(a) The exchange of goods and services between countries
(b) The exchange of goods and services within a country
(c) The exchange of goods and services within a city
(d) none of these
Economics and Business

Economics and Business MCQs for Test Preparation. These Economics and Business MCQs are the most repeated MCQs and very important for all type of exams organized by FPSC, PPSC, KPSC, SPSC, BPSC, NTS, PTS, OTS, UTS, CTS, ITS and other testing agencies of Pakistan. Most important FPSC MCQs, PPSC MCQs, KPSC MCQs, SPSC MCQs, BPSC MCQs, NTS MCQs, PTS MCQs, OTS MCQs, UTS MCQs, CTS MCQs, ITS MCQs and other MCQs for test preparation in Pakistan.
(a) An asset is something a business owns, a liability is something a business owes.
(b) An asset is something a business owes, a liability is something a business owns.
(c) They are the same thing.
(d) Assets are more valuable than liabilities
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(a) To control all aspects of the economy
(b) To provide public goods and services
(c) To regulate businesses
(d) All of the above
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(a) Profit is revenue minus expenses, revenue is total sales.
(b) Revenue is profit minus expenses, profit is total sales.
(c) They are the same thing.
(d) Profit is a measure of efficiency, revenue is a measure of growth.
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(a) To manage customer relationships
(b) To develop marketing strategies
(c) To manage the flow of goods and services from production to consumption
(d) To track financial results
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(a) Entrepreneurs take risks and innovate, managers oversee day-to-day operations.
(b) Managers take risks and innovate, entrepreneurs oversee day-to-day operations.
(c) They are the same thing.
(d) Entrepreneurs are more experienced than managers.
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(a) A market with many buyers and one seller
(b) A market with one buyer and many sellers
(c) A market with perfect competition
(d) A government-controlled market
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(a) Microeconomics studies individual markets, macroeconomics studies the entire economy.
(b) Microeconomics studies businesses, macroeconomics studies consumers.
(c) Microeconomics studies short-term trends, macroeconomics studies long-term trends.
(d) Microeconomics studies production, macroeconomics studies consumption.
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(a) The concept that money loses purchasing power over time.
(b) The amount of money needed to complete a specific task.
(c) The risk associated with investing money.
(d) The cost of borrowing money.
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(a) Fixed costs change with production, variable costs remain constant.
(b) Variable costs change with production, fixed costs remain constant.
(c) Fixed costs are higher than variable costs.
(d) Variable costs are higher than fixed costs.
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