First Year Principles of Economics Chapter 13 Online MCQ Test for 1st Year Principles of Economics Chapter 13 (Public Finance and Zakat)

This online test contains MCQs about following topics:

. Definition and meaning of public finance . Canons of taxation . Sources of public revenue . Heads of public expenditure . Kinds of taxes . Zakat and usher . Important opints of definition of zakat

ICOM Part 1 Economics Ch 13 Test
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MCQ's Test For Chapter 13 "Principles of Economics Icom Part 1 English Medium Chapter 13 Online Test"

Try The MCQ's Test For Chapter 13 "Principles of Economics Icom Part 1 English Medium Chapter 13 Online Test"

  • Total Questions15

  • Time Allowed20

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Principles of Economics Icom Part 1 English Medium Chapter 13 Online Test

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Question # 1

Which one of the following is indirect tax

Question # 2

In which phase of Frade cycle level of employment and income becomes very low.

Question # 3

Income and employment are at peak level during:

Question # 4

Branches of public finance are

Question # 5

Zakat is part of the present income

Question # 6

A good thing in private finance

Question # 7

The percentage part of the agricultural produce is payable as Zakat which is irrigated by artificial sources

Question # 8

Total number of canons of taxation stated by different economists is

Question # 9

The percentage part of the mineral production is payable as Zakat on private owners of minerals

Question # 10

Modern theory trade cycle was presented by:

Question # 11

One of the following is not included in the sources of public revenue

Question # 12

Payment of zakat is compulsory for ----------- living in Islamic Country

Question # 13

Private owners of minerals are bound to pay --------- Zakat of their production

Question # 14

In which year international monetary fund was established:

Question # 15

Private individuals are not allowed to fullfil their needs

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11th Principle of Economics Chapter 13 Test

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ICom Part 1 Principles of Economics ( English Medium) Chapter 13 Important MCQ's

Sr.# Question Answer
1 Total number of canons of taxation stated by different economists is
A. Seven
B. Nine
C. Eleven
D. Twelve
2 Monetary theory of trade cycle was given by:
A. Joseph Schumpeter
B. Habson Foster
C. Jevons
D. Hawtray
3 The tax whose burden can be shifted to the customers, is called
A. Proportional tax
B. Progressive tax
C. Direct tax
D. Indirect tax
4 "Public finance deals with governments revenue and expenditure and it studies how government maintains balance between its revenue and expenditures"
This definition is stead by
A. Dalton
B. Armitage Smith
C. Bastable
D. pigou
5 Payment of zakat is compulsory for ----------- living in Islamic Country
A. Every person
B. Every Muslim
C. Only Poor Muslim
D. Only Sahib-e-Nisab Muslim
6 "The study of nature and principles of government expenditures and revenue is called public finance"
This definition is stated by
A. Bastable
B. Armitage Smith
C. Ricardo
D. Robbins
7 The expected rate of profit from a business is known as:
A. Multiplier
B. Accelerator
C. Marginal efficiency of capital
D. Both a and b
8 Government needs public finance
A. For the defence of frontiers
B. To maintain law and order in the country
C. For the payment of salaries of government employees
D. For the welfare of the people
9 The average duration of trade cycle is:
A. Five years
B. Fifty years
C. Twenty years
D. Ten years
10 The percentage part of the agricultural produce is payable as Zakat which is irrigated by artificial sources
A. 5%
B. 10%
C. 15%
D. 20%

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