ECONOMIC - TOPIC II - TYPE TEST QUESTIONS

A . . . process converts inputs into outputs (goods or services) with physical, technological, human and other types of resources
1. production
2. distribution
3. commercial
A production process includes actions that happen in a . . . way and produce a change or transformation of materials, objects or systems, at the end of which we obtain a product
1. planned
2. improvising
3. real
. . . economists use the three factors of production
1. Classic
2. Neoclassic
3. Keynesian
Adam Smith defined . . . factors
1. Three
2. Two
3. Four
Land is rewarded by the . . .
1. income
2. wage
3. interest
Labour is rewarded by the . . .
1. income
2. wage
3. interest
Capital is rewarded by . . .
1. income
2. wage
3. interest
. . . economists only use capital and labour
1. Classic
2. Neoclassic
3. Keynesian
Today . . . is considered, a component of capital or a component of a wider natural factor (natural resources or natural capital)
1. land
2. labour
3. capital
In the economy of knowledge and business development produced since the end of the 20th Century, people consider that technology and science is a . . . factor of production that characterizes more and more the production in the industrialised countries.
1. 3rd
2. 2nd
3. 4th
R&D is . . .
1. Research and Development
2. Research and Deactivation
3. Research and Deafening
R, D&I - is . . .
1. Research, Development and Innovation
2. Research, Deactivation and Inaccesible
3. Research, Deafening and Inadvertently
To the concept of physical capital or financial capital is added the concept of . . . capital
1. human
2. ciclical
3. structural
. . . factors of production are: natural capital, physical capital, material labour and intangible capital
1. Classic
2. Neoclassic
3. New
Intangible capital isn't . . .
1. know-how
2. organization
3. non-physical but computable assests
4. intangible labour
5. knowledge economy
6. intangible land
Investment allows the volume of the factors of production to . . .
1. increase
2. decrease
3. keep one's balance
. . . can be considered a form of investment, because it increases the abilities of the workers and the production
1. Training
2. Rest
3. Idleness
. . . is the increase in value that is produced in a good in each phase of the production process
1. Added Value
2. Addendum Value
3. Adaptable Value
To avoid . . . accounting added value is calculated in each stage of the production process
1. single
2. double
3. multiple
The . . . of labour, generally speaking, deals about specialization and cooperation of the labour forces in tasks and roles, with the objective of improving efficiency.
1. division
2. diversification
3. divinity
When a worker executes all the differents tasks necessary to manufacture a product, the performance is . . ., so it is necessary to share the tasks
1. slow
2. fast
3. the same
The types of division of . . . are: industrial division, vertical division and collateral division
1. labour
2. land
3. capital
The . . . division deals with division of tasks within an industry or firm.
1. industrial
2. vertical
3. collateral
The . . . division is a group of jobs executed before by one person but today is divided into different professions
1. industrial
2. vertical
3. collateral
The . . . division is the division that separates different professions.
1. industrial
2. vertical
3. collateral
. . . wrote the book “An Inquiry into the Nature and Causes of the Wealth of Nations”
1. Adam Smith
2. John Locke
3. Juan de Mariana
One of the advantages of division of labour is to save . . ., because each worker doesn't need to have all the tools that he would need for the different functions
1. capital
2. time
3. mistakes
One of the advantages of division of labour is to save . . ., because the worker doesn't need to constantly change tools.
1. capital
2. time
3. mistakes
One of the advantages of division of labour is to . . . mistakes, because the tasks that each worker executes are easier
1. decrease
2. increase
3. keep one's balance in
The . . . product is the total amount in physical units that is obtained for the total amount of factor used
1. total
2. marginal
3. average
The . . . product is the variation that the total production experiences when it uses one additional unit of factor
1. total
2. marginal
3. average
The . . . product is the amount of units of product that are obtained for every unit of factor used
1. total
2. marginal
3. average
The . . . is the ratio of the obtained production through a production or services system and the resources used to obtain it
1. productivity
2. profitability
3. benefit
The productivity can be defined as the ratio of the results and the time used to obtain them: the . . . time used to obtain the wanted result, the more productive the system is
1. less
2. more
3. most
The productivity is the . . . of a system's outputs and inputs
1. ratio
2. subtraction
3. multiplication
A . . . productivity using the same resources or producing the same goods or services equals greater profitability for the company
1. greater
2. smaller
3. back
. . . is the incresase or decrease of output, it's caused by the variation of any factors that take part in the production: labour, capital, technique, etc.
1. Labour productivity
2. Total factor productivity (TFP)
3. Total labour productivity (TLP)
. . . is the difference between the increase rate of the production and the weighted increase rate of factors (labour, capital, ...).
1. Labour productivity
2. Total factor productivity (TFP)
3. Total labour productivity (TLP)
The . . . is a measurement of the effect of the economies of scale
1. TFP
2. TLP
3. TVP
In the . . . the total production increases more in proportion to the amount that each factor of production increases.
1. economies of scale
2. deseconomies of scale
3. real economies
The economic . . . is a result of specialization
1. interdependence
2. independence
3. inanimated
The interdependence . . .
1. is not inflexible
2. is inflexible
3. is not flexible
The relationships between imperialist nations and their colonies . . .
1. aren't unilateral
2. are unilateral
3. aren't bilateral
The . . . need the foreign powers for their development
1. colonies
2. perfumes
3. collaborators
The power countries need the colonies to obtain . . .
1. raw material
2. capital
3. manufactured products
The . . . is the basic economic unit in charge of satisfying the market's needs using material and human resources
1. household
2. firm
3. public sector
The . . . is in charge, therefore, of organizing the factors of production, capital and labour
1. household
2. firm
3. public sector
The . . . manages and plans the activities of the purchasing, production, transport, warehousing, maintenance and distribution departments
1. business logistic
2. management and Human Resources
3. marketing
The . . .selects, hires, trains, employes and maintains collaborators of the organization
1. business logistic
2. management and Human Resources
3. marketing
The . . . designs the product, assigns the prices and chooses the most appropriate channels of distribution and techniques of communication in order to launch a product that will satisfy truly the needs of the costumers
1. business logistic
2. management and Human Resources
3. marketing
The . . .'s Four P's are: product, price, distribution or place and advertising or promotion.
1. Grundy
2. Grunny
3. Granny
The . . . studies how the enterprise can obtain and manage the money that it need to achive its objectives and how it arranges its assets
1. marketing
2. finances and administration
3. sales
The . . .is in charge of the sales of the products of the enterprise and customer service.
1. marketing
2. finances
3. sales
The firm classification according to the . . . is: Primary sector, Secondary sector and Tertiary sector
1. economic activity
2. legal status
3. size
The firms from the . . . sector are mainly extractive
1. primary
2. secondary
3. tertiary
The firms from the . . . sector create the utility of the goods when they obtain the resources from nature
1. primary
2. secondary
3. tertiary
The agriculture is from the . . . sector
1. primary
2. secondary
3. tertiary
The livestock is from the . . . sector
1. primary
2. secondary
3. tertiary
The fisheries are from the . . . sector
1. primary
2. secondary
3. tertiary
The mining is from the . . . sector
1. primary
2. secondary
3. tertiary
The firms from the . . . sector physically convert some goods in others more useful
1. primary
2. secondary
3. tertiary
The industrial firms are from the . . . sector
1. primary
2. secondary
3. tertiary
The building firms are from the . . . sector
1. primary
2. secondary
3. tertiary
The . . . sector has activities such as transport, tourism, consultancy, etc
1. primary
2. secondary
3. tertiary
The firms classification according the . . . is: firms that belong to only one person and firms that belong at a group of persons
1. economic activity
2. legal status
3. size
In the firms that belong to only one person, this person has an . . . responsability
1. unlimited
2. limited
3. fiduciary
The cooperatives belong to the . . . economy
1. social
2. financial
3. capitalistic
The firm classification according the . . . is: microenterprise, small enterprise, medium-sized enterprise and great enterprise
1. economic activity
2. legal status
3. size
A . . . has 10 workers or less
1. microenterprise
2. medium-sized enterpirse
3. small enterprise
A . . . has between 11 and 50 workers
1. microenterprise
2. small enterprise
3. medium-sized enterprise
A . . . has between 51 and 250 workers
1. microenterprise
2. small enterprise
3. medium-sized enterpirse
A . . .has more than 250 workers
1. small enterprise
2. medium-sized enterprise
3. Great enterprise
The firm classification according the . . . is : local, regional, national and multinational
1. economic activity
2. legal status
3. area of activities
The firm classification according to . . . is: private sector company, public sector company, mixed company and self-management company
1. his legal status
2. his economic activity
3. who is the owner
In a . . . the owners are individuals
1. private sector company
2. public sector company
3. self-management company
In a . . . the owner is the State
1. private sector company
2. public sector company
3. self-management company
In a . . . company the owners are individuals and the State
1. private sector company
2. public sector company
3. mixed company
In a . . . company the owners are the workers
1. private sector company
2. public sector company
3. self-management company
The firm classification according to the . . . is : applicant firm, specialist firm, leader firm and follower firm.-
1. economic activity
2. legal status
3. market share
A/an . . . firm concentrates in a market segment as a near monopolist
1. applicant
2. specialist
3. leader
A/an . . . firm is the most important firm and it is imitated by the others
1. applicant
2. specialist
3. leader
A/an . . . firm hasn't an important market share and isn't a problem to the leader firm
1. applicant
2. specialist
3. follower
. . . costs are the sum of fixed costs and variable costs
1. Total
2. Marginal
3. Average
. . . costs are invariable if the activity level has small changes
1. Fixed
2. Total
3. Variable
. . . costs are connected with productive structure
1. Fixed
2. Total
3. Variable
. . . costs are called structure costs,
1. Fixed
2. Total
3. Variable
. . . costs are used to make reports about the degree of use of that productive structure
1. Fixed
2. Total
3. Variable
. . . costs change if the activity level changes
1. Variable
2. Total
3. Fixed
If the activity level decreases, . . . costs decrease
1. variable
2. total
3. fixed
Except when there are structural changes, in the economic units – or productive units – . . . costs have a linear behaviour, because the average value per unit tends to be constant
1. variable
2. total
3. fixed
In Microeconomic Theory . . . costs are not linear, at the beginning they are more increasing but after that they are less increasing
1. variable
2. total
3. fixed
. . . is the wealth that a person obtains from an economic process
1. Profit
2. Income
3. Performance
. . . is total income minus total production and distribution costs
1. Profit
2. Performance
3. Success
. . . is output value minus input value
1. Profit
2. Income
3. Performance
Negative . . . is called loss
1. profit
2. income
3. performance
In Andalusia, . . . Sector has the least percentage of the total production but it has a big relative importance with the other productive sectors
1. Primary
2. Secondary
3. Tertiary
The importance of the Primary sector in Andalusia is greater if we compare it with the primary sector of other . . . economies, where it has been reduced to the smallest quantity
1. western
2. asian
3. african
In Andalusia, The primary sector produces . . .% of the total
1. 8.26
2. 8.19
3. 15.3
In Andalusia, The primary sector takes up . . .% of the working population
1. 8.26
2. 8.19
3. 15.3
In Andalusia, . . . sector is a small competitive sector since other economies with far smaller working population produce far more
1. primary
2. secondary
3. tertiary
To this relative importance of the Andalusian . . . sector must be added its long tradition in Andalusia, where it's deeply rooted.
1. primary
2. secondary
3. tertiary
Greenhouse farming, mainly in . . . has also increased.
1. Cadiz
2. Granada
3. Almeria
The Andalusian fishing fleet is the . . . most important of Spain
1. first
2. second
3. third
The fish farm of . . ., in Granada, exports 40% of its caviar production, and it competes in international markets with Russian and Iranian caviar
1. Riofrio
2. Lanjaron
3. Guadix
The Andalusian livestock is . . .% of the national livestock
1. 10
2. 20
3. 30
The Andalusian agriculture is . . .% of the national agriculture
1. 10
2. 20
3. 30
Only . . .% of the Andalusian needs for meat and milk are supplied by the Andalusian livestock
1. 50
2. 60
3. 70
In . . ., in Andalusia, the most important animals are deer and wild boars but also wild goats, mouflons, fallow deer, roe deer, etc.
1. the big game hunting
2. shooting
3. cassing
In Andalusia, the most important animals in . . . are partridges, rabbits, hares, quails, thrush, pigeons, etc
1. the big game hunting
2. shooting
3. cassing
In Andalusia, . . . resources are very important due to their extension and diversification: grass, fruits, wood, etc., and due to other aspects such as the fixing of the ground, hydric regulation and maintenance of the flora and the fauna
1. forest
2. mining
3. livestock
In total, the forest area is . . .% of the Andalusian area,
1. 40
2. 50
3. 60
In Andalusia, the value of the production of the forest areas is only . . .% of the agricultural production
1. 2
2. 5
3. 10
Andalusia has . . .% of the metallic extractions
1. 59
2. 69
3. 63
Andalusia has . . .% of the extraction of gold and silver
1. 100
2. 92
3. 98
Andalusia has . . .% of strontium
1. 98
2. 100
3. 92
At the beginning of . . . the international financial crisis worsened, the banks saw a fall in their profits, and the market exchange experienced sharp falls
1. 2008
2. 2007
3. 2009
In Andalusia, . . . sector has had a very important increase in the last decades
1. Primary
2. Secondary
3. Tertiary
. . . sector was minority and now it is majority in the western economies
1. Primary
2. Secondary
3. Tertiary
By 1975 the tertiary sector produced . . .% of the Andalusian Gross Value Added (GVA)
1. 51.1
2. 60.3
3. 67.9
By 1975 the tertiary sector gave employment to . . .%
1. 40.8
2. 50.1
3. 66.42
By 2007 the tertiary sector produced . . .% of the GVA
1. 51.1
2. 40.8
3. 67.9
By 2007 the tertiary sector produced . . .% of the jobs.
1. 67.9
2. 66.42
3. 51.1
In Andalusia, trade is focused in the export of food and agriculture products and in the import of . . . products
1. energetic
2. industrial
3. livestock
The three main countries that buy Andalusian products are Germany, France and Italy with . . .% of the total exports
1. 33
2. 45
3. 41
Algeria, Nigeria and Russia sell to Andalusia mainly oil and account for . . .% of imports
1. 33
2. 25.2
3. 24.2
Andalusia is the . . . Spanish community in tourism
1. first
2. second
3. third
What would be the added value in the first stage of the production if the wood is sold at 10 €, the wholesale chair at 17 € and the retail chair at 25 €?
1. 10
2. 7
3. 8
What would be the added value in the second stage of the production if the wood is sold at 10 €, the wholesale chair at 17 € and the retail chair at 25 €?
1. 10
2. 7
3. 8
What would be the added value in the third stage of the production if the wood is sold at 10 €, the wholesale chair at 17 € and the retail chair at 25 €?
1. 10
2. 7
3. 8
What would be the marginal product for three workers, if the total products, according to the number of workers are: 1-3,000, 2-5,800, 3-8,300?
1. 2,500
2. 2,766,67
3. 17,100
What would be the marginal product for three workers, if the average products, according to the number of workers are: 1-4,300, 2-3,800, 3-3,000?
1. 1,400
2. 800
3. 9,000
What would be the total product for three workers, if the average products, according to the number of workers are: 1-5,300, 2-4,800, 3-3,000?
1. 9,000
2. 1,800
3. 1,000
What would be the total product for three workers, if the marginal products, according to the number of workers are: 1-5,300, 2-4,800, 3-3,000?
1. 13,100
2. 9,000
3. 1,800
What would be the average product for three workers, if the marginal products, according to the number of workers are: 1-15,300, 2-14,800, 3-13,000?
1. 14,366.67
2. 43,100
3. 1,800
What would be the average product for three workers, if the total products, according to the number of workers are: 1-15,300, 2-24,800, 3-32,000?
1. 10,666.67
2. 7,200
3. 72,100

ECONOMIC - TOPIC II - TYPE TEST QUESTIONS - By Antonio Ginés