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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 Balance of payments of a country has parts.
  • A. 2
  • B. 3
  • C. 4
  • D. 5
2 Terms of trade of developing countries are generally unfavourable because
  • A. They export primary goods
  • B. They import value added goods
  • C. They export few goods
  • D. A and B of above
3 Visible export include.
  • A. Remittance
  • B. Computer hardware
  • C. Computer software
  • D. transport cost
4 Net exports equal
  • A. Exports x imports
  • B. Exports + imports
  • C. Exports - imports
  • D. Exports of services only
5 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
6 Visible goods are recorded in this part of balance of payments account
  • A. Current account
  • B. Capital account
  • C. Govt. Account
  • D. Official account
7 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
8 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
9 A tariff
  • A. Increases the volume of trade
  • B. Reduces the volume of trade
  • C. Has no effect on volume of trade
  • D. A and C of above
10 In Japanese import more goods from Pakistan.
  • A. Our balance of payments will improve
  • B. Japan's BOP wll deteriorate
  • C. Our BOP will deteriorate
  • D. a and b of above

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