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

12th Class Principles of Economics
Chapter 4

START CHAPTER 4 TEST

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 "

Try The Short Questions For ICom Part 2 Principles of Economics Chapter 4 Short Questions Preparation

Total Questions10
Available Sets3

Start Test Download PDF

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

Question # 1

Define Public Finance in the word of Prof. Armitage Smith.

Ans 1: The study of nature of principles of government's expenditure and revenue is called Public Finance.

Question # 2

Write four main sources of public revenue.

Ans 1: 1- Taxes 2- Fee 3- Price 4- Special assessment

Question # 3

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 # 4

Write four heads of public expenditure.

Ans 1: 1- Defiance 2- Police 3- Civil administration 4- Courts.

Question # 5

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 # 6

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 # 7

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 # 8

What are kinds of public expenditures.

Ans 1: 1- Developmentof expnditures 2- Non development expnditues.

Question # 9

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

Question # 10

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.

Submit

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

Set 1

10 Questions
Start
Set 2

10 Questions
Start
Set 3

10 Questions
Start

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

Question # 1

Define Public Finance in the word of Prof. Armitage Smith.

Ans 1: The study of nature of principles of government's expenditure and revenue is called Public Finance.

Question # 2

Write four main sources of public revenue.

Ans 1: 1- Taxes 2- Fee 3- Price 4- Special assessment

Question # 3

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 # 4

Write four heads of public expenditure.

Ans 1: 1- Defiance 2- Police 3- Civil administration 4- Courts.

Question # 5

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 # 6

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 # 7

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 # 8

What are kinds of public expenditures.

Ans 1: 1- Developmentof expnditures 2- Non development expnditues.

Question # 9

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

Question # 10

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.

Submit

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

Question # 1

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 # 2

What is meant by direct tax.

Ans 1: Direct tax means the tax which is paid from the pocket of the person on when it is levied. It means the incidence and impact of the tax is one the same person income tax, peoperty tax and wealth tax are the examples of this kind of tax.

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

Write kind of public budget.

Ans 1: 1- Revenue budget 2- Capital budget

Question # 5

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 # 6

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 # 7

What is Revenue Budget.

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

Question # 8

Define Public Finance in the word of Prof. Armitage Smith.

Ans 1: The study of nature of principles of government's expenditure and revenue is called Public Finance.

Question # 9

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 # 10

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.

Submit

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

Question # 1

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 # 2

Define Excise Duty.

Ans 1: The tax which is impoed n domestically manufactured goods is called Excise duty.

Question # 3

What is meant by surplus budget.

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

Question # 4

Define Public Finance in the word of Prof. Armitage Smith.

Ans 1: The study of nature of principles of government's expenditure and revenue is called Public Finance.

Question # 5

What is Revenue Budget.

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

Question # 6

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

Question # 7

What are kinds of public expenditures.

Ans 1: 1- Developmentof expnditures 2- Non development expnditues.

Question # 8

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 # 9

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 # 10

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.

Submit

12th Principles of Economics Chapter 4 Preparation

Short Questions
I.Com

Latest Educational News Stories

Pakistan's Largest Database of Colleges and Universities

BS Programs

University Past Papers

University Results

Exam Results 2024

Study Abroad Programs and Opportunities for Pakistani Students

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

Define Public Finance in the word of Prof. Armitage Smith.

Write four main sources of public revenue.

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

Write four heads of public expenditure.

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

What are different kinds of taxes.

Define Public Finance in the words of Prof. Dalton.

What are kinds of public expenditures.

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

What is meant by indirect tax.

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

Define Public Finance in the word of Prof. Armitage Smith.

Write four main sources of public revenue.

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

Write four heads of public expenditure.

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

What are different kinds of taxes.

Define Public Finance in the words of Prof. Dalton.

What are kinds of public expenditures.

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

What is meant by indirect tax.

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

Define public fiance in the words of Bastable.

What is meant by direct tax.

Different betwene Fee and Tax.

Write kind of public budget.

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

Write four difference between public finance and private finance.

What is Revenue Budget.

Define Public Finance in the word of Prof. Armitage Smith.

What are different kinds of taxes.

Difference between public finance and private finance.

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

Write four sources of tax revenue of the government.

Define Excise Duty.

What is meant by surplus budget.

Define Public Finance in the word of Prof. Armitage Smith.

What is Revenue Budget.

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

What are kinds of public expenditures.

Different betwene Fee and Tax.

What are different kinds of taxes.

Define Public Finance in the words of Prof. Dalton.

12th Principles of Economics Chapter 4 Preparation

Is this page helpful?

12th Class Principles of Economics
Chapter 4