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 resources in the economy do not include:

Question # 2

If the cross price elasticity of demand between two goods X and Y is positive it means that goods are:

Question # 3

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

Question # 4

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

Question # 5

Which property the paper money does not possess

Question # 6

who among the following is associated with the Iron Law of Oligarchy?

Question # 7

In traditional economic theory four types of markets are identified. Which of the following is not one of them?

Question # 8

GEAC is an important organization in India, What is its full form?

Question # 9

Under new GATT agreements textile trade related to Multi- Fiber Arrangement (MFA) has to be abolished within?

Question # 10

What is the meaning of term ''oilgopoly''?

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General Knowldge Terminology Important MCQ's

Sr.# Question Answer
1 If the cross price elasticity of demand between two goods X and Y is positive it means that goods are:
A. Independent
B. Complements
C. Substitutes
D. Inferior
2 The term 'Ethnic' is derived form the ______ word meaning 'nation'
A. Latin
B. Greek
C. Malayalee
D. Polynesian
3 Which of the following country's economy is know as high economy?
A. America
B. U.K
C. Singapore
D. All of these
4 Who coined the term of Ageism?
A. H.C. Armstrong
B. Pearl S. Buck
C. James Frazer
D. Robert N Butler
5 A simple correlation can defined as the tendency of?
A. Independent variation
B. Dependent variation
C. Simultaneous variation
D. Instantaneous variation
6 What is the meaning of term ''oilgopoly''?
A. A one-firm Industry.
B. Many producers of a differentiated.
C. A few firms producers of a differentiated product.
D. None of these
7 Increase in fixed asset due to purchase is
A. Source of fund
B. Fund from operation
C. Use of fund
D. None of the above
8 Economic development is measured on the basis of
A. Increase in nominal GNP
B. Increase in real GNP
C. Increase in personal incomes
D. Increase in government revenue
9 The measure of the degree of association between the values of two random variables is called?
A. Correlation
B. Association
C. Regression
D. Co-variance
10 Who among the following was the first to propound the Pluralistic Theory of Sovereignty?
A. H.J.Laski
B. Jean Bodin
C. Otto Von Gierke
D. Maclver

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