I.Com part 2 Principles of Economics Chapter 4 Short Question Preparation

12th Class Principles of Economics
Chapter 4

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12th Class Principles of Economics Chapter Wise Preparation

Chapter 1
Chapter 2
Chapter 3
Chapter 4
Chapter 5
Chapter 6
Chapter 7
Chapter 8
Chapter 9
Chapter 10
Chapter 11
Chapter 12
Chapter 13

Online Short Questions For Chapter 4 "ICom Part 2 Principles of Economics Chapter 4 Short Questions Preparation "

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Economics - ICom Part 2 Principles of Economics Chapter 4 Short Questions Preparation

Question # 1

What is meant by surplus budget.

Ans 1: When the revenue of the government is more then its expenditures, thenitis called surplus budget.

Question # 2

What are different kinds of taxes.

Ans 1: 1- Direct Tax 2- Indirect Tax 3- Proportional tax
Ans 2: 4- Progressive tax
Ans 3: 5- Regressive tax 6- Value added tax

Question # 3

Write four points of similarities between public finance and private finance.

Ans 1: 1- Balane between income and expenditure.
Ans 2: 2- Maximum utlization of scarece means.
Ans 3: 3- Need of loans. 4- Increase in income trough investment.

Question # 4

Define Capital budget.

Ans 1: The capital budget is a budget in which such expnditures ae explained which cause increase in capital goods.

Question # 5

What is meant by Public Finance.

Ans 1: Public Finance is that branch of economics, which deals with the revenue and expenditures of the government . it studies the resources of government's revenue adn its expenditures.

Question # 6

What is meant by indirect tax.

Ans 1: Indirect tax means the tax which is not paid from the pocket on when it is levied, Rather the burden of the tax is shifted to another person. For example sale tax custome duty and excise duty etc.

Question # 7

Define public fiance in the words of Bastable.

Ans 1: Public finance is that branch of economcs which studies the revenue and expenditures of government's institution, their interrelationship and financial administration.

Question # 8

Write four difference between public finance and private finance.

Ans 1: 1- Difference in Adjustment of income and expenditure.
Ans 2: 2- Difference in budget period.
Ans 3: 3- Private budget is kept secret while public budget is announced.

Question # 9

What is meant by budget.

Ans 1: Account of income nad expenditure is called budget.

Question # 10

What is meant by Balanced Budget.

Ans 1: When the revenues of the government are equal to its expeditures than it is called balanced budget

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Prepare Complete Set Wise Questions For Chapter 4 "ICom Part 2 Principles of Economics Chapter 4 Short Questions Preparation "

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Set 2

10 Questions
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Set 3

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ICom Part 2 Principles of Economics Chapter 4 Short Questions Preparation - Set 1

Question # 1

What is meant by surplus budget.

Ans 1: When the revenue of the government is more then its expenditures, thenitis called surplus budget.

Question # 2

What are different kinds of taxes.

Ans 1: 1- Direct Tax 2- Indirect Tax 3- Proportional tax
Ans 2: 4- Progressive tax
Ans 3: 5- Regressive tax 6- Value added tax

Question # 3

Write four points of similarities between public finance and private finance.

Ans 1: 1- Balane between income and expenditure.
Ans 2: 2- Maximum utlization of scarece means.
Ans 3: 3- Need of loans. 4- Increase in income trough investment.

Question # 4

Define Capital budget.

Ans 1: The capital budget is a budget in which such expnditures ae explained which cause increase in capital goods.

Question # 5

What is meant by Public Finance.

Ans 1: Public Finance is that branch of economics, which deals with the revenue and expenditures of the government . it studies the resources of government's revenue adn its expenditures.

Question # 6

What is meant by indirect tax.

Ans 1: Indirect tax means the tax which is not paid from the pocket on when it is levied, Rather the burden of the tax is shifted to another person. For example sale tax custome duty and excise duty etc.

Question # 7

Define public fiance in the words of Bastable.

Ans 1: Public finance is that branch of economcs which studies the revenue and expenditures of government's institution, their interrelationship and financial administration.

Question # 8

Write four difference between public finance and private finance.

Ans 1: 1- Difference in Adjustment of income and expenditure.
Ans 2: 2- Difference in budget period.
Ans 3: 3- Private budget is kept secret while public budget is announced.

Question # 9

What is meant by budget.

Ans 1: Account of income nad expenditure is called budget.

Question # 10

What is meant by Balanced Budget.

Ans 1: When the revenues of the government are equal to its expeditures than it is called balanced budget

Submit

ICom Part 2 Principles of Economics Chapter 4 Short Questions Preparation - Set 2

Question # 1

What is Revenue Budget.

Ans 1: The revenue budget is a budget in which revenue collected from different kinds of taxes is shown.

Question # 2

Define Public Finance in the words of Prof. Dalton.

Ans 1: Public Finance deals with government's revenue and expenditure and it studies how government maintains balance between its revenue and revenue and expenditure.

Question # 3

Different betwene Fee and Tax.

Ans 1: Fee is the reward of the government's services from which the people are benefited, while the tax payer can not demand for direct personal benefit from the goverenment in return for payment of tax.

Question # 4

What is meant by budget.

Ans 1: Account of income nad expenditure is called budget.

Question # 5

What is meant by surplus budget.

Ans 1: When the revenue of the government is more then its expenditures, thenitis called surplus budget.

Question # 6

What is meant by Deficit budget.

Ans 1: When the revenues of the government are less thanits expenditures thenit is called, deficit budget.

Question # 7

Difference between public finance and private finance.

Ans 1: The study of government's revenue, expenditure and their principles is called public finance. Where as, the study of the nature of an individual's income, expenditure and their related principles is called private finance.

Question # 8

Write four sources of tax revenue of the government.

Ans 1: 1- Custom duty 2- Excise duty 3- Income tax and corporate tax
Ans 2: 4- Sales tax.

Question # 9

Write four difference between public finance and private finance.

Ans 1: 1- Difference in Adjustment of income and expenditure.
Ans 2: 2- Difference in budget period.
Ans 3: 3- Private budget is kept secret while public budget is announced.

Question # 10

Write the four basic canons of taxation stated by Prof.Adam Smith.

Ans 1: 1- Canon of equality 2- Canon of certainity
Ans 2: 3- Canon of convenience 4- Canon of economy

Submit

ICom Part 2 Principles of Economics Chapter 4 Short Questions Preparation - Set 3

Question # 1

What is meant by surplus budget.

Ans 1: When the revenue of the government is more then its expenditures, thenitis called surplus budget.

Question # 2

What is Revenue Budget.

Ans 1: The revenue budget is a budget in which revenue collected from different kinds of taxes is shown.

Question # 3

Define Public Finance in the words of Prof. Dalton.

Ans 1: Public Finance deals with government's revenue and expenditure and it studies how government maintains balance between its revenue and revenue and expenditure.

Question # 4

Difference between public finance and private finance.

Ans 1: The study of government's revenue, expenditure and their principles is called public finance. Where as, the study of the nature of an individual's income, expenditure and their related principles is called private finance.

Question # 5

Define canon of taxation " canon of convenience" according to Prof. Adam smith.

Ans 1: According to Prof. Adam Smith tax should be levied on the time when the taxpayer can easily pary it. Therefore it is necessary that tax should be collected in installment and at the time when tax payers get their incomesor salaries.

Question # 6

What is meant by budget.

Ans 1: Account of income nad expenditure is called budget.

Question # 7

What is meant by Fee.

Ans 1: The government provides some direct services to the people nad charges money in return for these services. it is called fee.

Question # 8

What is meant by Deficit budget.

Ans 1: When the revenues of the government are less thanits expenditures thenit is called, deficit budget.

Question # 9

Write four sources of tax revenue of the government.

Ans 1: 1- Custom duty 2- Excise duty 3- Income tax and corporate tax
Ans 2: 4- Sales tax.

Question # 10

What are different kinds of taxes.

Ans 1: 1- Direct Tax 2- Indirect Tax 3- Proportional tax
Ans 2: 4- Progressive tax
Ans 3: 5- Regressive tax 6- Value added tax

Submit

12th Principles of Economics Chapter 4 Preparation

Short Questions
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I.Com part 2 Principles of Economics Chapter 4 Short Question Preparation

12th Class Principles of EconomicsChapter 4

12th Class Principles of Economics Chapter Wise Preparation

Online Short Questions For Chapter 4 "ICom Part 2 Principles of Economics Chapter 4 Short Questions Preparation "

Economics - ICom Part 2 Principles of Economics Chapter 4 Short Questions Preparation

What is meant by surplus budget.

What are different kinds of taxes.

Write four points of similarities between public finance and private finance.

Define Capital budget.

What is meant by Public Finance.

What is meant by indirect tax.

Define public fiance in the words of Bastable.

Write four difference between public finance and private finance.

What is meant by budget.

What is meant by Balanced Budget.

Prepare Complete Set Wise Questions For Chapter 4 "ICom Part 2 Principles of Economics Chapter 4 Short Questions Preparation "

Set 1

Set 2

Set 3

ICom Part 2 Principles of Economics Chapter 4 Short Questions Preparation - Set 1

What is meant by surplus budget.

What are different kinds of taxes.

Write four points of similarities between public finance and private finance.

Define Capital budget.

What is meant by Public Finance.

What is meant by indirect tax.

Define public fiance in the words of Bastable.

Write four difference between public finance and private finance.

What is meant by budget.

What is meant by Balanced Budget.

ICom Part 2 Principles of Economics Chapter 4 Short Questions Preparation - Set 2

What is Revenue Budget.

Define Public Finance in the words of Prof. Dalton.

Different betwene Fee and Tax.

What is meant by budget.

What is meant by surplus budget.

What is meant by Deficit budget.

Difference between public finance and private finance.

Write four sources of tax revenue of the government.

Write four difference between public finance and private finance.

Write the four basic canons of taxation stated by Prof.Adam Smith.

ICom Part 2 Principles of Economics Chapter 4 Short Questions Preparation - Set 3

What is meant by surplus budget.

What is Revenue Budget.

Define Public Finance in the words of Prof. Dalton.

Difference between public finance and private finance.

Define canon of taxation " canon of convenience" according to Prof. Adam smith.

What is meant by budget.

What is meant by Fee.

What is meant by Deficit budget.

Write four sources of tax revenue of the government.

What are different kinds of taxes.

12th Principles of Economics Chapter 4 Preparation

12th Class Principles of Economics
Chapter 4