Facial expressions Email Posture None 23. The primary objective of communication is to: Send information Establish relationships Achieve understanding Create documentation None 24. Which of the following is an example of horizontal communication? Employee to manager Manager to team Employee to another employee at the same level Manager to customer None 25. Listening is considered: A passive activity A skill requiring effort Irrelevant in communication A leadership role only None 26. A public good is: Non-rival and non-excludable Rival and non-excludable Non-rival and excludable Rival and excludable None 27. In marginal costing, fixed costs are: Treated as product costs Treated as period costs Ignored Always variable None 28. Product differentiation is a feature of: Perfect competition Monopoly Monopolistic competition Oligopoly None 29. Decision-making involves: a Avoiding conflicts Selecting the best course of action Following routines Minimizing teamwork None 30. Inflation reduces: Purchasing power Supply Employment Demand for luxury goods None 31. Which of the following is an assumption of the law of supply? No change in production technology Change in income levels Changes in consumer preferences Price fluctuations in substitute goods None 32. Which type of elasticity measures the responsiveness of demand to changes in price? Price elasticity of demand Income elasticity of demand Cross elasticity of demand Supply elasticity None 33. The term "Market Equilibrium" refers to: Demand exceeds supply Supply exceeds demand Demand equals supply Prices are fluctuating None 34. The Cobb-Douglas production function is used to analyze the relationship between: Inputs and output Costs and profits Demand and supply Fixed and variable costs None 35. Which of the following is an example of an economic good? Air Water in the ocean A car Sunlight None 36. Which function of management ensures that organizational goals are achieved efficiently? Planning Directing Organizing Controlling None 37. Delegation of authority means: Transferring accountability Transferring decision-making power Eliminating responsibility Reducing organizational structure None 38. Which of the following is NOT a function of management? Planning Staffing Marketing Organizing None 39. The term "job rotation" refers to: Assigning multiple jobs to one person Periodically changing job assignments to increase skills Reducing work hours Eliminating repetitive tasks None 40. The grapevine in an organization refers to: Formal communication Informal communication Vertical communication Downward communication None 1 out of 4 Great job on taking the INCOC Test! We appreciate your interest in test.Look out for results and future opportunities.Stay Connected !! Your quiz time is about to finish. Few seconds left. 1 2 3 4 Time's upYou cannot switch tabs while taking this quiz!You are not allowed to switch tabs violation has been recorded.you cannot minimize full screen mode!You are not allowed to minimize full screen while taking this quiz, violation has been recorded.Access denied! To begin the quiz, please grant this quiz access to your camera.Time is Up!Time is Up!
