Terminology MCQs Online Test

Basically, terminology is a discipline that thoroughly studies the "labeling or entitling of concepts" especially to the one or more subject fields or domains of human action. Terminology does this through the research work as well as analysis of terms in context for the objective of documenting as well as promoting consistent usage.

Terminology MCQ's Test

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Terminology MCQ's Test

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Question # 1

The term 'Ethnic' is derived form the ______ word meaning 'nation'

Question # 2

If the minimum wage is set above the equilibrium wage rate then other things unchanged:

Question # 3

Which of the following concepts is not an explanation to why the aggregate demand curve is downward sloping?

Question # 4

Who among he following talked of development tarp'?

Question # 5

AWACS stands for;

Question # 6

An increase in aggregate demand is more likely to lead to demand id more likely to lead to demand pull inflation if:

Question # 7

Normal profit occurs when:

Question # 8

Who among he following gave the concept of 'mass' mind?

Question # 9

Profit is measured by:

Question # 10

According to the utility model of consumer demand the law of diminishing marginal utility indicates that the demand curve is:

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General Knowldge Terminology Important MCQ's

Sr.# Question Answer
1 The first Stock Exchange of the world is
A. Mumbai
B. New York
C. Amsterdam
D. Tokyo
2 Andante is usually described as:
A. Brisk
B. Walking Pace
C. frenzied
D. Slow
3 Land is the only factor of production whose supply is?
A. More Elastic
B. Perfectly Elastic
C. Perfectly Inelastic
D. Unitary Elastic
4 What is a sequence of steps leading to a desired end?
A. Algorithm
B. Hierarchy
C. Ambiguous
D. Sector
5 According to the law of diminishing utility:
A. Utility is a maximum whit the first unit
B. Increase units of consumption increase the marginal utility
C. Marginal product will fall as more units are consumed
D. Total utility will rise at a falling rate as more units are consumed
6 Gross National Income is always more than net national income because it includes:
A. Foreign income
B. Capital consumption allowance
C. Indirect taxes
D. Direct taxes
7 According to Marshall, the basis to consumer surplus is:
A. Law of diminishing marginal utility
B. Law of equimarginal utility
C. Law of proportions
D. All of the above
8 Products that increase  the usefulness or value fo other products?
A. substitutes
B. complements
C. income effects
D. Goods
9 Fire Insurance is based on the principle of
A. Utmost Good faith
B. Insurable interest
C. Indemnity
D. Cooperation
10 When total utility becomes maximum then marginal utility will be:
A. Minimum
B. Average
C. Zero
D. Negative

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