External Influences: Test 1 - Question Bank

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Question Bank - Business Studies

External Influences: Test 1

Q1. An increase in the rate of interest may reduce the profits of a company because (Select one answer) (a) the customers will have more money to spend. (b) exports will become easier and cheaper. (c) costs will increase since overdrafts and loans will be more expensive. (d) it will become more rewarding to invest in new products and projects.

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Q3. Structural unemployment can be caused by all of the following, except (Select one answer) (a) a collapse in the demand for coal, leading to pit closures in South Wales. (b) a slowing of the economy. (c) growth of the textile industry in India, leading to the failure of the industry in Lancashire. (d) collapse of the market for valves after the invention of transistors.

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Q4. A market is said to be oligopolistic when (Select one answer) (a) it is dominated by a single supplier of a product. (b) a few significant suppliers dominate the market for a product. (c) there are many small firms supplying the same product. (d) there are many branded varieties of the product on the market.

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Q5. All of the following are examples of unfair competition, except (Select one answer) (a) two firms agreeing to fix their prices. (b) three companies agreeing to share a market between them. (c) a monopolist charging excess prices for its product. (d) exploiting a patent that the firm has on a product it has developed itself.

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