Chapter 2: How Economic Issues Affect Business – Exam Questions with Correct Answers | Latest Update 2026 | Verified Study Guide

CHAPTER 2 HOW ECONOMIC ISSUES ee ee ee ee




AFFECT
ee BUSINESS QUESTIONS ee ee




WITH CORRECT ANSWERS 2025
ee ee ee ee


Macroeconomics ee - ee correct ee answer-
looks eeat eethe eeoperation eeof eea eenation's eeeconomy eeas eea eewhole eeex. eehow eemany eejobs eeexist eein eethe
eewhole eeecono e e my




Microeconomics ee - ee correct ee answer-
looks eeat eethe eebehaviour eeof eepeople eeand eeorganizations eein eeparticular eemarkets eeex. eehow eemany
eepeople eewill eebe eehired eein eea eeparticular eeindustry eeor eein eea eeparticular eeregion eeof eethe eecountry




Economic ee Theory ee of ee Wealth ee Creation: ee Adam ee Smith ee - ee correct ee answer-- ee Right e e to ee Make e e a ee Profit

- Right ee to e e Private ee Property

- Right e e to e e Buy e e or e e Sell

- Freedom e e to e e Compete

- Freedom ee from ee Government ee Interference



Four ee Economic ee Systems ee - ee correct ee answer-1. ee Communism

2. Socialism

3. Mixed

4. Capitalism



Capitalism ee - ee correct ee answer-Individuals ee seeking ee profit ee produce ee goods ee and ee services

-
All eeor eemost eeof eethe eefactors eeof eeproduction eeand eedistribution eeare eeprivately eeowned eeand eeare
ee operated eefor eepr e e ofit



Socialism ee- ee correct ee answer-Some ee free ee market ee and ee some ee government e e allocation

- government eemakes ee more ee of ee the ee purchase e e decisions ee rather ee than e e individuals