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7th Chapter

12th Economics Chapter 7 Test

Here you can prepare 12th Economics English Medium Chapter 7 Public Finance Test. Click the button for 100% free full practice test.

2nd Year Economics Chapter 7 Online MCQ Test for 12th Class Economics Chapter 7 (Public Finance)

This online test contains MCQs about following topics:

. Public vs private finance, Public revenue, Tax and not tax revenue, Principles of taxation, Kinds of taxation, Direct and indirect, Progressive and proportional.

ICS Part 2 Economics Ch. 7 Test
ic

2nd Year Economics Chapter 7 Online MCQ Test for 12th Class Economics Chapter 7 (Public Finance)

Sr. # Questions Answers Choice
1 What would encourage trade between two countries.
  • A. Export price to import prices
  • B. Currency values
  • C. Exports to imports
  • D. Balance of trade to balance of payments
2 Pakistan imports some goods and exports other goods primarily because of
  • A. free goods
  • B. comparatie advantage
  • C. Unemployment
  • D. Self sufficiency
3 The government can collect funds from
  • A. Taxes
  • B. Fees
  • C. Prices of public goods
  • D. All the three
4 Govt. prepares its budget
  • A. Weekly
  • B. Monthly
  • C. Quarterly
  • D. Annually
5 Term of trade of country
  • A. Mean agreement between trading countries
  • B. Is another name of exchange ratio of two currencies
  • C. Show the ratio between total export earnings and import bill of a country
  • D. Are determined by teh price index of export and import goods
6 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
7 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
8 International trade is possible primarily thorough.
  • A. Generalization in production of all goods
  • B. Specialization in production of one good
  • C. Specialization in production of a few goods
  • D. Al of the above
9 How the government can meet its expenditure
  • A. By taxing people
  • B. By borrowing from banks and other governments
  • C. By printing new money
  • D. By all the three methods
10 It is drawback of free trade
  • A. Prices of local goods rise
  • B. Government looses income from custom duties
  • C. National resources are underutilized
  • D. a and b of above

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