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

Over time the price of primary products tends to fall because:

Question # 2

Which of the following is not an indirect tax?

Question # 3

To anticipate what the economy is going to do next the government will look at:

Question # 4

The resources in the economy do not include:

Question # 5

Market value of all final goods and services produced in a country during a year is definition of

Question # 6

A voluntary association of people formed to carry on some kind of economic activity that will benefit its members?

Question # 7

ICMB stands for:

Question # 8

The concept of disinvestment was introduced by:

Question # 9

Aggregated demand will increases if:

Question # 10

ICAO is another important UN Agency, What does not ICAO stand for?

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General Knowldge Terminology Important MCQ's

Sr.# Question Answer
1 According to the utility model of consumer demand the law of diminishing marginal utility indicates that the demand curve is:
A. Downward sloping
B. U-shaped
C. Upward sloping
D. Vertical
2 The Samuelson Holt formula provides a measure of?
A. Consumer's equilibrium
B. Consumer's surplus
C. Elasticity of demand
D. Marginal utility
3 If the minimum wage is set above the equilibrium wage rate then other things unchanged:
A. There will be equilibrium  in the labour market
B. There will excess demand in the labour
C. There will be excess supply in the labour market
D. More people will be employed
4 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
5 The driving force that encourages people and organizations to improve their material well being is called:
A. Private property
B. Big houses
C. Vacations
D. Profit motive
6 The free market involves:
A. The free provision of products
B. The subsidising of products by the government
C. Market forces of supply and demand
D. All trad via barter
7 When a firm is maximizing profit it will necessarily be:
A. Maximizing profit per unit of ouput
B. Maximizing the difference between total revenue and total cost
C. Minimizing total cost
D. Maximizing total revenue
8 What is the full of the NASA:
A. National Aeronautics and space administration
B. Natural Aeronautics and space administration
C. natural Administration and space administration
D. Natural administration and space agency
9 Marx propounded the theory of class struggle mainly in:
A. The Economic and Political Manuscript
B. The communist Manifesto
C. Das capital
D. The Poverty of Philosophy
10 Barriers to entry do not include:
A. Patents
B. Internal economies of scale
C. Mobility of resources
D. High investment costs

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