basic of economics MCQs – Page 19

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

basic of economics Mcqs

361. Which country is the chief exporter of Tin ?
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A. Russia

B. China

C. USA

D. Malaysia

362. Which term is used for the value imprinted on a security ?
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A. Par value

B. Net value

C. Real value

D. Gross value

363. Which is the oldest stock exchange of the world ?
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A. London stock exchange

B. Tokyo stock exchange

C. New York stock exchange

D. None of them

364. What is called bankruptcy practitioner appointed by secured creditors to oversee the repayment of debts?
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A. Liquidator

B. Receiver

C. Solicitor

D. Agent

365. The term Dumping means ?
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A. The sale of the sub-standard commodity

B. Smuggling of goods without paying any customs duty

C. Sale in a foreign market of a commodity at a price below marginal cost

D. Sale in a foreign market of a commodity just at marginal cost without too much of profit

366. Investment funds are established for the supports of institutions such as hospitals investment is called ?
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A. Attached funds

B. Endowment funds

C. Charity funds

D. Investment fund

367. To determine the correct level of GNP, it is necessary to ?
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A. Add up all savings

B. To add up the values of goods and services for one year

C. To count all imports

D. To add up the value of semi-finished goods

368. What is defined as the active management of resources to provide the greatest present benefit without comprising the potential benefits to future generations ?
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A. Managed economy

B. None of these

C. Prudent development

D. Sustainable development

369. Different workers or group of workers separate the production works and trade into__________processes. What this separation is called?
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A. Closed shop

B. Divided Labor

C. Open shop

D. Division of Labor

370. Mention the name for that urban and rural region which is closely associated economically with an adjoining town or city. Term is also used to describe the area that is serviced by a port or coastal settlement ?
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A. Parasite land

B. Hinterland

C. Dependent land

D. Country land

371. The term technology refers to______________?
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A. Science based know low

B. Application of science to achieve a commercial or industrial objective

C. Application of modern science in the country

D. All of these

372. What is Tariff ?
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A. tax that government levy on imports

B. tax that government levy on exports

C. Both of them

D. None of them

373. Mention the name for economic theory that the support of business that allows them to flourish will eventually benefit middle- and lower-income people in the form of increased economic activity and reduced unemployment?
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A. Trickle down

B. End benefit

C. Free market

D. Capitalism

374. How is termed the balance of investment and return; in which investment and return are exactly equal ?
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A. Break even

B. Breakeven point

C. Both of them

D. None of them

375. What is referred a group of companies that cooperate and share resources in order to achieve a common objective ?
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A. Incorporation

B. Pool

C. Consortium

D. Conglomerate

376. What do you understand by Laissez faire ?
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A. Active intervention

B. Interference by the state in law and order

C. Sound commercial affairs

D. None of these

377. Economic system in which the government owns and controls the means of production to benefit all the people is called ?
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A. Dictatorship

B. Capitalism

C. Socialism

D. Authoritarianism

378. Which term is used for a bank account which can be operated at will ?
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A. Current account

B. Fixed account

C. Fluctuated account

D. Saving Account

379. Term the covering of a short position by purchasing a long contract, usually resulting from the short of a commodity ?
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A. None of them

B. Drawback

C. Short-positioning

D. Buyback

380. Term the body of goods and monies from which future income can be derived ?
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A. Capital

B. Net assets

C. Solid asset

D. Holdings

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