I.Com part 2 Principles of Economics Chapter 3 Short Question Preparation

12th Class Principles of Economics
Chapter 3

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12th Class Principles of Economics Chapter Wise Preparation

Chapter 1
Chapter 2
Chapter 3
Chapter 4
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Chapter 6
Chapter 7
Chapter 8
Chapter 9
Chapter 10
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Online Short Questions For Chapter 3 "ICom Part 2 Principles of Economics Chapter 3 Short Questions Preparation "

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Economics - ICom Part 2 Principles of Economics Chapter 3 Short Questions Preparation

Question # 1

What are profit.

Ans 1: In Islam intrest in prohibited So, the Islamic countries where intrest free banking is in operation banks accept profit and loss sharing depostis instead of saving deposnts.

Question # 2

What is saving bank.

Ans 1: These are banks which receive savings of the people as deposits and pay higher intrest rate than the current interest rate.They do not advance loans to the people rather give the whole collected amount to governemnt. In Pakistan national savings centers and post offices are operating as saving banks.

Question # 3

What are demand deposits.

Ans 1: These are teh deposits which can be demanded back at any time. Geneally business people deposit their amounts in the account of demand deposits so that they may draw money whenever they are in need of it for business affairs, Bank cannot use these deposits for davancing loans. So, bank does not pay intrest on these depostis.

Question # 4

Which bank have been privatized from the nationalized banks.

Ans 1: 1- Habib Nnak Limited 2- United Bank Limited
3- Muslim Commercial bank limited 4- Allied bank limited

Question # 5

Write kinds of commercial bank.

Ans 1: 1- Scheduled bank 2- Non - Scheduled bank

Question # 6

What are time deposits.

Ans 1: These are teh depostis which are depostied with the bank for a fiexed period, Bank invests these depostis in some business for a fixex period or lends. So, it pays intrest comparatively at higher rate. However, if a depositor is in severe need of money, he cna draw after serving a notice in advance to the abnk but in this situation bank retruns. the pricnipal amount only land does ot pay any interest.

Question # 7

When did the govt of Pakistan issue ordiane of nationalization of banks.

Ans 1: On 31st Decemebr 1973

Question # 8

What is bank.

Ans 1: Banks is financial institution which receives deposits of the people. People deposit their surplus moneyin bank Bnak pays intrest at low rate on these depsoits, It lend major part of these deposits to needy enterpreneurs and business men and recievies intrest comparatively at higher rate from its borrows.

Question # 9

What is over draft and banking system.

Ans 1: The amount of money which a bank allows its customer to draw over and above his own deposit is called over draft in banking system.

Question # 10

What is Foreign Exchang bank.

Ans 1: These banks perform the function of exchange of currencies of differnet countries Dut to this transcactions in international trade become easy. These banks provide finaincial resoruces to the importers and exporters by discounting foreign bills of exchange. These banks issue drats also for foreign payments. In pakistna foreign banks Americna express, National and Grindlays bank. Chartered bank etc. are foreign exchange bank

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Prepare Complete Set Wise Questions For Chapter 3 "ICom Part 2 Principles of Economics Chapter 3 Short Questions Preparation "

Set 1

10 Questions
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Set 2

10 Questions
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ICom Part 2 Principles of Economics Chapter 3 Short Questions Preparation - Set 1

Question # 1

What are profit.

Ans 1: In Islam intrest in prohibited So, the Islamic countries where intrest free banking is in operation banks accept profit and loss sharing depostis instead of saving deposnts.

Question # 2

What is saving bank.

Ans 1: These are banks which receive savings of the people as deposits and pay higher intrest rate than the current interest rate.They do not advance loans to the people rather give the whole collected amount to governemnt. In Pakistan national savings centers and post offices are operating as saving banks.

Question # 3

What are demand deposits.

Ans 1: These are teh deposits which can be demanded back at any time. Geneally business people deposit their amounts in the account of demand deposits so that they may draw money whenever they are in need of it for business affairs, Bank cannot use these deposits for davancing loans. So, bank does not pay intrest on these depostis.

Question # 4

Which bank have been privatized from the nationalized banks.

Ans 1: 1- Habib Nnak Limited 2- United Bank Limited
3- Muslim Commercial bank limited 4- Allied bank limited

Question # 5

Write kinds of commercial bank.

Ans 1: 1- Scheduled bank 2- Non - Scheduled bank

Question # 6

What are time deposits.

Ans 1: These are teh depostis which are depostied with the bank for a fiexed period, Bank invests these depostis in some business for a fixex period or lends. So, it pays intrest comparatively at higher rate. However, if a depositor is in severe need of money, he cna draw after serving a notice in advance to the abnk but in this situation bank retruns. the pricnipal amount only land does ot pay any interest.

Question # 7

When did the govt of Pakistan issue ordiane of nationalization of banks.

Ans 1: On 31st Decemebr 1973

Question # 8

What is bank.

Ans 1: Banks is financial institution which receives deposits of the people. People deposit their surplus moneyin bank Bnak pays intrest at low rate on these depsoits, It lend major part of these deposits to needy enterpreneurs and business men and recievies intrest comparatively at higher rate from its borrows.

Question # 9

What is over draft and banking system.

Ans 1: The amount of money which a bank allows its customer to draw over and above his own deposit is called over draft in banking system.

Question # 10

What is Foreign Exchang bank.

Ans 1: These banks perform the function of exchange of currencies of differnet countries Dut to this transcactions in international trade become easy. These banks provide finaincial resoruces to the importers and exporters by discounting foreign bills of exchange. These banks issue drats also for foreign payments. In pakistna foreign banks Americna express, National and Grindlays bank. Chartered bank etc. are foreign exchange bank

Submit

ICom Part 2 Principles of Economics Chapter 3 Short Questions Preparation - Set 2

Question # 1

Which bank is now a govt. bank from teh nationalized banks.

Ans 1: National Bank Of Pakistan

Question # 2

Define bank in the words of Prof. Renalds.

Ans 1: "Banks deals in mney rathr it is more appropriate to say that they deal in the transaction of loans.

Question # 3

What are time deposits.

Ans 1: These are teh depostis which are depostied with the bank for a fiexed period, Bank invests these depostis in some business for a fixex period or lends. So, it pays intrest comparatively at higher rate. However, if a depositor is in severe need of money, he cna draw after serving a notice in advance to the abnk but in this situation bank retruns. the pricnipal amount only land does ot pay any interest.

Question # 4

What is credit creation.

Ans 1: Advancign of loans by the banks more than the deposits of the people is called credit creation.

Question # 5

Who is the president of Banking council.

Ans 1: Deputy governour of State Bank of Pakistan

Question # 6

What is saving bank.

Ans 1: These are banks which receive savings of the people as deposits and pay higher intrest rate than the current interest rate.They do not advance loans to the people rather give the whole collected amount to governemnt. In Pakistan national savings centers and post offices are operating as saving banks.

Question # 7

What are Scheduled banks.

Ans 1: These are the banks which start their business after gettig permission from the central bank. Minimum limit of their capital is fixced These are registered with the centralbank and are bound to deposit a certain proportionof their depostis in central bank and are bound to deposit in central bank. Cental bank helps them at the time of trouble as lender of last resort.

Question # 8

Define bank in the word of Prof Crowther.

Ans 1: "Bank is aninstitution which gets loans to lend and in this way creates credit money."

Question # 9

What are non -scheduled banks.

Ans 1: Thse are the banks which have started their business without the permissionof centralbank . No limit of their capital is fixed. They cna stat their business with the amount of capital, they desire, They are not registered with the central bank and are not bound to deposit any proportionof their deposits. Central bank also does not help or guide them In pakistan, ccoperative baks are of this type of bank.

Question # 10

Which bank have been privatized from the nationalized banks.

Ans 1: 1- Habib Nnak Limited 2- United Bank Limited
3- Muslim Commercial bank limited 4- Allied bank limited

Submit

12th Principles of Economics Chapter 3 Preparation

Short Questions
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I.Com part 2 Principles of Economics Chapter 3 Short Question Preparation

12th Class Principles of EconomicsChapter 3

12th Class Principles of Economics Chapter Wise Preparation

Online Short Questions For Chapter 3 "ICom Part 2 Principles of Economics Chapter 3 Short Questions Preparation "

Economics - ICom Part 2 Principles of Economics Chapter 3 Short Questions Preparation

What are profit.

What is saving bank.

What are demand deposits.

Which bank have been privatized from the nationalized banks.

Write kinds of commercial bank.

What are time deposits.

When did the govt of Pakistan issue ordiane of nationalization of banks.

What is bank.

What is over draft and banking system.

What is Foreign Exchang bank.

Prepare Complete Set Wise Questions For Chapter 3 "ICom Part 2 Principles of Economics Chapter 3 Short Questions Preparation "

Set 1

Set 2

ICom Part 2 Principles of Economics Chapter 3 Short Questions Preparation - Set 1

What are profit.

What is saving bank.

What are demand deposits.

Which bank have been privatized from the nationalized banks.

Write kinds of commercial bank.

What are time deposits.

When did the govt of Pakistan issue ordiane of nationalization of banks.

What is bank.

What is over draft and banking system.

What is Foreign Exchang bank.

ICom Part 2 Principles of Economics Chapter 3 Short Questions Preparation - Set 2

Which bank is now a govt. bank from teh nationalized banks.

Define bank in the words of Prof. Renalds.

What are time deposits.

What is credit creation.

Who is the president of Banking council.

What is saving bank.

What are Scheduled banks.

Define bank in the word of Prof Crowther.

What are non -scheduled banks.

Which bank have been privatized from the nationalized banks.

12th Principles of Economics Chapter 3 Preparation

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12th Class Principles of Economics
Chapter 3