Economics MCQs 27

Short-term loans to the public for the purchase of specific goods is called:
(a) Commercial Credit
(b) Public Credit
(c) Consumer Credit-✔️
(d) None of the above

An economic good or commodity purchased by households for final consumption is called:
(a) Consumer good
(b) Consumption good
(c) Final good
(d) All of the above-✔️

An index (index number) of the prices of goods and services purchased by consumers to measure the inflation rate or the cost of hving is called
(a) Consumer Price Index
(b) Retail Price Index
(c) Both of the above-✔️
(d) None of the above

The use of resources to satisfy current needs and wants is called:
(a) Depletion
(b) Dissipation
(c) Consumption-✔️
(d) Destruction

A statement of the rights and obligations of each party to a transaction or transactions is called:
(a) Treaty
(b) Compact
(c) Contract-✔️
(d) Covenant

A business function concerned with the formulation of long term objectives and the development of plans to achieve them is called:
(a) Business Planning
(b) Corporate Planning-✔️
(c) Both of the above(d) None of the above

A piece of paper entitling the owner to money payments, cut-price or free goods or rations is called
(a) Cheque
(b) Note
(c) Coupon-✔️
(d) Bond

A measure of the expectation of the population that the government, or monetary authorities will adhere to policies dehvering low inflation is called
(a) Credibility-✔️
(b) Faith
(c) Integrity
(d) None of the above

Credit is the use or possession of goods without immediate payment. Which of the following is a type of credit?
(a) Consumer credit
(b) Bank credit
(c) Trade credit
(d) All of the above-✔️

A plastic, personal magnetized card with the name and account number of the holder and the expiry date embossed is referred to as:
(a) Master Card
(b) Visa Card
(c) Credit Card-✔️
(d) Green Card