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PPSC Economics Chapter 7 Islamic Economics MCQs With Answers

Question # 1

In Islam absolute ownership of property lies only with.

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Government

Owner of the property

Allah

None of these

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Question # 2

"Zakat" is a charity on.

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Wealth / income which stays with a Muslim for at least one year

Levied on a Muslim who is sahib e Nisab

Deducted at the rate of 2.5% of the income

All of the above

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Question # 3

The Islamic mode of business where the subscriber participate with the money and the manager with skill and labor is.

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Qarz -e - hasna

Musharika

Mudaraba

Islamic business

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Question # 4

Zakat in an important feature of Islamic economics system which is given from

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Poor to rich

Producers to consumers

Banks to people

Rich to poor

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Question # 5

Qara -e- Hasna is normally payable to.

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Needy persons

Poors

Helpless

All of these

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Question # 6

Islam is against

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Miseries

Luxurious spending

a and b

None of these

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Question # 7

In Islamic economic system following means of gaining wealth are permitted

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smuggling

Hoarding

Gambling

None of these

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Question # 8

The renowned economist and Islamic scholar who applied principles of politics economics was.

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Imam Abu Haneefa

ibn e Khaldun

Imam Abu Yousaf

Abu Qasim

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Question # 9

The main monetary tool in Islamic economic system regarding circulation of wealth is zakat it is for.

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Poor and needy

consumers

Producers

Banks

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