PPSC Economics Chapter 7 Islamic Economics With Answers

PPSC Economics Chapter 7 Islamic Economics

Sr. # Questions Answers Choice
1 Which of the following characteristics if Islamic economic system is true An Islamic state is essentially a welfare state. Ensure social justice All economic problems are solved in the light of moral values All of the above
2 "Zakat" is a charity on. 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
3 In Islam absolute ownership of property lies only with. Government Owner of the property Allah None of these
4 Mudaraba business is administered by the Mudaraba companies and Mudaraba rules . 1990 1980 1981 1978
5 Loss must be shared according to ratio of respective investment in case of. Musharika Hire purchase Mudaraba <br>All of these
6 By death of any partner business will be dissolved in case of Partnership Musharika Hire purchase Mudaraba
7 In 1980 the government of Pakistan promulgated. the Modaraba Ordinance the Musharaika Ordinance. the Zakar ordinance the Ushar ordinence
8 Qara -e- Hasna is normally payable to. Needy persons Poors Helpless All of these
9 The Islamic mode of business where the subscriber participate with the money and the manager with skill and labor is. Qarz -e - hasna Musharika Mudaraba Islamic business
10 Usury is prohibited in Islam only Sikhism only Jewism Both a and b
11 In Islamic economic system holding is considered against the right of. Entrepreneurs Labour Consumers Producers
12 Islam is against Miseries Luxurious spending a and b None of these
13 Conspicuous consumption on unproductive assets and luxurious goods is considered against the concept of. Islamic consumption Taqva is Islam Spending in Islam Islamic production
14 The main monetary tool in Islamic economic system regarding circulation of wealth is zakat it is for. Poor and needy consumers Producers Banks
15 According to Islamic economic system the producers can earn. Normal loss only Normal profit only Abnormal loss Abnormal profit
16 Zakat in an important feature of Islamic economics system which is given from Poor to rich Producers to consumers Banks to people Rich to poor
17 Following is the important feature of the Islamic economic system. Zakat Usher Mudaraba and Musharika All of these
18 Expenditure on unproductive assets are strangely criticized and savings are emphasized by Ibn e Khaldun Ibn e Taimiya Nasiruddin Tosi None of these
19 Forced labor is one of the greatest injustice in the world according to. Imam Abu Yousaf Imam Abu Qasim Khalil Jabran Ibn e Khaldun
20 Ibn-e Khaldun discussed in detail the principles of. Taxation Terms of trade Term of rent Duties of ruler
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