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

Menu costs in relation to inflation refer to:

Question # 2

An industry comprised of a very large number of sellers producing a standardized product is known as:

Question # 3

Sometime a doctor orders radiology test, When he writes PCXR, what is he ordering:

Question # 4

A brief story in prose or verse that teaches a moral or gives a pract6ical lesson about how to get along in life is called a:

Question # 5

The Constitutional Government Means:

Question # 6

State Bank of Pakistan was established in:

Question # 7

VPP stands for:

Question # 8

In a cartel member firm may be given be given a fixed amount to produce. This is called a:

Question # 9

Marx borrowed Dialectical Method form:

Question # 10

What is the full form of he NIPA?

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General Knowldge Terminology Important MCQ's

Sr.# Question Answer
1 Who defined "Economics is the Science of Wealth"?
A. J.K Mehta
B. Marshall
C. Adam Smith
D. Robbins
2 'From each  according to his ability, to each according to his need' is the theoretical slogan of which system?
A. Communist system
B. Capitalist system
C. Fascist system
D. None of these
3 What does the term 'Hanseatic League' refer to?
A.  Confederation of towns in the Low countries for Mutual defence 
B. Europe's first international Trades Union 
C. Confederation of Baltic States 
D. A confederation of German (and other ) towns for mutual defence in commerce 
4 What is "Dumping"?
A. The sale of the sub-standard commodity
B. Sale in a foreign market of a commodity at a price below marginal cost
C. Sale in a foreign market of a commodity just at marginal cost without too much of profit
D. Smuggling of goods without paying any customs duty
5 When internal economics of scale occur:
A. Total costs fall
B. Marginal costs increase
C. Average costs fall
D. Revenue falls
6 A paramedic reaches the scene of an automobile accident and says there are two DOAs, is that good or bad?
A. Good
B. Bad
C. Both good and bad
D. None of these
7 The Samuelson Holt formula provides a measure of?
A. Consumer's equilibrium
B. Consumer's surplus
C. Elasticity of demand
D. Marginal utility
8 A significant increase in the government budget deficit is likely to:
A. Reduce injections into the economy
B. Reduce national income
C. Move the economy away from full employment
D. Boost aggregate demand
9 What do the initials SEATO stand for?
A. South-East Asia Treaty Organization
B. South-East Asian telecom Organization
C. South-East Asian Telephone Organization
D. None to the above
10 Ultimate burden of tax is known as
A. Impact
B. Incidence
C. shifting of tax
D. Property tax

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