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 purpose of a control system in management is to: Allocate resources Ensure goals are being achieved Create marketing strategies Hire and train new employees None 2. Which of the following is a type of control in management? Financial control Job design Customer service Ethical training None 3. Which of the following is NOT a method of controlling performance? Setting performance standards Measuring actual performance Taking corrective actions Delegating authority None 4. The "Theory X" management style assumes that employees: Are motivated by intrinsic factors Prefer to work and seek responsibility Avoid work and need close supervision Are highly creative and innovative None 5. Which of the following is an intrinsic motivator for employees? Salary bonuses Job satisfaction Promotions Recognition None 6. The law of diminishing returns states that as more of a variable input is added to a fixed input, the marginal product will eventually: Increase continuously Remain constant Decrease after a certain point Stay the same None 7. If a firm's total cost increases as output increases, it is experiencing: Economies of scale Diseconomies of scale Constant returns to scale Increasing marginal returns None 8. In perfect competition, firms are: Price setters Price takers Limited in number Free to engage in price discrimination None 9. Which of the following is true for monopolies? They produce homogeneous products They have high barriers to entry There is perfect information available to all firms There are many firms in the market None 10. Which of the following is a characteristic of oligopoly? No barriers to entry A large number of firms Product differentiation is minimal Firms compete on price and non-price factors None 11. Corporate social responsibility (CSR) refers to: Government regulations on business activities Business practices that prioritize ethical considerations Maximizing profit at all costs Business's responsibility to pay taxes None 12. Which of the following is NOT a factor of CSR? Environmental sustainability Profit maximization Ethical business practices Community engagement None 13. Which of the following is an example of business ethics? A firm focusing only on shareholder profits A firm being transparent about product safety A firm reducing costs by lowering wages below the market rate A firm engaging in fraudulent advertising None 14. The triple bottom line approach to CSR evaluates a company based on: Profit, people, and planet Profit, power, and prestige Products, prices, and promotion Profit, process, and policies None 15. Ethical decision-making in business requires consideration of: Short-term profitability only Social and environmental consequences Stockholder interests Regulatory compliance alone None 16. Which of the following is a direct impact of inflation on businesses? Decrease in consumer spending Increase in the real value of debt Rising wages without increased productivity Decreased production costs None 17. What is the role of price elasticity in business decision-making? To determine the maximum price a product can reach To measure the responsiveness of quantity demanded to price changes To set the optimal price for a product To ensure competitive pricing None 18. The aggregate demand curve slopes downward because: Higher prices increase demand Lower prices reduce demand Higher prices reduce the purchasing power of money The government controls demand None 19. Monetary policy is primarily concerned with: Government taxation Government spending Controlling the money supply and interest rates Regulation of private enterprises None 20. The GDP deflator is used to measure: Total government expenditure The rate of inflation The level of employment The total national income None 21. Which of the following is a key objective of financial management? Maximizing revenue Maximizing profit Maximizing shareholder wealth Minimizing costs None 22. The Net Present Value (NPV) method of investment appraisal considers: Only the initial investment cost Only the future cash inflows The time value of money and all future cash flows The payback period of the project None 23. Which of the following is an example of a source of short-term finance? Issuing new shares Long-term bonds Bank overdraft Retained earnings None 24. The risk-return trade-off implies that: Higher risk always leads to higher returns Lower risk leads to higher returns Investors must balance risk with potential returns Risk and return are unrelated None 25. The formula for calculating Return on Investment (ROI) is: Profit / Revenue Profit / Investment Revenue / Cost . Profit / Total assets None 26. Which of the following is a key element of the marketing mix? Promotion Profit Performance Promotion None 27. Consumer behavior is best described as: The study of how consumers make purchasing decisions The study of how products are distributed The financial transactions made by consumers The legal aspects of consumer rights None 28. The "4 Ps" in marketing refers to: Price, Product, People, Promotion Product, Price, Place, Promotion People, Process, Performance, Price Promotion, Process, Product, People None 29. Which of the following is an example of market segmentation? Targeting all consumers equally Dividing the market based on income level Pricing products equally for all regions Offering a generic product to everyone None 30. The consumer decision-making process typically begins with: Purchase Evaluation of alternatives Need recognition Information search None 31. Which of the following is an example of a barrier to international trade? Lower tariffs Exchange rate fluctuations Free trade agreements Market access for foreign firms None 32. The balance of payments includes all of the following EXCEPT: Current account Capital account Financial account GDP growth rate None 33. Which of the following is a common reason for a country to impose trade tariffs? To encourage competition To protect domestic industries To increase the flow of foreign investments To promote free trade None 34. The World Trade Organization (WTO) primarily focuses on: Regulating foreign exchange markets Promoting global peace Promoting free trade by regulating tariffs and trade barriers Setting the global interest rate None 35. In international trade, comparative advantage refers to: The ability of a country to produce all goods more efficiently than others The ability to produce a good at a lower opportunity cost than another country The ability to produce a good with more resources The ability of a country to export more than it imports None 36. Which of the following is an essential trait of an entrepreneur? Ability to follow strict rules Risk-taking ability and innovation Dependence on government funding Focus on stability None 37. Technological innovation in business often leads to: Reduced competition Increased labor costs Increased operational efficiency and new product creation Decreased product quality None 38. The process of turning new ideas into successful products or services is called: Strategic planning Innovation management Market research Product differentiation None 39. Which of the following is NOT a typical source of funding for a startup business? Bank loans Venture capital Crowdfunding Government subsidies None 40. A business plan typically includes all of the following EXCEPT: Executive summary Financial projections Competitor analysis Personal life history of the entrepreneur 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! 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