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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
One of the following is not disadvantage of international trade
Question # 2
In comparative cost or comparative advantage theory, ratio is
Question # 3
Comparative cost theory was presented by
Question # 4
Which one of the following is included in balance of payment
Question # 5
In balance of payment are included
Question # 6
Quantity theory of money was introduced in an equation by:
Question # 7
In which of the following condition theory of international trade is presented
Question # 8
In order to improve the balance of payment the foremost try is to increase
Question # 9
The term "inflation" means:
Question # 10
The most appropriate definition of money was given by:
Question # 11
Absolute advantage theory was presented by
Question # 12
" International balance of payment is all that transaction for which either foreign exchange is spent or received." This definition is stated by
Question # 13
Which economist has stated the definition of balance of payments
Question # 14
The systematic record of the money value of visible exports and visible imports of one year of country is called
Question # 15
International Monetary fund is
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.
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A Ali hamza 25 - Dec - 2018 03 Min 09 Sec 10/15
| Sr.# | Question | Answer |
|---|---|---|
| 1 | Which economist has stated the definition of balance of payments |
A. Robbins
B. Kindleberger
C. Marshall
D. Keynes
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| 2 | In which of the following condition theory of international trade is presented |
A. Monopoly
B. Duopoly
C. Monopolistic competition
D. Perfect competition
|
| 3 | If currency can converted into gold, it is called: |
A. Convertible paper money
B. Inconvertible paper money
C. Bank Money
D. Both a and b
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| 4 | If the face value of a coin is greater than the value of metal used in: |
A. Legal money
B. Token money
C. Standard money
D. Both b and c
|
| 5 | One of the following is invisible item of balance of payment |
A. Import of motor cars
B. Exports of cotton
C. Expenditure of passengers traveling by air
D. Private investment in foreign country
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| 6 | According to comparative cost theory conditions ------------- in goods and labour market exist |
A. of monopoly
B. of duopoly
C. Monopolistic competition
D. of perfect competition
|
| 7 | The base of international trade theory of Devid Ricardo is |
A. Absolute advantage
B. Comparative cost
C. Cheaper cost
D. Low cost
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| 8 | In case of international trade, trade restrictions are usually |
A. Limited
B. More
C. Too much
D. None of three
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| 9 | Advantages of international trade are |
A. One
B. Two
C. Three
D. Many
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| 10 | Balance of payment of a country in unfavourable when its |
A. Receipts are more than payments
B. Receipts are less than payments
C. Receipts are equal to payments
D. None of three
|
Test Questions
