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CIMA BA1 Exam With Confidence Using Practice Dumps

Exam Code:
BA1
Exam Name:
Fundamentals of Business Economics
Certification:
CIMA Certificate
Vendor:
CIMA
Questions:
468
Last Updated:
Dec 1, 2024
Exam Status:
Stable
CIMA BA1

BA1: CIMA Certificate Exam 2024 Study Guide Pdf and Test Engine

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Fundamentals of Business Economics Questions and Answers

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Question 1

A research business compiles the following data for Country D over 8 years:

* Household expenditure, y (in millions of constant 20X6 dollars);

* The number of fixed broadband internet subscribers, x (in thousands).

Based on this information the following regression model is developed:

y = 332668 * 45.8x - 0 003x2

Which of the following statements is correct?

Options:

A.

The model is based on historical data, so it is of little use in making forecasts

B.

1 percent increase in the number of fixed broadband internet subscribers will lead to 0 3 percent increase in household final consumption expenditure.

C.

A non-linear relationship is suggested by the model between household final consumption expenditure and the number of fixed broadband internet subscribers.

D.

The model makes accurate forecasts on household final consumption expenditure in Country and therefore it should be widely applied to most countries and regions.

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Question 2

Inflation is undesirable for all of the following reasons except which one?

Options:

A.

Inflation decreases the international competitiveness of the business sector.

B.

Inflation distorts the price system and the process of resource allocation.

C.

Inflation shifts wealth from debtors to creditors in an arbitrary fashion.

D.

Inflation makes business forecasting and planning more difficult.

Question 3

A market is in equilibrium. If the government imposes a minimum price above the equilibrium price, there will be:

Options:

A.

an extension in demand, a contraction in supply and a market shortage

B.

a decrease in demand, an extension in supply and a market surplus

C.

a contraction in demand, an increase in supply and a market surplus

D.

a contraction in demand, an extension in supply and market surplus

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