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12th Class Principles of Economics Chapter 7 Test

12th class I.Com Part 2 Principles of Economics chapter 7 Online MCQs test with answers for Principles of Economics


I.Com Part 2 Principles of Economics
Chapter 7 Test

Start Chapter 7 Test

I.Com Part 2 Principles of Economics Chapter Wise Test
(English Medium)

12th class I.Com Part 2 Principles of Economics chapter 7 Online MCQs test with answers for Principles of Economics

Sr. # Questions Answers Choice
1 Govt. budget is balanced when
  • A. Govt. expenditure outstrips tax receipts
  • B. Govt. tax receipts outstrips expenditure
  • C. Government expenditure equals tax revenue
  • D. None of the above
2 Foreign trade
  • A. Benefits developed countries
  • B. Benefits undeveloped countries
  • C. Benefits democratic countreis
  • D. Benefits all countries
3 Government finance is called
  • A. National finance
  • B. Public finance
  • C. Private finance
  • D. A and b of above
4 Rich countries have deficit in their balance of payments.
  • A. Sometimes
  • B. never
  • C. alternate years
  • D. always
5 To increase exports,.Pakistan must
  • A. improve quality of good
  • B. Decrease the value of its currency
  • C. Import must be controlled
  • D. a and b of the above
6 In foreign trade, Protection policy means.
  • A. restrictions on imports
  • B. Restriction on transfer of foreign exchange
  • C. Restrictions on exports
  • D. all of the above
7 It is direct tax
  • A. Excise tax
  • B. Sales tax
  • C. Income tax
  • D. Custom duty
8 In Pakistan, taxes are levied by
  • A. Prime minister of Pakistan
  • B. President of Pakistan
  • C. Federal cabinet of ministers
  • D. National assembly
9 Govt.Policy about exports and imports is called.
  • A. Monetary policy
  • B. fiscal policy
  • C. Commercial policy
  • D. Finance policy
10 It is drawback of protection
  • A. Consumers have to pay higher prices
  • B. Quality of goods may be affected
  • C. Producers get higher prifits
  • D. All of abvoe

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