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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
Which one of the following is included in balance of trade
Question # 2
The base of international trade theory of Adam Smith is
Question # 3
When general price level increases due to increase in aggregate demand, it is known as?
Question # 4
In which of the following condition theory of international trade is presented
Question # 5
Comparative cost theory is also called
Question # 6
Quantity theory of money was introduced by:
Question # 7
In balance of payment are included
Question # 8
"Money is what money does" is the statements of:
Question # 9
Cheque is which kind of money:
Question # 10
Balance of payment of a country is favourable when its
Question # 11
The trade that takes place between the inhabitants of two countries is called
Question # 12
According to comparative cost theory conditions ------------- in goods and labour market exist
Question # 13
Comparative cost theory was presented by
Question # 14
When there is inflation attached with high unemployment level, it is called ?
Question # 15
Balance of payments is annual statistical record of
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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ICom Part 1 Principles of Economics ( English Medium) Chapter 12 Important MCQ's
| Sr.# | Question | Answer |
|---|---|---|
| 1 | Cheque is which kind of money: |
A. Credit money
B. Paper money
C. Standard money
D. Legal money
|
| 2 | 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
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| 3 | In which of the following condition theory of international trade is presented |
A. Monopoly
B. Duopoly
C. Monopolistic competition
D. Perfect competition
|
| 4 | The record of visible and invisible items on international account is called |
A. Balance of payment
B. Balance of trade
C. Balance of budget
D. Capital account
|
| 5 | In balance of payment are included |
A. Visible items
B. Invisible items
C. Visible and invisible items
D. Material items
|
| 6 | Inflation can be controlled by: |
A. Fiscal policy
B. Monetary policy
C. Trade policy
D. Both a and b
|
| 7 | Which economist has stated the definition of balance of payments |
A. Robbins
B. Kindleberger
C. Marshall
D. Keynes
|
| 8 | 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
|
| 9 | International trade is based on the following except |
A. Different factors of production are required for the production of different goods
B. Factors of production exist in different ratios in different countries
C. Factors of production are in abundant quantity in different countries
D. Factors of production are in limited quantity in different countries
|
| 10 | Advantages of international trade are |
A. One
B. Two
C. Three
D. Many
|
Test Questions