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WorksheetsEconomics Quiz
Total questions: 39
Worksheet time: 20mins
What does the noun want often relate to in economics?
Desire for goods or services, often influenced by advertising
Government regulation of industries
Corporate decision-making structure
Taxation policies and revenue codes
Distribution of company profits
What is the annual meeting of stockholders?
A yearly gathering where shareholders discuss company matters and vote
A weekly meeting between managers and workers
A court-ordered review of company debts
A government inspection of corporate offices
A seminar on financial literacy for executives
What are articles of incorporation?
Legal documents that establish a corporation
Newspaper publications about stock trading
Informal notes taken at shareholder meetings
Government advertisements for companies
Marketing brochures for business expansion
What is considered an asset?
Anything of value owned by a business or individual
A loan given by a bank to a borrower
The tax rate charged on corporate profits
A meeting between directors and shareholders
A type of retail transaction
A bargain price refers to:
A price lower than the usual or expected market value
The fixed wage rate paid to employees
The legal claim over company property
The taxation of dividend income
The allocation of production resources
What is the Board of Directors responsible for?
Overseeing the management and major decisions of a corporation
Conducting retail sales and promotions
Issuing government regulatory guidelines
Organizing wholesale trade agreements
Managing employee wage scales
What is a bond?
A debt security issued by corporations or governments to raise funds
A share in company ownership
A managerial decision-making strategy
A retail trading license
A type of promotional campaign
Who is a borrower?
A person or entity that takes money from a lender with the obligation to repay
A shareholder receiving dividends
A government regulator supervising taxes
A company lawyer handling lawsuits
A partner in a proprietorship
What is the capital-gains tax law?
Legislation governing taxes on profits from the sale of assets
A law requiring companies to issue stock
A tax on employee wages and salaries
A rule for allocating labor resources
A system of import-export tariffs
Who is the chairman of the board of directors?
The leading officer who presides over board meetings
A government-appointed auditor
A wholesale trader in retail markets
A representative of insurance companies
A manager responsible for wage rates
Who is the chief executive officer (CEO)?
The highest-ranking executive responsible for overall management
A part-time consultant advising the board
A shareholder holding voting rights
A government inspector of corporate taxes
A lawyer representing the company in lawsuits
What is a claim in economics?
A demand for something due, such as payment or ownership
A discount offered at a retail trade shop
A promotional advertisement for new products
A tax regulation established by the government
A production quota set by management
What does company morale mean?
The general emotional and psychological state of employees
The legal liability of a firm
The inventory of retail goods
The government’s annual corporate tax report
The marketing strategy for wholesale trade
What is debt capital?
Funds raised by borrowing, to be repaid with interest
Equity investments made by shareholders
Assets sold at bargain prices
Profits distributed after taxation
Salaries paid to executives
What is decision-making in business?
The process of choosing among alternatives to achieve goals
The selling of retail products
The issuance of government regulations
The allocation of employee wages
The scheduling of stockholder meetings
What does double taxation mean?
Corporate profits taxed at both the corporate and shareholder level
Employees paying two different wage taxes
Government levying taxes twice on imported goods
Borrowers repaying loans with extra charges
Partners splitting income twice a year
What is equity capital?
Ownership funds contributed by shareholders
Borrowed funds subject to interest
Tax revenues collected by governments
Salaries paid to employees
Retail profits earned in markets
What is a stock exchange?
A marketplace for buying and selling securities
A company’s annual promotional campaign
A government agency regulating trade
A board meeting of executives
A method of calculating wage rates
Who are executives in a corporation?
High-level managers responsible for strategic decisions
Government regulators of financial institutions
Shareholders attending annual meetings
Retail traders selling goods directly
Insurance company representatives
What is the federal corporate income tax?
A tax imposed by the government on corporate profits
A tax on personal wages
A tariff on imported retail goods
An excise tax on consumer products
A progressive scale of property taxes
What is a fee in business?
A fixed payment charged for a service
The gross profit earned by a company
The interest rate on borrowed loans
A type of advertising expense
A discount offered at wholesale trade
What is the connection between want and advertising?
Advertising often stimulates or creates wants for goods and services
Advertising is unrelated to consumer demand
Wants only exist independently of advertising
Wants are the same as income taxes
Advertising eliminates scarcity in markets
What is a flat income tax scale?
A tax system where everyone pays the same rate regardless of income
A progressive tax system with higher rates for higher incomes
A bracketed scale for corporate profits
A tax applied only to dividends
A fee charged by insurance companies
What does fraction of income mean?
A portion of an individual’s or household’s earnings
The entire gross salary of an employee
A tax deduction allowed by the government
The annual profit of a company
A fee charged on stock transactions
What is goodwill of the company?
The intangible value of reputation, brand, and customer loyalty
The tangible assets owned by the company
The salaries paid to executives and employees
The profit margin after taxes
The inventory of retail goods
What are government regulatory bodies?
Agencies that oversee and control specific industries
Shareholders who vote at annual meetings
Lawyers handling corporate lawsuits
Employees working in wholesale trade
Insurance companies offering financial products
What are income sharing rules?
Guidelines for distributing profits or income among stakeholders
Laws regulating government taxation
Salary scales in retail trade
Promotional policies for marketing
Insurance agreements for employees
What is income tax?
A government levy on individual or corporate earnings
A company’s gross profit before expenses
The allocation of wages to employees
A receipt issued in retail trade
A shareholder’s equity contribution
What does average income represent?
The total income divided by the number of earners
The highest income in a society
A progressive tax bracket
The marginal revenue from sales
A fee charged by financial institutions
What is marginal income?
Additional income earned from producing or selling one more unit
The average income of a household
The gross profit from sales
The total corporate tax liability
A company’s fixed fee for services
What is after-tax income?
The amount of income left after taxes are deducted
The gross salary before taxation
The fraction of income allocated to savings
The tax rate applied to profits
The capital invested by shareholders
What is input in economics?
Resources used in the production process
The profit earned after sales
The income distributed among shareholders
A promotional activity to boost demand
A financial claim in a lawsuit
Who is an insider in financial markets?
A person with access to confidential company information
A retail trader buying wholesale goods
A lawyer representing shareholders
A government regulator enforcing taxes
A company executive working abroad
What are insurance companies?
Firms that provide financial protection against risk
Agencies that regulate international trade
Shareholders investing in equity capital
Government tax collection departments
Retail traders selling wholesale goods
What is the International Revenue Code?
A set of tax laws governing income and corporate taxation
A business agreement between shareholders
A stock purchase contract
A promotional guideline for marketing
An allocation of employee wages
What does inventory mean?
A list or stock of goods available for sale or use
A financial fee charged by banks
The after-tax income of a company
The liability of a corporation
The gross profit earned by shareholders
What are investment funds?
Pools of money collected from investors to buy securities
Fees charged by government regulators
Salaries distributed to employees
Receipts issued in retail trade
Laws governing double taxation
What is issuance of stock?
The process of a company offering shares to investors
The government collecting taxes
The advertising of new products
The filing of corporate lawsuits
The distribution of employee wages
What is a lawsuit?
A legal case brought before a court
A financial agreement between shareholders
A government tax bracket system
A wholesale trade arrangement
