basic of economics MCQs – Page 22

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

basic of economics Mcqs
421. Cost of production plus a fixed rate of profit is called ?
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A. Cost effective

B. Consumer price

C. cost plus

D. End price

422. What is called that executive who is brought in to turn a company around and make it profitable ?
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A. Super manager

B. Company doctor

C. Manager doctor

D. Savior

423. Crop grown for sale is called?
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A. Business Crop

B. Earning Crop

C. Cash crop

D. Money Crop

424. Name the organization in which people are associated together for a common purpose under a common name. This organization is recognized and created by law ?
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A. Cooperative

B. Corporation

C. Limited Company

D. Company

425. The term Remittance refers to_______________?
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A. Sending of money to someone at distance

B. The sum of money sent

C. Both of them

D. None of them

426. In which capacity does a person stand to gain from deflation ?
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A. As a pensioner

B. As a debtor

C. As an entrepreneur

D. As an equity-holder

427. The amount that is paid for carriage of goods by chips, railways, airways etc is called ?
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A. Rent

B. Freight

C. Hire and Fire

D. Transportation Changes

428. Which of the following is called a wholly or partially owned company what is the part of the large corporation?
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A. Small holding

B. Baby company

C. Subsidiary

D. Child company
429. Which of the following payment instruments introduced by the banks is known as plastic money ?
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A. Demand Drafts

B. Bearer cheques

C. Credit Cards

D. Gift Cheques

430. Which situation will a country face, if the birth rate falls sharply, while the death rate remains unchanged ?
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A. a more youthful population

B. an ageing population

C. a fall in living standards

D. an increase in population

431. Forex stands for ?
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A. For examine

B. Foreign exports

C. None of these

D. Foreign exchange
432. By Which scale the value of all economic activity produced by a nation during a given period is measured ?
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A. Gross National output

B. Gross National Product (GNP)

C. Gross National output (GNO)

D. Gross Domestic Product (GOP)

433. What is referred by interest ?
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A. payment made for the use of banks money

B. Share in profit

C. Payment made for the use of another persons money

D. Devaluation in the currency

434. What is called the result of a states borrowing from its population, from foreign governments or from international institutions ?
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A. National debt

B. Public debt

C. Both of them

D. None of them

435. Which country is the chief exporter of coffee?
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A. Brazil

B. USA

C. Mexico

D. Australia

436. What is mortgage______________?
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A. Guarantee for debt

B. Conveyance of company security for debt

C. Assurance of debt repayment

D. Conveyance of property as security for debt
437. Pakistan follows the policy of_______________?
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A. controlled exchange rate

B. Fixed exchange rate

C. Flexible exchange rate

D. Increasing exchange rate

438. What is called that bank which regularly accepts foreign currency-denominated deposits and makes foreign currency-denominated deposits and makes foreign currency loans ?
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A. Multinational Bank

B. Foreign bank

C. International Bank

D. Eurobank