WorksheetsFINAL TEST OF COMMERCE ENGLISH
Total questions: 40
Worksheet time: 1hrs 20mins
1. Auction is ....
traditional way to buy something
a sale in which buyers compete for an asset by placing bids
interesting
the best way to buy something
2. Below are kinds of auction, except ....
Open Auction
Closed Format Auction
Dutch Auction
Indonesian Auction
3. Which one is the characteristic of Open auction ....
The bid starts from the lowest price and ends up at the highest price
The price of an item is lowered until there is a bid
Property may become the government-owned property
Interested parties submit sealed bids to the seller
4. Below are the benefit of doing an auction, except ....
Buy at a discount
Cost of running an auction is significant
Find rare items
Seller controls the process
5. Below are the weakness of doing an auction, except ....
Competitive process can deter some buyers
Cost of running an auction is significant
Seller can maximize bargaining power
Competitive bidding process can drive up the price
6. Central bank is ....
the "lender of last resort"
giving credit
a bank that performs business activities conventionally
issuing promissory notes
7. What is the main function of Central bank?
The central bank gives credit to people
Central bank carries out a nation's monetary policy and control its money supply
Central bank performs business activities conventionally
Central bank only operates on a micro-scale
8. When is the role of the central bank has been growing?
In 1870
After 21st century
In 1694
After World War I
9. Below are the function of Central bank on Macroeconomics ....
A Central bank offers funds to clients on a first-come
A Central bank lends additional funds to Commercial bank
A Central bank is controlling money supplies
Central bank performs business activities conventionally
10. What is the primary goal of central banks?
Central banks provide their countries' currencies with price stability by controlling inflation
Central banks help poor people
Central banks increase the inflation
Central banks keep the inflation high
11. What is an Exchange Rate?
The rate of increase in prices over a given period of time
The value of one nation's currency Versus the currency of another nation or economic zone
General decline in prices for goods and services
Cash or liquid assets being held or obtained for expenditures
12. Below are the factors that make Exchange rates can be decreasing, except ....
Political stability
Inflation
Imported goods
Exported goods
13. What are the types of Exchange rate?
Free floating,Restricted currencies, Currency peg
Free floating,Restricted currencies, Open rate
Restricted currencies, Open rate, Close rate
Restricted currencies, Currency peg, Close rate
14. Exchange rate rises and falls due to changes in the foreign exchange market is the definition of ....
Restricted currencies
Restricted floating
Free floating
Currency peg
15. To increase exchange rate of a country, we should ....
Import goods from another country
Export goods to another country
Travel to another country
Keep foreign currency
16. A free trade agreement is ....
an agreement of two countries
a free agreement of two countries
an agreement of trade
a pact between two or more nations to reduce barriers to imports and exports among them
17. Below are the benefits of having free trade agreement for a country ....
increase job outsourcing
there are so many imported goods
poor working condition
high market competition
18. Despite benefits offered by a free trade agreement, the negative effect of joining free trade agreement is ....
increase economic growth
Degradation of natural resources
Lower government spending
Technology transfer
19. By joining a Free Trade Agreement, the country can reduce government spending because ....
Foreign country spend their money
Big industry help local industry
The government removes subsidies for local industry
The country export many goods
20. Below are the members of AFTA (ASEAN Free Trade Area) ....
Indonesia, Malaysia, Thailand
Indonesia, Japan, Thailand
Indonesia, Japan, South Korea
Malaysia, Brunei Darussalam, Iran
21. Inflation is ....
when consumer and asset prices decrease over time, and purchasing power increases
a measure of the rate of rising prices of goods and services in an economy
the increase of money
a good economic phenomena
22. Below are the factors that can drive inflation in an economy, except ....
Cost-push inflation
Demand-Pull inflation
Supply inflation
The Housing Market
23. Demand-Pull inflation is ....
Inflation which can be caused by strong consumer demand for a product or service
Inflation which occurs when prices increase due to increases in production costs
Inflation which can be caused by exporting goods
Inflation which can be caused by importing goods
24. Who gets benefits from inflation ....
Savers
Debtors on fixed repayments plans
Worker on a fixed income
Exporters less competitive
25. Who loses when inflation occurred ....
Borrowers on variables rate
Owners of the land
Owners of Gold
Government with high public sector debt
26. Monopoly is ....
a market condition in which there is only one buyer
a market condition in which there are many buyers
a situation in which a single company or group owns all or nearly all of the market for a given type of product or service
a situation where seller meet buyer
27. When is the first monopoly occured ....
17th century
18th century
19th century
20th century
28. Below are the cause why monopoly occured, except ....
There are many sellers
Buying up the competition
Hoarding a scarce resource
There is only one seller
29. Below are kinds of monopoly, except ....
Natural monopoly
Pure monopoly
Industrial monopoly
Food monopoly
30. Which one is the negative effect of Monopoly ....
Higher prices for consumer
High profit for the company
Seller can control the price
The economy becomes competitive
31. Monopsony is ....
a market condition in which there is only one buyer
a market condition in which there are many buyers
a situation in which a single company or group owns all or nearly all of the market for a given type of product or service
a situation where seller meet buyer
32. Below are the characteristics of Monopsony ....
Many buyers, sellers have no alternatives, price is set by the buyer
Single buyer, sellers have no alternatives, price is set by the buyer
Single buyer, sellers have some alternatives, price is set by the seller
Single buyer, sellers have some alternatives, price is set by the buyer
33. Which one is the benefit from Monopsony ....
Seller can control the price
Buyer controls over the price and demand
Lower profit in selling the goods
Many alternative buyers
34. Which one is the negative effect of Monopsony ....
Many alternative buyers
Control over the market
Competitive price
Suppliers are squeezed to settle at lower price
35. Why monopsony in labor market is not good for the employee ....
They get high wage
The wage is lower
The profit is good
They can get many facilities
36. What is outsourcing ....
organization which provides labor
business practice of hiring a party outside a company to perform services
hiring a new employee
business practice
37. Why do companies prefer to use outsourcing?
High cost
Budget efficiency
Fast employee
Good control from the company
38. What are the benefits of outsourcing ....
Save time, reduce cost, increase efficiency
Save time, high cost, increase efficiency
Hidden cost, reduce cost, increase efficiency
Hidden cost, reduce cost, fast
39. What are the drawbacks of outsourcing ....
Efficient
Loss of managerial control
Reduced risk
Staffing flexibility
40. Why outsourcing is bad for employees ....
They get a high salary
They can get health insurance
No promotion
Get bonus
