ICS Part 2 Economics English Medium Chapter 5 Short Questions with Answers

Online Short Questions For Chapter 5 "ICS Part 2 Economics English Medium Chapter 5 Online Short Questions Test "

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Economics - ICS Part 2 Economics English Medium Chapter 5 Online Short Questions Test

Question # 1

Define balance of pyment in the word of Prof.Samuclson.

  • Ans 1: International balance of payments is all the transaction for which either foreign exchang is spent or received.
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Prepare Complete Set Wise Questions For Chapter 5 "ICS Part 2 Economics English Medium Chapter 5 Online Short Questions Test "

ICS Part 2 Economics English Medium Chapter 5 Online Short Questions Test - Set 1

Question # 1

Define balance of pyment in the word of Prof.Samuclson.

  • Ans 1: International balance of payments is all the transaction for which either foreign exchang is spent or received.
Submit

ICS Part 2 Economics English Medium Chapter 5 Online Short Questions Test - Set 2

Question # 1

What is meant by invisile goods.

  • Ans 1: Invisible goods are teh goods which cna neither the scene nor felt are invidible goods for example. Service of persons working abroad, Services of banks insurance companies working in other countries etc.
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ICS Part 2 Economics English Medium Chapter 5 Online Short Questions Test - Set 3

Question # 1

Write four advantages of WTO.

  • Ans 1: 1- Peaceful solution of trade differences.
  • Ans 2: 2- Elimination of taxes oon transportation
  • Ans 3: 3- Guarantor of peace and Safety
  • Ans 4: 4- Cheap provision of Necessities of life.
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ICS Part 2 Economics English Medium Chapter 5 Online Short Questions Test - Set 4

Question # 1

Name the classical theories of international trade.

  • Ans 1: 1- Absolute advantage theory of Adam Smith
  • Ans 2: 2- Comparative cost theory of Richardo
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ICS Part 2 Economics Chapter 5 Test

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