Economics Quiz

Which of the following is a characteristic of a capitalist economy?

• Government ownership of resources

• Centralized economic planning

• Private ownership of resources

• Equal distribution of wealth

What is the primary objective of monetary policy?

• To regulate government spending

• To control the money supply and interest rates

• To increase exports

• To reduce income inequality

Which of the following is an example of fiscal policy?

• Central bank reducing interest rates

• Government increasing taxes

• Stock market regulation

• Exchange rate management

Which economic system combines elements of both capitalism and socialism?

• Command economy

• Mixed economy

• Traditional economy

• Market economy

The role of government in a market economy is typically to:

• Control prices

• Own all businesses

• Enforce laws and regulations

• Plan the entire economy

The Consumer Protection Act is designed to:

• Promote consumer spending

• Protect consumers from unfair trade practices

• Reduce consumer taxes

• Regulate consumer behavior

FEMA is primarily concerned with:

• Regulating domestic trade

• Foreign exchange management

• Consumer rights protection

• Environmental regulations

Which of the following is a socio-cultural factor affecting business?

• Tax policies

• Interest rates

• Cultural preferences

• Exchange rates

Corporate Social Responsibility (CSR) refers to:

• Maximizing profits for shareholders

• Voluntary actions by companies to benefit society

• Legal obligations of businesses

• Reducing operational costs

Globalization is driven by which of the following?

• Increasing tariffs

• Technological advancements

• Isolationist policies

• Currency devaluation