I.Com part 2 Principles of Economics Chapter 5 Short Question Preparation

12th Class Principles of Economics
Chapter 5

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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
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Online Short Questions For Chapter 5 "ICom Part 2 Principles of Economics Chapter 5 Short Questions Preparation "

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Economics - ICom Part 2 Principles of Economics Chapter 5 Short Questions Preparation

Question # 1

When is balanc eof payment surplus.

Ans 1: Balance of payment is surplus when current account is surplus

Question # 2

What is multinational or transnationlal corporation.

Ans 1: A mutinational coporation or multinational enterprise or transnational cooporation is a corporation that manages production establishments or delivers services in a at least two countries.

Question # 3

Who did present the comparative cost theory of international trade.

Ans 1: Prof. Ricardo presented comparative cost or comparative advantage theory of international trade

Question # 4

What is meant by visible goods.

Ans 1: Visile goods are the goods which can be seen and felt. For example table, chair wheat, cotton, refrigerator etc.

Question # 5

Write six advantages of intenational trade.

Ans 1: 1- Acquisition of foreign goods.
Ans 2: 2- Availability of goods in cse of shortage 3- Export of surplus production
Ans 3: 4- It causes international peace 5- Removal of monopolies
Ans 4: 6- Optimum use of productive resoruces.

Question # 6

What is meant by deficit or unfavourable balance of payments.

Ans 1: If a country exports its visible and invisible goods of less value than the value of its imports of visible and invisible goods then, Its balance of payments willbe deficits or unfavourable.

Question # 7

What can be the other name of comparative cost theory.

Ans 1: General theory of international trade.

Question # 8

What are three components of current account.

Ans 1: Balance of trade, Services and non transferable private transfers.

Question # 9

Write four advantages of globalisation.

Ans 1: 1- Use of better technology 2- Availability of better quality goods
Ans 2: 3- Repidness in developmental works
Ans 3: 4- Arising of atmosphere of brotherbood

Question # 10

Write four disadvantages of multinational corporations.

Ans 1: 1- discouragement of local industries 2- Establishment of monopolies.
Ans 2: 3- Transfer of resources in foreign countries
Ans 3: 4- Fear of external interference

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Prepare Complete Set Wise Questions For Chapter 5 "ICom Part 2 Principles of Economics Chapter 5 Short Questions Preparation "

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Set 2

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Set 3

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Set 4

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ICom Part 2 Principles of Economics Chapter 5 Short Questions Preparation - Set 1

Question # 1

When is balanc eof payment surplus.

Ans 1: Balance of payment is surplus when current account is surplus

Question # 2

What is multinational or transnationlal corporation.

Ans 1: A mutinational coporation or multinational enterprise or transnational cooporation is a corporation that manages production establishments or delivers services in a at least two countries.

Question # 3

Who did present the comparative cost theory of international trade.

Ans 1: Prof. Ricardo presented comparative cost or comparative advantage theory of international trade

Question # 4

What is meant by visible goods.

Ans 1: Visile goods are the goods which can be seen and felt. For example table, chair wheat, cotton, refrigerator etc.

Question # 5

Write six advantages of intenational trade.

Ans 1: 1- Acquisition of foreign goods.
Ans 2: 2- Availability of goods in cse of shortage 3- Export of surplus production
Ans 3: 4- It causes international peace 5- Removal of monopolies
Ans 4: 6- Optimum use of productive resoruces.

Question # 6

What is meant by deficit or unfavourable balance of payments.

Ans 1: If a country exports its visible and invisible goods of less value than the value of its imports of visible and invisible goods then, Its balance of payments willbe deficits or unfavourable.

Question # 7

What can be the other name of comparative cost theory.

Ans 1: General theory of international trade.

Question # 8

What are three components of current account.

Ans 1: Balance of trade, Services and non transferable private transfers.

Question # 9

Write four advantages of globalisation.

Ans 1: 1- Use of better technology 2- Availability of better quality goods
Ans 2: 3- Repidness in developmental works
Ans 3: 4- Arising of atmosphere of brotherbood

Question # 10

Write four disadvantages of multinational corporations.

Ans 1: 1- discouragement of local industries 2- Establishment of monopolies.
Ans 2: 3- Transfer of resources in foreign countries
Ans 3: 4- Fear of external interference

Submit

ICom Part 2 Principles of Economics Chapter 5 Short Questions Preparation - Set 2

Question # 1

What is the objective of establishment of internatioal monetary fund.

Ans 1: Teh objective of establishment of internatioal monetary funds is to maintain the balance of payments of its memebr countries This organization provides foreign exchang eto improve the balance of payments of its memebrs.

Question # 2

Name the classical theories of international trade.

Ans 1: 1- Absolute advantage theory of Adam Smith
Ans 2: 2- Comparative cost theory of Richardo

Question # 3

Difference between national and international trade.

Ans 1: The trade that takes place between the individuals living in the same country is caleld national or internal trade. Conversely, the trade that takes place among the individuals living in differen countries of the world is called internatioal or external trade

Question # 4

What is meant by balance of trade.

Ans 1: The sytematic record of the money value of visible imports and visible exports of a country in one year is called balance of trade.

Question # 5

What is meant by surplus or favourable balacnce of payments.

Ans 1: If a country exports its visible and invisible goods of more valeu than the value of its imports of visible and invisible goods, thenits balacne of payments will be surplus or favourable.

Question # 6

What is meant by deficit or unfavourable balance of payments.

Ans 1: If a country exports its visible and invisible goods of less value than the value of its imports of visible and invisible goods then, Its balance of payments willbe deficits or unfavourable.

Question # 7

What is meant by domestic trade.

Ans 1: The trade that takes place between teh iindivbiduals living in the same country is called domestic or national or internal trade.

Question # 8

What is meant by deficit or unfavourable balance of trade.

Ans 1: If the value of visible exports of a country is lass that the value of its visible imports then its balance of trade wil be deficit or unfavorable.

Question # 9

Write four measures to improve balance of payments of country.

Ans 1: 1- Increase in exports 2- Decreasein imports 3- Devaluation in currency
Ans 2: 4- Decrease in quantity of money

Question # 10

Who did present classicial theory of international trade.

Ans 1: Classical theory of international trade was presented by Prof.Adam Smith and Richardo.

Submit

ICom Part 2 Principles of Economics Chapter 5 Short Questions Preparation - Set 3

Question # 1

What is meant by visible goods.

Ans 1: Visile goods are the goods which can be seen and felt. For example table, chair wheat, cotton, refrigerator etc.

Question # 2

Write four main functions of WTO.

Ans 1: 1- It cooperates with different international organizations on matters related to trade.
Ans 2: 2- It is responsible to settle down trade disputes which may arise between the countries.
Ans 3: 3- It arranges training and provides technicla assistance to developing countries.
Ans 4: 4- It supervises the trade policies of its memebr counties.

Question # 3

What is multinational or transnationlal corporation.

Ans 1: A mutinational coporation or multinational enterprise or transnational cooporation is a corporation that manages production establishments or delivers services in a at least two countries.

Question # 4

What are three components of current account.

Ans 1: Balance of trade, Services and non transferable private transfers.

Question # 5

Write four measures to improve balance of payments of country.

Ans 1: 1- Increase in exports 2- Decreasein imports 3- Devaluation in currency
Ans 2: 4- Decrease in quantity of money

Question # 6

What can be the other name of comparative cost theory.

Ans 1: General theory of international trade.

Question # 7

Write four causes of deficit balance of payments of country.

Ans 1: 1- Decrease in exports.
Ans 2: 2- Increase in imports
Ans 3: 3- inflation
Ans 4: 4- Unfavourable terms of trade

Question # 8

What is meant by balance of payments.

Ans 1: The systematic record of visible and invisible exports and imports of a conntry in one year is called balnce of payments.

Question # 9

Who did present absolute advantage theory of international trade.

Ans 1: Prof. Adam Smith presented the absolute advantage theory of international trade

Question # 10

What is meant by balance of trade.

Ans 1: The sytematic record of the money value of visible imports and visible exports of a country in one year is called balance of trade.

Submit

ICom Part 2 Principles of Economics Chapter 5 Short Questions Preparation - Set 4

Question # 1

What is current account of balance of payment.

Ans 1: Account of exports and imports of general goods and services is called current account of balance of payment.

Question # 2

Write formula o terms of trade.

Ans 1: Terms of trade=
export price index of current year/ import price index of current yearx100

Question # 3

What is meant by domestic trade.

Ans 1: The trade that takes place between teh iindivbiduals living in the same country is called domestic or national or internal trade.

Question # 4

What can be the other name of comparative cost theory.

Ans 1: General theory of international trade.

Question # 5

Define balance of payment in the word of Prof. Kindle Berger.

Ans 1: It is the systematic record of all economic transactions of a country with the rest of the world.

Question # 6

What is the objective of establishment of internatioal monetary fund.

Ans 1: Teh objective of establishment of internatioal monetary funds is to maintain the balance of payments of its memebr countries This organization provides foreign exchang eto improve the balance of payments of its memebrs.

Question # 7

How many are components of capital account.

Ans 1: Three

Question # 8

When is balanc eof payment surplus.

Ans 1: Balance of payment is surplus when current account is surplus

Question # 9

Which are inivisible items of balance of payments.

Ans 1: 1- Rewards of the services of foreign companies.
Ans 2: 2- Expenditure on education in foreign countries.
Ans 3: 3- Expenditure on treatment i foreign countries.
Ans 4: 4- Expenditure on tourism
Ans 5: 5- Expenditure on political, cultural and trade delegates.

Question # 10

What is meant by deficit or unfavourable balance of trade.

Ans 1: If the value of visible exports of a country is lass that the value of its visible imports then its balance of trade wil be deficit or unfavorable.

Submit

12th Principles of Economics Chapter 5 Preparation

Short Questions
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I.Com part 2 Principles of Economics Chapter 5 Short Question Preparation

12th Class Principles of EconomicsChapter 5

12th Class Principles of Economics Chapter Wise Preparation

Online Short Questions For Chapter 5 "ICom Part 2 Principles of Economics Chapter 5 Short Questions Preparation "

Economics - ICom Part 2 Principles of Economics Chapter 5 Short Questions Preparation

When is balanc eof payment surplus.

What is multinational or transnationlal corporation.

Who did present the comparative cost theory of international trade.

What is meant by visible goods.

Write six advantages of intenational trade.

What is meant by deficit or unfavourable balance of payments.

What can be the other name of comparative cost theory.

What are three components of current account.

Write four advantages of globalisation.

Write four disadvantages of multinational corporations.

Prepare Complete Set Wise Questions For Chapter 5 "ICom Part 2 Principles of Economics Chapter 5 Short Questions Preparation "

Set 1

Set 2

Set 3

Set 4

ICom Part 2 Principles of Economics Chapter 5 Short Questions Preparation - Set 1

When is balanc eof payment surplus.

What is multinational or transnationlal corporation.

Who did present the comparative cost theory of international trade.

What is meant by visible goods.

Write six advantages of intenational trade.

What is meant by deficit or unfavourable balance of payments.

What can be the other name of comparative cost theory.

What are three components of current account.

Write four advantages of globalisation.

Write four disadvantages of multinational corporations.

ICom Part 2 Principles of Economics Chapter 5 Short Questions Preparation - Set 2

What is the objective of establishment of internatioal monetary fund.

Name the classical theories of international trade.

Difference between national and international trade.

What is meant by balance of trade.

What is meant by surplus or favourable balacnce of payments.

What is meant by deficit or unfavourable balance of payments.

What is meant by domestic trade.

What is meant by deficit or unfavourable balance of trade.

Write four measures to improve balance of payments of country.

Who did present classicial theory of international trade.

ICom Part 2 Principles of Economics Chapter 5 Short Questions Preparation - Set 3

What is meant by visible goods.

Write four main functions of WTO.

What is multinational or transnationlal corporation.

What are three components of current account.

Write four measures to improve balance of payments of country.

What can be the other name of comparative cost theory.

Write four causes of deficit balance of payments of country.

What is meant by balance of payments.

Who did present absolute advantage theory of international trade.

What is meant by balance of trade.

ICom Part 2 Principles of Economics Chapter 5 Short Questions Preparation - Set 4

What is current account of balance of payment.

Write formula o terms of trade.

What is meant by domestic trade.

What can be the other name of comparative cost theory.

Define balance of payment in the word of Prof. Kindle Berger.

What is the objective of establishment of internatioal monetary fund.

How many are components of capital account.

When is balanc eof payment surplus.

Which are inivisible items of balance of payments.

What is meant by deficit or unfavourable balance of trade.

12th Principles of Economics Chapter 5 Preparation

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12th Class Principles of Economics
Chapter 5