Tag: economics

Quizzes (361) Questions (3598)

Questions Related to economics

Multiple choice economics how does production take place? entrepreneur land,labour, capital and entrepreneur production mechanism

The Bill & Melinda Gates Foundation now ______________.

  1. issues loan guarantees

  2. issues direct funds

  3. leverage the position

  4. acts as financial vehicle
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

The Bill and Melinda Gates Foundation now issues loans,rather than direct funds ,to some of the enterprise it supports ,recognizing that this is an efficient way to leverage its donations and provide organizations with more certain-funding.

Multiple choice economics how does production take place? entrepreneur land,labour, capital and entrepreneur production mechanism

The funding of social entrepreneurs is essentially a problem of ________.

  1. availability of investment option

  2. financing structuring

  3. profits

  4. None of the above
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Social entrepreneurs usually are not profitable enough to access traditional financial markets,resulting in a financial-social gap. Thus, the funding of social entrepreneurs is essentially a problem of financing structuring.

Multiple choice economics how does production take place? entrepreneur land,labour, capital and entrepreneur production mechanism

The process of co-ordinating land, capital and labour for production is called _________________.

  1. Organize

  2. Entrepreneurship

  3. Service

  4. Coordination
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

The process of coordinating land, capital and labour for production is called Entrepreneurship. It is the capacity and willingness to develop, organize and manage a business venture along with any of its risks in order to make a profit. Entrepreneurs act as managers and oversee the launch and growth of an enterprise.

Multiple choice economics how does production take place? entrepreneur land,labour, capital and entrepreneur production mechanism

An entrepreneur must be ______ to foresee the changes in the market so that the production could be adjusted accordingly.

  1. careless

  2. farsighted

  3. negligent

  4. ignorant
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

An entrepreneur must be Farsighted to foresee the changes in the market so that the production could be adjusted accordingly. If a entrepreneur will have the awareness of future possibilities, he will do some adjustment according to it. 

Multiple choice economics how does production take place? entrepreneur land,labour, capital and entrepreneur production mechanism

The main functions of an entrepreneur are grouped categories including ______________.

  1. risk-bearing functions

  2. administrative and decision-making functions

  3. distributive functions

  4. all of the above
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

The entrepreneur brings the other 3 factors of production together in  order to  make a product or provide a service. 

Multiple choice economics how does production take place? entrepreneur land,labour, capital and entrepreneur production mechanism

An entrepreneur always attempts to bring change in terms of factor proportions which is called innovation. A manager is concerned only with day-to-day affairs of a going concern.

  1. True

  2. False
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

An entrepreneur is a person with an idea who takes the risk to pursue the idea and turn it into reality.On the other hand,manager manages the operations and functions of the organizations.

Multiple choice economics how does production take place? entrepreneur land,labour, capital and entrepreneur production mechanism

___________ is one of the most important functions of an entrepreneur.

  1. Entertainment

  2. Innovation

  3. Administration

  4. Production
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Innovation is important for entrepreneur because an entrepreneur leads the rest of the firm and constant innovation is required for being competitive in the market and hence create more income for themselves and the country. 

Multiple choice economics how does production take place? entrepreneur land,labour, capital and entrepreneur production mechanism

An entrepreneur must have the qualities of __________.

  1. influencing the people

  2. win their confidence

  3. must understand human nature

  4. all of the above
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

An entrepreneur must have the capability to interact with the people. The entrepreneur should make the people happy and win their confidence. He should be able to understand the nature of the people. He should react according to the person's behaviour.