Principles of Economics Icom Part 1 English Medium Chapter 12 Online Test With Answers

Principles of Economics Icom Part 1 English Medium Chapter 12 Online Test

Sr. # Questions Answers Choice
1 In which of the following condition theory of international trade is presented Monopoly Duopoly Monopolistic competition Perfect competition
2 In comparative cost or comparative advantage theory, ratio is 1x1 one good one country 2x2 two goods two countries 1x2 one good two countries 2x1 two goods one country
3 Absolute advantage theory was presented by Adam Smith Prof Walker Ricardo Marshall
4 Comparative cost theory was presented by Marshall Ricardo Hecksher Ohlin
5 Comparative cost theory is also called Theory of comparison cost Theory of specialization of cost Theory of balanced cost Theory of specialization of production
6 According to classical theory of international trade, a country imports those goods from the other country which Are durable Are standardised Are produced comparatively at high cost Are not produced in that country
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