1
BK013 Business Quiz – 2017/2018
ROUND 2
1. A situation where we have people whose level of income is not sufficient to meet the
minimum consumption expenditure is considered as _______
A. absolute poverty
B. relative poverty
C. urban poverty
D. rural poverty
2. Which of the following influences people’s purchasing plans and varies moving along a
demand curve?
A. Income
B. Preferences
C. The price of the good
D. The price of related goods
3. The excess of price a person is to pay rather than forego the consumption of the commodity
is called _______.
A. price
B. profit
C. producer surplus
D. consumer surplus
Round 3
1. Which of the following statement is NOT CORRECT about Goods and Services Tax?
A. GST implemented on 1st April 2015.
B. It will unify the tax structure in Malaysia.
C. GST will abolish all the direct tax levied in Malaysia.
D. GST is like a last point retail tax. GST is going to be collected at point of sale.
2. Which one among the following is NOT a clause of World Trade Organization?
A. Most favored nation treatment.
B. Lowering trade barriers with negotiations.
C. Providing financial support to the countries having deficit balance of payments.
D. Discouraging unfair trade practices such as anti-dumping and export subsidies.