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

Question # 1

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 # 2

Theory of omparative advantages was presented.

Ricardo A
Adam Smith B
Hicks C
Arshad D

Question # 3

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 # 4

Ric countries have deficit in their balance of payments

Some times A
Never B
Atternatee years C
Always D

Question # 5

Govt policy about exports and imports is called.

Monetary policy A
Fiscal policy B
Commercial Policy C
Finance policy D

Question # 6

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

Question # 7

What would encourage trade betwene two countries.

Different tax system A
Frontier checks B
National currencies C
Reduce traiff D

Question # 8

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 # 9

Which of the following is international trade

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

Question # 10

Foregn trade creates among countries.

Conficits A
Cooperation B
Hatred C
None D

Question # 11

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 # 12

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

Equal A
Different B
Undertimed C
Decreasing D

Question # 13

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

Free goods A
Comparative advantage B
Unemployment C
Self Sufficiency D

Question # 14

Foreign Trade are

Benefits developed countries A
Benefits underdeveloped countires B
Benefits all countries C
Benefits democretive countries D

Question # 15

Foreign Trade

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

Question # 16

Policy of Protecton in trade

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

Question # 17

Pakistan is not a memebr of

IMF A
ECO B
OPEC C
World Bank D

Sr.#	Question	Answer
1	In foreign trde protection policy means.	A. Restrictions on imports B. Restrictions on exports C. Restriction on transfer of foreign exchagne D. All of the above
2	Trade between two countries can be useful if cost ratios of goods are.	A. Equal B. Different C. Undertimed D. Decreasing
3	Pakistan Importss some goods and exports other goods primarily because of.	A. Free goods B. Comparative advantage C. Unemployment D. Self Sufficiency
4	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
5	A Triff	A. Increase the volume trade B. Reduces the volume of trade C. Has no effect on volume of tradea D. a and c above
6	Ric countries have deficit in their balance of payments	A. Some times B. Never C. Atternatee years D. Always
7	What would encourage trade betwene two countries.	A. Different tax system B. Frontier checks C. National currencies D. Reduce traiff
8	Net exports equal	A. Exports x imports B. Exports + imports C. exports- imports D. None of the above
9	Foreign Trade	A. Increses employment opportunites B. Increases international mobility of labour C. Increases competition D. All of the above
10	Govt policy about exports and imports is called.	A. Monetary policy B. Fiscal policy C. Commercial Policy D. Finance policy

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ICS Part 2 Economics English Medium Chapter 7 Online Test

A Triff

Theory of omparative advantages was presented.

Two countries can gain from foreign trade if

Ric countries have deficit in their balance of payments

Govt policy about exports and imports is called.

All are advantages of oreign trade Except.

What would encourage trade betwene two countries.

International trade and domestic trade fiffer because of.

Which of the following is international trade

Foregn trade creates among countries.

In foreign trde protection policy means.

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

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

Foreign Trade are

Foreign Trade

Policy of Protecton in trade

Pakistan is not a memebr of

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