The difference between the total amount of money received by a country and the total amount paid to other countries within a given period is the

• A. trade gap
• B. balance of trade
• C. balance of payments
• D. current account balance

Which of the following is not a factor of product?

• A. Capital?
• B. Land
• C. Labour
• D. Staffing

The government policy thrust on the business environment is to?

• A. promote experts
• B. attract investors
• C. be self-sufficient
• D. increase production

An insurance policy which is not a contract of indemnity is?

• A. burglary insurance
• B. fire insurance
• C. life insurance
• D. motor insurance

The significance of money to modern economic system is that it?

• A. is used as a means of payment
• B. promotes specialization and exchange
• C. measures value and promotes exchange
• D. causes inflation in the economy

Terms of trade refers to?

• A. agreement between two trading countries
• B. conditions attached to specific trade transaction
• C. the relationship between export and import prices
• D. the difference between the value imports and exports

The main purpose of branding is to?

• A. increase the quantity of goods demanded
• B. increase the selling price of goods
• C. differentiate goods from other similar goods
• D. enhance turnover of goods

A group of assets which a business acquires with the intention of reselling them are referred to as?

• A. current assets
• B. investment assets
• C. fixed assets
• D. intangible assets

Which of the following is a feature of sole proprietorship?

• A. Legal entity
• B. Unlimited liability
• C. Limited liability
• D. Continuity

Which of the following business risks would an insurance firm not cover for an entrepreneur?

• A. Theft
• B. Fire
• C. Loss of goods in transit
• D. Change in consumers' taste