12th class Economics chapter 7 online mcq test with answers for ICS part 2 Economics chapter 7 (Public Finance)

Question # 1

Foregn trade creates among countries.

Conficits A
Cooperation B
Hatred C
None D

Question # 2

Pakistan Importss some goods and exports other goods primarily because of.

Free goods A
Comparative advantage B
Unemployment C
Self Sufficiency D

Question # 3

International trade and domestic trade fiffer because of.

Trade restrictions A
Immobility of factors B
Difference govt Policy C
All of the above D

Question # 4

Theory of omparative advantages was presented.

Ricardo A
Adam Smith B
Hicks C
Arshad D

Question # 5

It Japan and Pakistan start free trade differene in wges in two counties will

Increase A
Decrease B
Double C
No effect D

Question # 6

Trade between two countries can be useful if cost ratios of goods are.

Equal A
Different B
Undertimed C
Decreasing D

Question # 7

Two countries can gain from foreign trade if

Cost ratios are differnet A
Traiff rates are different B
Price ratios are different C
a and c above D

Question # 8

Which of the following is international trade

Trade between provinces A
Trade between countries B
Trade betwene regions C
Trade between continents D

Question # 9

In foreign trde protection policy means.

Restrictions on imports A
Restrictions on exports B
Restriction on transfer of foreign exchagne C
All of the above D

Question # 10

Ric countries have deficit in their balance of payments

Some times A
Never B
Atternatee years C
Always D

Question # 11

A Triff

Increase the volume trade A
Reduces the volume of trade B
Has no effect on volume of tradea C
a and c above D

Question # 12

Foreign Trade

Increses employment opportunites A
Increases international mobility of labour B
Increases competition C
All of the above D

Question # 13

Net exports equal

Exports x imports A
Exports + imports B
exports- imports C
None of the above D

Question # 14

Policy of Protecton in trade

Facilitates trade A
Protects local producers B
Protects foreign producers C
Protects exporters D

Question # 15

What would encorage trade betwene two countries.

Reduced tariffs A
Quality control B
Differente tax system C
Fixing import quotes D

Question # 16

Pakistan is not a memebr of

IMF A
ECO B
OPEC C
World Bank D

Question # 17

All are advantages of oreign trade Except.

People get foreign exchange A
Difference in politicla system B
Difference in markets C
Difference in ideology D

Sr.#	Question	Answer
1	What would encourage trade betwene two countries.	A. Different tax system B. Frontier checks C. National currencies D. Reduce traiff
2	What would encorage trade betwene two countries.	A. Reduced tariffs B. Quality control C. Differente tax system D. Fixing import quotes
3	Theory of omparative advantages was presented.	A. Ricardo B. Adam Smith C. Hicks D. Arshad
4	It Japan and Pakistan start free trade differene in wges in two counties will	A. Increase B. Decrease C. Double D. No effect
5	Pakistan Importss some goods and exports other goods primarily because of.	A. Free goods B. Comparative advantage C. Unemployment D. Self Sufficiency
6	Ric countries have deficit in their balance of payments	A. Some times B. Never C. Atternatee years D. Always
7	Foreign Trade are	A. Benefits developed countries B. Benefits underdeveloped countires C. Benefits all countries D. Benefits democretive countries
8	Govt policy about exports and imports is called.	A. Monetary policy B. Fiscal policy C. Commercial Policy D. Finance policy
9	Net exports equal	A. Exports x imports B. Exports + imports C. exports- imports D. None of the above
10	Two countries can gain from foreign trade if	A. Cost ratios are differnet B. Traiff rates are different C. Price ratios are different D. a and c above

Latest Educational News Stories

Pakistan's Largest Database of Colleges and Universities

BS Programs

University Past Papers

University Results

Exam Results 2024

Study Abroad Programs and Opportunities for Pakistani Students

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

ICS Part 2 Economics English Medium Chapter 7 Test

ICS Part 2 Economics English Medium Chapter Wise MCQ's Test

MCQ's Test For Chapter 0 "ICS Part 2 Economics English Medium Chapter 7 Online Test"

ICS Part 2 Economics English Medium Chapter 7 Online Test