Question # 1

Pakistan is not a memebr of

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IMF

ECO

OPEC

World Bank

Two countries can gain from foreign trade if

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Cost ratios are differnet

Traiff rates are different

Price ratios are different

a and c above

International trade and domestic trade fiffer because of.

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Trade restrictions

Immobility of factors

Difference govt Policy

All of the above

Net exports equal

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Exports x imports

Exports + imports

exports- imports

None of the above

Policy of Protecton in trade

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Facilitates trade

Protects local producers

Protects foreign producers

Protects exporters

All are advantages of oreign trade Except.

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People get foreign exchange

Difference in politicla system

Difference in markets

Difference in ideology

Which of the following is international trade

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Trade between provinces

Trade between countries

Trade betwene regions

Trade between continents

Foregn trade creates among countries.

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Conficits

Cooperation

Hatred

None

Ric countries have deficit in their balance of payments

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Some times

Never

Atternatee years

Always

What would encourage trade betwene two countries.

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Different tax system

Frontier checks

National currencies

Reduce traiff

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Icom Part 2 Principles of Economics Chapter 7 English Medium Online Test MCQs With Answers

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