WorksheetsCIE IGCSE Business Chapter 27 and 28 plus
Total questions: 44
Worksheet time: 28mins
The Business Cycle measures ___ over time.
wealth
inflation
economic growth
Which of the following is not a macroeconomic goal?
low unemployment
rise in the minimum wage
price level stability
The business cycle directly measures which economic goal?
full employment
growth
price stability
Unemployment measures...
the value of all final goods and services produced
an increase in the general price level
the percentage of people looking for work that can't find it
the economic freedom an economy offers
Which of the following is a peak?
A
B
C
D
Which of the following is a recession, or contraction?
A
B
C
D
Which of the following is a trough?
A
B
C
D
Which of the following is an expansion, or recovery?
A
B
C
D
If a news headline says, "Finally!!! 2 straight months of increased jobs."
Where on the business cycle is the current economy?
Peak
Contraction/Recession
Trough
Expansion/Growth/Recovery
What is inflation?
Increase general price level of goods and services
Increase price level from one private organisation
Decrease general price level of goods
Increase general price level of services
The four stages an economy through over a period of time, as an economy does not grow at a steady rate.
Inflation
Business Cycle
Exchange rate
Economic growth
The total value of output of goods and services in a country in one year.
Economic Growth
Balance of payment
Gross Domestic Product
Real Income
Goods ans services sold from one country to another countries.
Exports
Imports
Tariff
Quota
A change in interest rates by the government or central bank, e.g Indonesian Central Bank
Export policy
Trade policy
Fiscal policy
Monetary policy
Paid directly from incomes e.g. income tax or profit tax.
Indirect taxes
Direct taxes
Import tariff
Export quota
Any change by the government in tax rates or public sector spending.
Monetary policy
Fiscal policy
Direct taxes
Indirect taxes
Which one is NOT the economic objectives?
low inflation
low unemployment
lower level of output
increasing GDP
A recession will lead to fall in demand for all goods and services.
True
False
Which one is NOT monetary policy (changing interest rates)
higher interest on new loans and overdraft increases costs
less new investment
increase in spending on government services or investments in schools
could lead to higher exchange rate
A tax on imports
tariff
import tax
supply
embargo
A limit to the number of imports that may enter a country
tariff
embargo
demand
quota
Rules used to try to limit trade with other countries
embargo
tariff
trade barriers
quota
Which of the following is a benefit of implementing supply-side policies?
Increases employment
Very costly
People are resistant to change
Policies take a long time to implement
Which one of the following is NOT a supply side policy?
The government increasing competition in all industries
The government reducing import controls
The government investing in training and education
The government privatising national industries
True or false.
Companies should take the expectations of the broader community into account when making decisions.
True
False
What is corporate responsibility.
Polluting
Not giving back to the community.
Doing business to meet the needs of the current generation, without harming the ability of future generations.
Business contributions to the community.
Business activities that meet present needs without harming the future are said to be …………………………….
Renewable
Sustainable
Ethical
Profit-making
Which of the following is not an aspect of corporate social responsibility?
Social Cost
Social Benefit
Interest Stakeholders
Price of Goods
Which of the following example of an unethical business practice?
Selling products at competitive prices
Advertising products on television
False advertising of products and services
Payment of overtime for extra work done by workers
The Positive Impact of a business decision on society
Externality
social cost
social benefit
emission
Which is an example of unethical business behavior?
True advertising
Proper disposal of waste
Avoiding paying taxes to the government
Listening to customer complaints
The national government gets most of its money from...
sales tax
property tax
income tax
school tax
Diseconomies of Scale result in a lower per unit production cost over the long run
True
False
A business checks products after they are made. What is this an example of?
Quality Control
Quality Circles
Quality Assurance
When products are checked at each stage of production, what is this an example of?
Quality Control
Quality Circles
Quality Assurance
