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. Which factor does NOT affect the elasticity of demand? Aailability of substitutes Time period Cost of production Nature of the good None 2. When marginal cost is less than average cost: Average cost is rising Average cost is falling Average cost is constant Average cost is equal to marginal cost None 3. Under perfect competition, price is determined by: Buyers Sellers Market forces of demand and supply Government None 4. Which of the following represents a movement along the demand curve? Change in income Change in the price of the good Change in tastes and preferences Change in population None 5. In the short run, a firm can alter its: Fixed costs Variable costs Both fixed and variable costs Neither fixed nor variable costs None 6. What happens to the demand for complementary goods when the price of one good increases? Increases Decreases Remains constant Becomes elastic None 7. Which is an example of a fixed cost? Raw material costs Wages of temporary workers Rent of the factory building Electricity charges None 8. Which market structure features interdependence among firms? Perfect competition Monopoly Oligopoly Monopolistic competition None 9. Price discrimination is possible only under: Perfect competition Monopoly Monopolistic competition Oligopoly None 10. Which curve shows the different combinations of two goods that a consumer can purchase? Supply curve Demand curve Indifference curve Budget line None 11. Which is NOT a function of money? Medium of exchange Store of value Standard of deferred payment Measure of satisfaction None 12. The difference between Gross Domestic Product (GDP) and Net Domestic Product (NDP) is: Net exports Depreciation Indirect taxes Subsidies None 13. A balance of payments surplus means: Imports exceed exports Exports exceed imports Capital outflow exceeds inflow Expenditure exceeds revenue None 14. The primary objective of monetary policy is to: Promote economic growth Control inflation Regulate government spending Increase public debt None 15. Stagflation refers to: High inflation and low unemployment High inflation and high unemployment Low inflation and high economic growth Low inflation and high unemployment None 16. Which of the following does NOT contribute to economic growth? Investment in education Innovation Natural disasters Infrastructure development None 17. When the central bank increases the cash reserve ratio (CRR), it leads to: Increase in money supply Decrease in money supply No change in money supply Increase in public spending None 18. What is a fiscal deficit? Revenue exceeds expenditure Expenditure exceeds revenue Equal revenue and expenditure Government borrowing exceeds GDP None 19. The Human Development Index (HDI) measures: Economic growth Quality of life Inflation Balance of payments None 20. Which of the following is NOT a component of aggregate demand? Consumption Investment Government spending Net imports None 21. Which principle of management advocates that work should be divided into specialized tasks? Authority and responsibility Division of work Discipline Unity of command None 22. Management by objectives (MBO) emphasizes: Autocratic decision-making Aligning goals with organizational objectives Cost-cutting measures Flexible leadership styles None 23. Which leadership style allows employees to make their own decisions? Autocratic Laissez-faire Democratic Transactional None 24. Job enrichment focuses on: Adding responsibilities and challenges to a job Increasing salaries Decreasing workload Providing additional training None 25. The contingency approach to management suggests: Universal solutions for all situations Management practices depend on circumstances Adherence to strict rules and policies Avoiding risk-taking None 26. Which is an example of intrinsic motivation? Monetary rewards Promotion opportunities Personal satisfaction Bonuses None 27. Which of the following is NOT a barrier to communication? Noise Feedback Perception Cultural differences None 28. In Maslow’s hierarchy of needs, self-actualization is: A basic physiological need A The highest level of need safety need A social need None 29. A manager using feedback to improve performance is engaging in: Directive communication Evaluative communication Supportive communication Downward communication None 30. Which of the following is NOT an element of organizational behavior? Individuals Groups Technology Inflation None 31. A monopolistic competition market is characterized by: Homogeneous products Product differentiation A single seller Few buyers None 32. Which function of management involves inspiring employees? Controlling Planning Directing Organizing None 33. Economies of scale result in: Increased costs per unit Reduced costs per unit Constant costs per unit Fluctuating costs per unit None 34. The main objective of cost-push inflation is caused by: Increased consumer demand Higher production costs Government spending Increased imports None 35. SWOT analysis stands for: Strengths, Weaknesses, Opportunities, Threats Strategy, Work, Objectives, Timelines Skills, Workforce, Outputs, Training Systematic, Wide, Objective, Tactics None 36. A break-even point occurs when: Revenue equals variable cost Revenue equals fixed cost Revenue equals total cost Revenue exceeds cost None 37. Leadership is primarily: An innate trait The ability to influence others Based on authority Focused on decision-making None 38. A Gantt chart is used for: Financial planning Project scheduling Human resource planning Marketing strategies None 39. Which of the following is NOT a source of recruitment? Job portals Campus placement Internal transfers Resignation None 40. Effective communication is: One-way only Clear, concise, and understood Informal and unstructured Dependent solely on the sender 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!
