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BA1 Exam Dumps : Fundamentals of Business Economics

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Fundamentals of Business Economics Questions and Answers

Question 1

All of the following would tend to lead to an industry being dominated by a small number of firms except one. Which ONE is the exception?

Options:

A.

Significant economies of scale in production

B.

The existence of entry barriers to the industry

C.

High initial capital costs in production

D.

Extensive consumer knowledge of products and prices

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Question 2

One of the features of an oligopoly market is that the pricing strategy of producers

Options:

A.

is conditioned by the expected reaction of rival producers

B.

tends to ignore expectations about consumer reactions

C.

is constrained by the absence of barriers to entry into the industry

D.

is largely determined by government competition rules

Question 3

Which global financial institution is responsible for providing stabilization funding to assist developed and developing countries with short term borrowing needs and needs for foreign currency?

Options:

A.

The IMF

B.

The World Bank

C.

The World Trade Organization

D.

The G20