I.Com part 2 Principles of Economics Chapter 2 Short Question Preparation

12th Class Principles of Economics
Chapter 2

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12th Class Principles of Economics Chapter Wise Preparation

Online Short Questions For Chapter 2 "ICom Part 2 Principles of Economics Chapter 2 Short Questions Preparation "

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  • Total Questions10

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Economics - ICom Part 2 Principles of Economics Chapter 2 Short Questions Preparation

Question # 1

Defeine money in the words of Prof. Crowther.

  • Ans 1: Anything whihc is generally accepted as a medium of exchange and also performs functions of a standard of value and a store of value is money
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Prepare Complete Set Wise Questions For Chapter 2 "ICom Part 2 Principles of Economics Chapter 2 Short Questions Preparation "

ICom Part 2 Principles of Economics Chapter 2 Short Questions Preparation - Set 1

Question # 1

Defeine money in the words of Prof. Crowther.

  • Ans 1: Anything whihc is generally accepted as a medium of exchange and also performs functions of a standard of value and a store of value is money
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ICom Part 2 Principles of Economics Chapter 2 Short Questions Preparation - Set 2

Question # 1

Write time period of bill of exchange and kinds of bill of exchage.

  • Ans 1: 1- sight bill of exchange 2- Time bill of exchange
    3- Domestic bill of exchange 4- Foreign bill of exchange
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ICom Part 2 Principles of Economics Chapter 2 Short Questions Preparation - Set 3

Question # 1

What is credit card.

  • Ans 1: This is a modern kind of credit money. Bank issues credit card to its account holder on his desire. Credit card holder cna buy goods on credit according to the amount written on the card fromt he shop and firms specified by the abnk without making cash payment.
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ICom Part 2 Principles of Economics Chapter 2 Short Questions Preparation - Set 4

Question # 1

State motives of demand for money.

  • Ans 1: 1- House hold motive 2- Business motive
  • Ans 2: 3- Precautionary motive 4- Speculative motive
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ICom Part 2 Principles of Economics Chapter 2 Short Questions Preparation - Set 5

Question # 1

Define centrla bank

  • Ans 1: Every country has its own central bank.this bank has the monopoly of note issue in the country. It is responsible to stablise the value of money in the country.
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ICom Part 2 Principles of Economics Chapter 2 Short Questions Preparation - Set 6

Question # 1

Define Interest.

  • Ans 1: The word Riba is used for intrest in the Holy Quran. Riba means additional amount of money whihc a lender receives from borrower besides principal amount after a particualr period of time. So, interest is not reward of any thing rather is reward of particualr period of time for whihc borrower has received loan.
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12th Principles of Economics Chapter 2 Preparation

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