This quiz works best with JavaScript enabled. Home > Class 12 > Class 12 Entrepreneurship Chapter 6 Government Policies And Support To Entrepreneurship – Quiz 9 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Class 12 Entrepreneurship Chapter 6 Government Policies And Support To Entrepreneurship Quiz 9 (25 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Which of the following is NOT a characteristic of a purely capitalist system? A) Ownership of private property is encouraged. B) Private citizens control production and own businesses. C) The government makes all economic decisions. D) Market forces set prices rather than the government. Show Answer Correct Answer: C) The government makes all economic decisions. 2. Which core principle is valued in Texas' political culture, promoting entrepreneurship and free markets? A) Limited government intervention. B) Economic liberty. C) Populism. D) Republican form of government. Show Answer Correct Answer: B) Economic liberty. 3. Which of the following schemes provides financial support to women entrepreneurs for starting small businesses? A) Pradhan Mantri Fasal Bima Yojana. B) Mahila E-Haat. C) Atal Innovation Mission. D) Digital India. Show Answer Correct Answer: B) Mahila E-Haat. 4. The regulation of businesses by the government is important to: A) Discourage innovation and competition. B) Ensure ethical practices and consumer protection. C) Increase the cost of living. D) Reduce the variety of products in the market. Show Answer Correct Answer: B) Ensure ethical practices and consumer protection. 5. After a recession it is often common to see an increase in the exchange rate. The effect of such event are ..... A) Increase in consumption. B) Increase in investment. C) Increase in government spending. D) Increase in the net exports. E) None of the above. Show Answer Correct Answer: D) Increase in the net exports. 6. People who believed slavery was wrong and tried to stop it. A) Secede. B) Habeas Corpus. C) Abolitionists. D) State's rights. Show Answer Correct Answer: C) Abolitionists. 7. Consumer protection laws are designed to: A) Increase the profits of businesses. B) Protect the interests of the government. C) Safeguard consumers from unfair business practices. D) Limit the choices available to consumers. Show Answer Correct Answer: C) Safeguard consumers from unfair business practices. 8. A country is considering economic reforms to improve living standards. Use reasoning and evidence to analyze how capitalism and the free market could help achieve this goal. A) By encouraging innovation, competition, and consumer choice, which can raise living standards. B) By increasing government control over all businesses. C) By limiting private ownership. D) By reducing the number of available goods and services. Show Answer Correct Answer: A) By encouraging innovation, competition, and consumer choice, which can raise living standards. 9. In times of a recession with a decrease in economic activity and an increase of unemployment companies would react best if the government ..... A) Worries about inflation and tighten their monetary policy. B) Reduces their debt and expenditures. C) Estimulate the economy with higher taxes. D) Estimulates the economy with lower taxes. E) Reduces the exchange rate. Show Answer Correct Answer: D) Estimulates the economy with lower taxes. 10. A tax on the earnings from an investment when you sell it. A) Income Tax. B) Estate Tax. C) Capital Gains Tax. D) Corporate Profit Tax. Show Answer Correct Answer: C) Capital Gains Tax. 11. Which of the following statements is true regarding the "Mudra Yojana" scheme for women entrepreneurs? A) It only supports men in business. B) It provides financial assistance up to ₹ 10 lakh. C) It promotes only service-oriented businesses. D) Women can avail loans under all three categories:Shishu, Kishore, and Tarun. Show Answer Correct Answer: D) Women can avail loans under all three categories:Shishu, Kishore, and Tarun. 12. Which branch of the government is responsible for the development and implementation of U.S. trade policy? A) Legislative Branch. B) Judicial Branch. C) Executive Branch. D) State Branch. Show Answer Correct Answer: C) Executive Branch. 13. Which of the following is an example of a regulatory policy? A) Distribution of tax revenue. B) Industrial safety and quality regulation. C) Trade relations. D) Banking regulation. Show Answer Correct Answer: B) Industrial safety and quality regulation. 14. Which policy would result in economic expansion? A) Raise Interest Rates. B) Lower Interest Rates. C) Increase Taxes. D) Decrease Government Spending. Show Answer Correct Answer: B) Lower Interest Rates. 15. Act made it a federal law that all runaway slaves MUST be returned to their owners in the south. A) Compromise of 1850. B) Dred Scott Decision. C) Fugitive Slave Act. D) Kansas-Nebraska Act. Show Answer Correct Answer: C) Fugitive Slave Act. 16. In what years did the protection policy take place? A) 1972-2005. B) 1869 to 1937. C) 1965 to 1972. D) 1950-1965. Show Answer Correct Answer: B) 1869 to 1937. 17. Which of the following fiscal policy tools would decrease national debt? A) Increase Spending. B) Increase Taxes. C) Decreased Taxes. D) Increase Money Supply. Show Answer Correct Answer: B) Increase Taxes. 18. California was admitted into the Union, Utah and New Mexico were able to choose (free or slave state), and settled border disputes from war with Mexico. A) Dred Scott Decision. B) Kansas-Nebraska Act. C) Missouri Compromise. D) Compromise of 1850. Show Answer Correct Answer: D) Compromise of 1850. 19. If the government spends more money than it collects in revenues, which of the following will occur. A) A balanced budget. B) A budget deficit (increase in debt). C) A budget surplus (extra revenue). D) Discount Rate. Show Answer Correct Answer: B) A budget deficit (increase in debt). 20. If the government is concerned about unemployment, which measure would they use? A) Increase Spending. B) Increase discount rate. C) Increase taxes. D) Increase money supply. Show Answer Correct Answer: A) Increase Spending. 21. Which is a is the rate at which commercial banks borrow funds from the Central Bank of the country? A) Discount rate. B) Interest on excess reserves. C) All the above. D) None of the above. Show Answer Correct Answer: A) Discount rate. 22. How do governments typically regulate businesses to ensure fair practices? A) By providing unlimited grants to businesses. B) By enforcing laws and standards that protect consumers. C) By participating directly in business operations. D) By eliminating all forms of taxes. Show Answer Correct Answer: B) By enforcing laws and standards that protect consumers. 23. Required Reserve Ratio A) The interest rate that banks pay to borrow money from the Fed. B) Difference between spending and revenue each year. C) The amount of money that a bank must keep on hand, and cannot loan out. D) Money that a lender charges in order to borrow money. Show Answer Correct Answer: C) The amount of money that a bank must keep on hand, and cannot loan out. 24. Deficit A) A plan for money the government will spend. B) Difference between spending and revenue each year. C) A person's ability to buy products with a certain amount of money. D) Amount of money the government makes per year. Show Answer Correct Answer: B) Difference between spending and revenue each year. 25. Which violent event from 1859 made people question if violence was necessary to end slavery? A) Firing on Fort Sumter. B) Bleeding Kansas. C) The war with border ruffians. D) Raid on Harpers Ferry. 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