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Terminology Online Test MCQs With Answers

Question # 1

The term condition refers to:

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Predicting the future

Analysis and synthesis

Thinking or Knowing

Introspection

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Question # 2

Demand pull inflation may be caused by:

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an increase in costs

a reduction in interest rate

a reduction in government spending

an outward shift in aggregate supply

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Question # 3

In the factors for production market what do the house holds sell to the firms?

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Income

Labour

Goods and services

Rent

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Question # 4

Which country is the largest wheat producing country of the world?

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India

China

America

Switzerland

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Question # 5

The first stock exchange in Pakistan was established in

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Lahore

Peshawar

Karachi

Islamabad

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Question # 6

If the price elasticity of demand is unit then a fall in price:

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Reduces revenue

Leaves revenue unchanged

Increases revenue

Reduces costs

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Question # 7

Ageism term coined by:

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H.C. Armstrong

Pearl S.Buck

James Frazer

Robert N.Butler

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Question # 8

When was Common Market for Eastern and Southern African (COMESA) formed?

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1995

1994

1992

1991

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Question # 9

Which is not the characteristic of socialist or planned economy?

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Government is the owner of resources

Production decisions are determined by the government

Profit motive

None of the above

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Question # 10

What is meant by the term, 'Compagnies d'Ordonnance'?

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French tanks of WW1

15th century French cavalry and mounted infantry

French tanks of WW2

French support troops in both world wars

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Question # 11

What is a check representing a portion of the corporate earnings or profits called?

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Dividend

proxy

stock

fringe benefits

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