1) Which of the following are types of Unemployment? a) structural b) cyclical c) seasonal d) frictional e) fixed 2) What is meant by a good that is a necessity a) a good which everyone needs b) a good which some people need c) a good which nobody needs 3) What is price sensitivity? a) a good which people will pay for leads to a smaller change in demand b) a good that is something that people are allergic to 4) What is a subsitute good? a) one which can be substitued for another b) one which you can swap for another 5) Which of the following is NOT an example of a stakeholder of HSBC Bank a) a saver b) a shareholder c) a Bank mortgage holder d) none of the above 6) Identify ONE negative externality resulting from rising car use in the UK a) development of new models b) increased congestion on UK raods c) increased demand for fuel d) A rise in the cost of public transport 7) Inflation is an increase in a) the size of the economy b) the level of demand in the economy c) level of supply in the economy d) level of prices in the economy

5.1 Business MC

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