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8th Chapter

12th Economics Chapter 8 Test

Here you can prepare 12th Economics English Medium Chapter 8 International Trade Test. Click the button for 100% free full practice test.

2nd Year Economics Chapter 8 Online MCQ Test for 12th Class Economics Chapter 8 (International Trade)

This online test contains MCQs about following topics:

. Difference between domestic and foreign trade, Advantages of international trade, Classical theory of international trade, Free trade and protection, Balance of trade vs balance of payments, foreign exchange rate, Fixed and floating exchage, Globalization MNCs, TNCs, WTO, Graphic explanation of trade theory.

ICS Part 2 Economics Ch. 8 Test
ic

2nd Year Economics Chapter 8 Online MCQ Test for 12th Class Economics Chapter 8 (International Trade)

Sr. # Questions Answers Choice
1 Theory of comparative advantage was presented by
  • A. Adam Smith
  • B. Ricardo
  • C. Hicks
  • D. Arshad
2 The receipts and payments for goods exported and imported are counted in
  • A. Trade account
  • B. Capital account
  • C. Current account
  • D. monetary account
3 Fixed exchange rate system has the advantage.
  • A. Automatic adjustment of balance of payments
  • B. Greater govt control over foreign trade
  • C. discourages unnecessary speculation about future trade deals
  • D. b and c of above
4 Foreign trade creates among countries
  • A. Conflicts
  • B. Cooperation
  • C. Harted
  • D. A and b
5 If TOYOTA company, establishes a factory in Pakistan, this will be recorded in balance of payments in the section.
  • A. Capital account
  • B. Visible balance
  • C. Invisible balance
  • D. Official financing
6 Visible import include
  • A. Remittance
  • B. Machineary
  • C. Computer software
  • D. transport cost
7 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
8 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
9 Pakistan exports as percentage GDP are
  • A. 4%
  • B. 8%
  • C. 12%
  • D. 16%
10 According to Hecsher and Ohlin basic cause of international trade is
  • A. Difference in factor endowments
  • B. Difference in markets
  • C. Difference in political system
  • D. Difference in ideology

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