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Economics Questions test (2)

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Home > Free English Tests for ESL/EFL > English Language Proficiency Test, Advanced Level # 82
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A manager is the person who directs, supervises and operates a business or a section of a business. This person is in a management position but is not always the owner of the company.

Correct answer: (b) manager

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When people or departments become highly-skilled in one area of production because they only create or produce one item or one part of an item, specialization occurs.

Correct answer: (c) specialization

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An assembly line is a system where products or parts of products move from one worker to another. This is an efficient system that is used in order to manufacture products in a highly productive manner.

Correct answer: (c) An assembly line

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When companies split up or divide workers' tasks so that each worker performs one job or task, the process is known as division of labor.

Correct answer: (a) division of labor

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Many companies around the world use technology, or make use of scientific advancements, to manufacture new and improved products every day.

Correct answer: (c) technology

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Databases store huge amounts of information within computer systems that were not in existence 40 years ago.

Correct answer: (b) Databases

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In some nations, people and families are below the poverty level and are in need so they are given welfare in order to survive.

Correct answer: (b) welfare

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In a market economy, individuals and businesses own and make most of the decisions about resources. In this type of economy, the people own and control most of the production processes.

Correct answer: (b) market

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In a mixed economy, individuals and governments own and control production together. They both decide how resources will be used, what will be produced and who will buy and use the products.

Correct answer: (b) mixed

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Whether businesses manufacture goods or offer services, all of the money taken in by a business is called revenue.

Correct answer: (c) revenue

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