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

Who developed the innovation theory of profit?

Question # 2

What is meant by the term meritocracy?

Question # 3

When a firm is maximizing profit it will necessarily be:

Question # 4

According to Marshall, the basis to consumer surplus is:

Question # 5

Cross-price elasticity measures whether:

Question # 6

When the rate of money inflation increase then the prices of commodities?

Question # 7

What is a rug?

Question # 8

If you doctor ordered and EKG or ECG, What part of Your body Would be tested:

Question # 9

Which of the following is not a way of helping developing economies?

Question # 10

A governmental agency that has the abbreviation of FDA is what:

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General Knowldge Terminology Important MCQ's

Sr.# Question Answer
1 An individual whose attitude towards is known as:
A. Risk averse
B. Risk loving
C. Risk neutral
D. None of them
2 What is meant by the term meritocracy?
A. People achieving via merit
B. People achieving Via accident of birth
C. People achieving because of who they know
D. None of these
3 What does the term 'Bear hall putsch' refer to?
A. A riot during the 1969 Munich Beer fest
B. Adolf Hitler's attempt to size power in Bavaria
C. Paul von Hindenburg's siezure ofo power of the Weimar Republic 
D. Ranee of payaso's march on Cuzcatlan
4 Which of these is an example of hindsight?
A. Reading about the outbreak of WWII and then saying Europe should have stood up to Hitler at the Munich Conference
B. Thinking you have an important history exam but as there is no future in history you don't bother revising
C. Planning your day extremely carefully thinking about the potential outcome of each and every event
D. None of these
5 Whose opinions have revolutionized the scope of macro economics?
A. Adam Smith
B. J.B Say
C. J,M Keynes
D. All of the above
6 In which of the following industry structures is the entry of new firms the most difficult?
A. Pure monopoly
B. Oligopoly
C. Monopolistic competition
D. Pure competiton
7 Normal profit occurs when:
A. Average revenue equals average variable cost
B. Marginal revenue equals marginal cost
C. Average revenue equals marginal cost
D. Average revenue equals average cost
8 Who theory advocates only night watchman role of the state?
A. Welfare state theory
B. Liberal Theory
C. Socialist Theory
D. Idealist Theory
9 Say's law of Markets states that:
A. Demand creates its own supply
B. Supply creates its own demand
C. Demand creates its own demand
D. Supply creates its own supply
10 NTC is the abbreviation of which organization;
A. National Tobacco company
B. National Tea company
C. National Tea corporation
D. National Textile corporation

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