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This online test contains MCQs about following topics:
. Meaning of international trade . Differnce in international trade and national trade . Importance of international trade . Adam Simth's theory o fabsolute advantage . Assumptions of theory . Criticism of theory . Causes of deficit in balance of payments
ICOM Part 1 Economics Ch 12 Test
ICOM Part 1 English Medium Subjects
ICOM Part 1 Urdu Medium Subjects
MCQ's Test For Chapter 12 "Principles of Economics Icom Part 1 English Medium Chapter 12 Online Test"
Try The MCQ's Test For Chapter 12 "Principles of Economics Icom Part 1 English Medium Chapter 12 Online Test"
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Total Questions15
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Time Allowed20
Principles of Economics Icom Part 1 English Medium Chapter 12 Online Test
00:00
Question # 1
Money which can be converted into cash money is known is:
Question # 2
When general price level increases due to increase in cost of production, it is known as ?
Question # 3
Which one of the following is included in balance of trade
Question # 4
The record of visible and invisible items on international account is called
Question # 5
Which economist has stated the definition of balance of payments
Question # 6
Advantages of international trade are
Question # 7
One of the following is not included in the causes of deficit in balance of payments of a country
Question # 8
Comparative cost theory was presented by
Question # 9
International Monetary fund is
Question # 10
If currency can converted into gold, it is called:
Question # 11
Balance of payment of a country in unfavourable when its
Question # 12
One of the following is not advantage of international trade
Question # 13
The base of international trade theory of Devid Ricardo is
Question # 14
In comparative cost or comparative advantage theory, ratio is
Question # 15
Which one of the following is included in balance of payment
11th Principle of Economics Chapter 12 Test
Here you can prepare 11th Principle of Economics English Medium Chapter 12 International Trade Test. Click the button for 100% free full practice test.
Top Scorers Of Chapter 12 "Principles of Economics Icom Part 1 English Medium Chapter 12 Online Test" MCQ`s Test
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M meeral 26 - Feb - 2021 01 Min 43 Sec 14/15 -
H Hira 02 - Dec - 2018 01 Min 49 Sec 14/15 -
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H hamza abid 07 - Aug - 2021 10 Min 50 Sec 11/15
ICom Part 1 Principles of Economics ( English Medium) Chapter 12 Important MCQ's
| Sr.# | Question | Answer |
|---|---|---|
| 1 | Which economist explained the absolute difference of cost of two good between two countries |
A. Malthus
B. Adam Smith
C. Ricardo
D. J.S Mill
|
| 2 | The trade that takes place between the inhabitants of two countries is called |
A. Domestic trade
B. International trade
C. National trade
D. Regional Trade
|
| 3 | In between how many countries international trade takes place under comparative cost theory |
A. Two
B. Three
C. Four
D. Many
|
| 4 | In order to improve the balance of payment the foremost try is to increase |
A. Imports
B. Exports
C. Production
D. Savings
|
| 5 | When general price level increases due to increase in aggregate demand, it is known as? |
A. Stagflation
B. Hyper inflation
C. Demand pull inflation
D. Cost push inflation
|
| 6 | Balance of payment of a country is favourable when its |
A. Receipts are more than payments
B. Receipts are less than payments
C. Receipts are equal to payments
D. None of three
|
| 7 | International Monetary fund is |
A. Local
B. Regional
C. National
D. International
|
| 8 | The trade that takes place between the individuals living in different areas of a country is called |
A. Domestic trade
B. International trade
C. Foreign trade
D. Regional Trade
|
| 9 | In balance of payment are included |
A. Visible items
B. Invisible items
C. Visible and invisible items
D. Material items
|
| 10 | A system where the goods are exchanged with money is known as: |
A. Monetary system
B. Barter system
C. Coins system
D. Modified system
|
Test Questions
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