0

A Business Knowledge Quiz

In a world being flooded with information, it is not easy to know – let alone remember – most information about the environment in which our nation’s 2.1 million businesses operate. Or even maintain perspective.

The following quiz is meant to be a challenging test of our general knowledge. It is too long, arguably too hard, but hopefully educational, if not fun. If you can score half of them right, you will be doing better than most, and are probably way ahead of our politicians.

Do we really know Australia?

Circle the answers you think are correct

World environment

 1. Which nation is the 3rd largest in economic size, as measured by purchasing power parity (PPP)?

A. Japan

B. China

C. Russia

D. India

 2. What is Australia’s world economic ranking in terms of PPP?

A. 9th

B. 19th

C. 29th

D. 39th

3. What is Australia’s world population ranking?

A. 22nd

B. 32nd

C. 52nd

D. 72nd

 4. What proportion of our immigrants, tourists and trade originates in Asia?

A. About a fifth

B. About a quarter

C. About half

D. About three quarters

 

Our resource base

 5. Of Australia’s net worth of $11.5 trillion, what per cent is natural resources?

A. 75%

B. 43%

C. 25%

D. 10%

6. What proportion of Australia’s net worth is in intellectual property (IP)?

A. 1%

B. 3%

C. 8%

D. 11%

 

Our community

 7. What is Australia’s population expected to be at the end of 2016?

A. 22.3 million

B. 23.2 million

C. 24.3 million

D. 25.4 million

 8. Touching hand-to-hand, how many Australians can fit around Australia’s coastline?

A. A quarter of them

B. Half of them

C. All of them

D. All of them, 2 deep

9. If the population of Indonesia stood touching hand-to-hand around Australia’s coastline, they would stand:

A. 4 deep

B. 11 deep

10. If the population of China stood touching hand-to-hand around Australia’s coastline, they would stand:

A. 8 deep

B. 21 deep

C. 58 deep

D. 82 deep

11. Which has the highest population?

A. The ACT

B. Gold Coast

C. Tasmania

D. Newcastle

12. What is the median age of the Australian population expected to be in 2016?

A. 28 years

B. 33 years

C. 38 years

D. 42 years

13. What proportion of Australia’s population was born overseas?

A. 28%

B. 32%

C. 34%

D. 38%

14. What proportion of household income is expected to be spent on retail goods in 2016?

A. 21% and falling

B. 35% and steady

C. 51% and rising

D. 66% and falling

15. In the year 2000, the house price to household income ratio was around 2.75. What is it now?

A. 3.5 and rising

B. 4.5 and steady

C. 5.0 and rising

D. Nearly 6, but heading for a big fall

 16. In terms of the distribution of incomes across households since 2001:

A. Ratios haven’t changed much between the rich, middle class and poor

B. The rich have increased their share at the expense of the middle class and poor

C. The middle class have done best

D. The poor have suffered to the benefit of the rich and middle class

 

Our economic environment

17. Over the past 100 years, Australia’s standard of living (SOL) has:

A. Doubled

B. Trebled

C. More than quintupled (5 times better off)

D. More than septupled (7 times better off)

18. Over the past 50 years since the Industrial Age ended, Australia’s SOL has:

A. Barely increased at all

B. Increased by 1.5 times

C. Increased by 2.7 times

D. Increased by 3.5 times

19. How much does agriculture, fishing and forestry contribute to Australia’s GDP?

A. 2%

B. 10%

C. 25%

D. 38%

20. At its peak in 1960, how much did manufacturing contribute to Australia’s GDP?

A. 18%

B. 29%

C. 38%

D. 52%

21. How much is manufacturing expected to contribute to Australia’s GDP in 2016?

A. 5.9%

B. 9.2%

C. 13.8%

D. 21.3%

 22. By 2030, fewer than 15 years from now, what is likely to be our biggest export?

A. Agriculture

B. Minerals (as now)

C. Rejuvenated manufacturing

D. Services, mainly inbound tourism

 

The marketplace

The marketplace is made up of three components: consumption of goods and services by households and via our taxes; exports; and capital expenditure (including housing).

 23. Consumption expenditure makes up what share of the marketplace?

A. 45%

B. 62%

C. 71%

D. 82%

24. Exports make up what share of the marketplace?

A. 10%

B. 16%

C. 25%

D. 33%

25. Capital expenditure by businesses, government and households (housing) makes up what share of the marketplace?

A. 8%

B. 22%

C. 30%

D. 38%

 

The labour environment

26. How many more jobs were created than lost over the past five years?

A. More jobs were lost than were created

B. About the same

C. Twice as many

D. Eight times as many

27. What has created the most jobs since the end of the Industrial Age in the mid-1960s?

A. Good economic management and more free trade

B. The outsourcing of household chores and activities

C. New technology and telecommunications: IT, the internet, software etc.

D. Fair Work Australia

28. What proportion of Australia’s 12 million strong workforce belongs to a union?

A. 9%

B. 15%

C. 19%

D. 28%

29. Which year had the lowest unemployment (1.1%) after World War II?

A. 1947

B. 1951

C. 1961

D. 2007

30. Which industry is the nation’s biggest employer?

A. Retailing

B. Health and social assistance

C. Manufacturing

D. Construction

 

The services environment

31. What is the value of outsourced tasks that were in-house functions during the Industrial Age?

A. $150 billion per annum

B. $400 billion per annum

C. Over $650 billion per annum

D. Over $1 trillion per annum

 

The finance environment

32. What is the current interest rate on credit cards?

A. 14.75%

B. 16.75%

C. 19.75%

D. 22.75%

 

The government environment

33. What per cent of the 115 years since Federation has the ALP been in power?

A. 28%

B. 37%

C. 41%

D. 49%

34. In which Australian election did a major party last achievea majority of Senate seats?

A. 1958

B. 1977

C. 1980

D. 2004

35. What is Australia’s government net assets (federal & states)?

A. Negative due to deficit spending

B. Close to $650 billion, but falling

C. Bigger than our nation’s GDP at $2 trillion

D. Not officially published

36. What is Australia’s total taxation as a share of GDP in 2016?

A. 25%

B. 28%

C. 33%

D. 41%

37. Australia’s taxation level is:

A. Almost the lowest in the developed world

B. In the middle of the pack of developed nations

C. Heading towards the “nanny state” levels of some socialist economies

D. One of the highest in the developed world

38. Australia’s labour (payroll) taxes and GST are:

A. Low by world standards

B. About average by world standards

C. High by world standards

D. Stifling investment and growth in the economy

 

Our enterprises

39. The proportion of Australian households that have a business is:

A. One in 15

B. One in 12

C. One in 8

D. One in 5

40. Foreign companies’ share of the nation’s $5 trillion revenue in 2016 is:

A. Less than a fifth

B. 24%

C. 31%

D. 41%

 

The Answers

1. D
2. B
3. C
4. D
5. D
6. B
7. C
8. C
9. B
10. C
11. B
12. C
13. A
14. A
15. B
16. A
17. D
18. C
19. A
20. B
21. A
22. D
23. B
24. B
25. B
26. D
27. B
28. B
29. B
30. B
31. C
32. C
33. A
34. C
35. C
36. B
37. A
38. A
39. D
40. A

 

 

 

 

 

 

 

Scoring

2.5 points each correct answer

There are 40 questions, too many and many too hard!
Getting 20 right would be quite knowledgeable about our nation.
If you scored much less, should you be in, or go into, politics?

For a downloadable PDF of this article, please click here.

Comments are closed.