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This online test contains MCQs about following topics:
. Barter system . Evolution of money . Definition of moeny . Assumptiond of quantity theory of money . Criticism on quantity theory of money . Inflation . Deflation . Measures to control inflation . Measures to control deflation
ICOM Part 1 Economics Ch 10 Test
ICOM Part 1 English Medium Subjects
ICOM Part 1 Urdu Medium Subjects
MCQ's Test For Chapter 10 "Principles of Economics Icom Part 1 English Medium Chapter 10 Online Test"
Try The MCQ's Test For Chapter 10 "Principles of Economics Icom Part 1 English Medium Chapter 10 Online Test"
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Total Questions15
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Time Allowed20
Principles of Economics Icom Part 1 English Medium Chapter 10 Online Test
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Question # 1
The money whose face value is greater than its intrinsic value, is called
Question # 2
According to quantity theory of money, if quantity of money is doubled then prices are doubled while value of money is
Question # 3
Note of 500 rupees is
Question # 4
Quantity theory of money was criticised by
Question # 5
Prof Fisher presented quantity theory of money in the form of an equation in
Question # 6
It was impossible under barter system
Question # 7
One rupee note in paper money is
Question # 8
Unit of account money in Pakistan is
Question # 9
Inconvertible paper money is issued by
Question # 10
The paper notes which can not be converted in gold, silver, or foreign exchange, are called
Question # 11
Cheque, bill of exchange etc are
Question # 12
The main cause of using the Cheque as money is
Question # 13
"Anything which is generally accepted as a medium of exchange and also performs the functions of standard of value and a store of value is money"
"Anything which is generally accepted as a medium of exchange and also performs the functions of standard of value and a store of value is money"
This definition of money is stated by
Question # 14
This paper notes which can be converted into gold, silver or foreign exchange are called
Question # 15
The unit of money by which the value of goods and services is expressed is called
11th Principle of Economics Chapter 10 Test
Here you can prepare 11th Principle of Economics English Medium Chapter 10 Money Test. Click the button for 100% free full practice test.
Top Scorers Of Chapter 10 "Principles of Economics Icom Part 1 English Medium Chapter 10 Online Test" MCQ`s Test
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M Minahil Asif 07 - Jun - 2024 01 Min 21 Sec 15/15 -
J Jaweria Faraz 11 - Jul - 2024 02 Min 33 Sec 15/15 -
A Aliya hassan 05 - Dec - 2020 03 Min 01 Sec 15/15 -
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S Subtain Ahmed Raza 22 - Jul - 2023 03 Min 31 Sec 13/15 -
M Muhammad Hammad Shekhani 28 - Jun - 2021 10 Min 43 Sec 13/15 -
S shafaqat ali 14 - Feb - 2018 03 Min 39 Sec 12/15 -
Z Zafar Ali 30 - May - 2024 00 Min 11 Sec 11/15 -
E Elsa 04 - Mar - 2021 02 Min 26 Sec 11/15 -
S Saba 24 - Jun - 2021 04 Min 34 Sec 11/15 -
A Aiman 12 - May - 2018 07 Min 46 Sec 11/15 -
M Manan Malik 12 - Jan - 2022 02 Min 07 Sec 10/15 -
M Muhammad Abrar 25 - Dec - 2020 03 Min 28 Sec 10/15
ICom Part 1 Principles of Economics ( English Medium) Chapter 10 Important MCQ's
| Sr.# | Question | Answer |
|---|---|---|
| 1 | According to quantity theory of money one halving the quantity of money prices |
A. Increase
B. Double
C. Decrease
D. One half
|
| 2 | MRP curve of a factor represents: |
A. Demand of factors
B. Supply of factors
C. Price of factors
D. Both a and c
|
| 3 |
Inconvertible paper money is issued by
|
A. Central bank
B. Commercial bank
C. Industrial bank
D. Central government
|
| 4 | Convertible paper money is issued by |
A. Central bank
B. Commercial bank
C. Industrial bank
D. Central government
|
| 5 | The money in which payment can be made only to certain extent is called |
A. Unlimited legal tender money
B. Limited legal tender money
C. Metallic money
D. Paper money
|
| 6 | The paper notes which can not be converted in gold, silver, or foreign exchange, are called |
A. Standard money
B. Convertible paper money
C. Inconvertible paper money
D. Legal tender money
|
| 7 | Prof Fisher presented quantity theory of money in the form of an equation in |
A. 1905
B. 1911
C. 1915
D. 1917
|
| 8 | Which one of the following does not exist during deflation |
A. Production decreases
B. Value of money increases
C. Supply of goods and services increases from their demand
D. Level of employment increases
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| 9 | What effects are expected on the purchasing power of money during deflation |
A. Decreases
B. Increases
C. Remains constant
D. 2nd and 3rd
|
| 10 | Inflation will be useful for |
A. Labourers
B. Consumers
C. Penioners
D. Industrialist
|
Test Questions
