basic of economics MCQs – Page 14

Practise focused basic of economics questions with marked answers for exam preparation and subject revision.

basic of economics Mcqs
261. Which economics doctrine opposes government regulation or interference in commerce beyond the minimum necessary for a free enterprise system to operate according to its own economics laws and non-interference in affairs of others ?
comments icon0

A. Free market economy

B. Liberal market economy

C. Open market economy

D. Laissez faire also Laisser faire
262. Mention the theory of inflation or price increase that results from so-called excess demand ?
comments icon0

A. Demand curve theory

B. Demand push inflation

C. Demand-pull inflation

D. Cost-push inflation

263. Barter is the trade of goods or services with ?
comments icon0

A. exchange of services

B. free exchange of money

C. exchange of goods and services

D. None of them

264. Account is format banking, brokerage or business relationship established to provide for regular services. dealings and other financial transactions. Which of the following phenomenon(s) are also referred by term, Account ?
comments icon0

A. A precise list or enumeration of financial transactions

B. Money deposited for checking savings or breakage use

C. A customer having business or credit relationship with a firm

D. All of these
265. Term the exclusive right of one or more persons to carry on some branch of trade of manufacture It is a sole power of dealing in something ?
comments icon0

A. Encroachment

B. Monopoly

C. Unipolarity

D. Monotony

266. China is the chief exporter of_______________?
comments icon0
A. Rice

B. Rubber

C. Gold

D. Manganeses

267. Which of the following is not an instrument of monetary policy ?
comments icon0

A. Open-market operations

B. Bank rate

C. Taxation

D. Credit rationing

268. What is called the sequence of economic activity which is typically characterized by recession, fiscal recovery, growth and fiscal decline ?
comments icon0

A. Economic Cycle

B. Business Cycle

C. Cycle Business

D. Complete Cycle

269. Of which minerals chief exporter is Mexico ?
comments icon0

A. Tin

B. Gold

C. Silver

D. Aluminum

270. The French term Bourse refers to_________________?
comments icon0

A. A big company

B. Stock market

C. A multinational company

D. Joint-stock

271. There is an arrangement which allows a firm to use research from another firm at no cost in exchange for executing all of its trades with the firm that provides the research. What this arrangement is called?
comments icon0

A. Bilateral arrangement

B. common interest

C. Mutual arrangement

D. Quid Pro quo
272. What are called goods that satisfy human wants through their direct use ?
comments icon0

A. cash goods

B. cash items

C. consumer goods

D. consumer items

273. What is called the price that a potential buyer is willing to pay for a security ?
comments icon0
A. Bid

B. None of these

C. Quote price

D. Offer price

274. What is called the difference in the money value between exports and imports during the specific period of time ?
comments icon0

A. Balance of payment

B. Balance of trade

C. Terms of trade

D. Balance sheet

275. Which of the following is Price of the last transaction of a particular stock completed during a days trading session on an exchange ?
comments icon0

A. Night Price

B. Closing Price

C. Final price

D. End price

276. A seller of goods or services writes a bill that is submitted to a purchaser for payment. What this bill is called?
comments icon0

A. Demand draft

B. Bill of Intent

C. Invoice

D. Draft

277. What is more likely to be found in a free market economy than in a planned economy ?
comments icon0

A. full employment of labor

B. an incentive to innovate

C. a wide range of public goods

D. an even distribution of income

278. The exchange rate is the ratio at which the currency of one country is exchanged for the currency of another. Which method was developed by the World bank to exchange rates ?
comments icon0
A. Atlas method of exchange rate

B. Open market exchange rate

C. Free market exchange rate

D. Breton Wood method

279. A firm owns long-lived property that is used by a firm in the Production of its income. What this property is called ?
comments icon0

A. Fixed property

B. Unmovable asset

C. Fixed asset

D. Production line

280. Which of the following is indicated by the term unemployed ?
comments icon0

A. Inadequately employed

B. Employed only part time when one needs full time employment

C. Note fully used or employed

D. All of them