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12th Class Principles of Economics Chapter 8 Test

12th class I.Com Part 2 Principles of Economics chapter 8 Online MCQs test with answers for Principles of Economics


I.Com Part 2 Principles of Economics
Chapter 8 Test

Start Chapter 8 Test

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

12th class I.Com Part 2 Principles of Economics chapter 8 Online MCQs test with answers for Principles of Economics

Sr. # Questions Answers Choice
1 Dumping refers to
  • A. Buying goods at low prices abroad and selling at higher prices locally
  • B. Expensive goods selling for low prices
  • C. Reducing tariffs
  • D. Sale of goods abroad at low a price, below their cost and price in home market
2 Net exports equal
  • A. Exports x imports
  • B. Exports + imports
  • C. Exports - imports
  • D. Exports of services only
3 What would encourage trade between two countries
  • A. Different tax system
  • B. Frontier checks
  • C. National currencies
  • D. reduced tariffs
4 Term of trade of a country show
  • A. Ratio of goods exported and imported
  • B. Ratio of import duties
  • C. Ratio of prices of exports and imports
  • D. A and C of above
5 Balance of payments of country inclueds
  • A. Balance of trade
  • B. Capital receipts and payments
  • C. Saving and investment account
  • D. a and b above
6 Which of the following compares average price of exports to average price of imports?
  • A. Balance of payments
  • B. Balance of trade
  • C. Exchange rate
  • D. Terms of trade
7 All are advantages of foreign trade EXCEPT
  • A. People get foreign exchange
  • B. Nations compete
  • C. Cheaper goods
  • D. Optimum utilisation of country's resources
8 A tariff is
  • A. A restriction on the number of export firms
  • B. Limit on the amount of imported goods
  • C. Tax on imports
  • D. B and C of above
9 Modern theory of international trade is based on the views of
  • A. Robbins and Ricardo
  • B. Adam Smith and Marshall
  • C. Heckcsher and Ohlin
  • D. Saleem and Kareem
10 Exchange rate of currencies is determined by supply and demand in system of
  • A. Fixed exchange rate
  • B. flexible
  • C. constant
  • D. govt. regulated

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