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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
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Question # 1
The systematic record of visible and invisible exports and imports of a country in one year is called
Question # 2
If the face value of a coin is equal to the value of metal used in:
Question # 3
According to classical theory of international trade, a country imports those goods from the other country which
Question # 4
In which of the following condition theory of international trade is presented
Question # 5
Foreign exchange is used in
Question # 6
One of the following is invisible item of balance of payment
Question # 7
A system where the goods are exchanged with money is known as:
Question # 8
Quantity theory of money was criticized by:
Question # 9
One of the following is not disadvantage of international trade
Question # 10
When there is inflation attached with high unemployment level, it is called ?
Question # 11
According to comparative cost theory conditions ------------- in goods and labour market exist
Question # 12
Money which can be converted into cash money is known is:
Question # 13
One of the following is not advantage of international trade
Question # 14
The exchange of goods and services from country to country is called
Question # 15
If currency can converted into gold, it is called:
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 Hira 14 - May - 2018 04 Min 25 Sec 14/15 -
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M Maham 07 - Dec - 2020 02 Min 52 Sec 11/15 -
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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 | 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
|
| 2 | The relation between quantity of money and price is: |
A. Positive
B. Negative
C. Direct
D. Inverse
|
| 3 | When general price level increases due to increase in cost of production, it is known as ? |
A. Stagflation
B. Hyper inflation
C. Demand pull inflation
D. Cost push inflation
|
| 4 | International Monetary fund is |
A. Local
B. Regional
C. National
D. International
|
| 5 | In case of international trade, trade restrictions are usually |
A. Limited
B. More
C. Too much
D. None of three
|
| 6 | Which one of the following is included in balance of trade |
A. Visible goods
B. Invisible goods
C. Visible & invisible goods
D. All the three
|
| 7 | A system where the goods are exchanged with money is known as: |
A. Monetary system
B. Barter system
C. Coins system
D. Modified system
|
| 8 | Because of devaluation of currency of a country, its exports |
A. Decrease
B. Increase
C. Remains constant
D. Go on changing
|
| 9 | 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
|
| 10 | In comparative cost or comparative advantage theory, ratio is |
A. 1x1 one good one country
B. 2x2 two goods two countries
C. 1x2 one good two countries
D. 2x1 two goods one country
|
Test Questions
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