CIMA Certificate BA1 CIMA Study Notes

Fundamentals of Business Economics Questions and Answers

Question 5

Market price refers to:

Options:

the price that is determined by demand and supply.

the price that includes tax

the value that is adjusted for inflation.

the price that maximise profits.

Question 6

Which of the following types of graph uses cumulative frequency distributions to illustrate information?

Options:

Bar chart

Histogram

Scatter graph

Ogive

Question 7

industrial action is more likely to occur within a large organisation than a small organisation, due to senior management becoming re managers becoming complacent, as well as shop floor hostility. The effect of this will be an increasing average cost as production

The statement above is most closely describing an example of which of the following?

Options:

External diseconomy of scale.

Internal diseconomy of scale

Internal economy of scale

External economy of scale

Question 8

Which of the following is an example of an indirect tax?

Options:

Corporation tax

Income tax

Inheritance tax

Sales tax

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Fundamentals of Business Economics Questions and Answers

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