Basic Economics

Total Questions: 24

1 - Economics is the science of welath was defined by .

A ) None of these

B ) Adam Smith ✅

C ) Robbins

D ) J.K Mehta

2 - Subsidy is ____?

A ) A benefit given to individuals or businesses by the government ✅

B ) A tax imposed by the government

C ) A loan provideed to individuals or businesses

D ) A fine for non compliance with government regulations

3 - Trade Surplus means ?

A ) Current account Deficit

B ) Exports are greater than imports ✅

C ) Imports are greater than Exports

D ) Balance of payment

4 - The type of economics that deals with trade and foreign exchange is ?

A ) Development Economics

B ) Macroeconomics ✅

C ) Keynesian economics

D ) Microeconomics

5 - Muslim thinkers categorize economy as :

A ) Political economy

B ) Islamic economy ✅

C ) Household economy

D ) None of these

6 - NEC Stands for ?

A ) National Economic Counsel

B ) National Economic Council ✅

C ) Nation Economic Council

D ) National Economic Committee

7 - The Major Govt. Policies that can be used to pursue its microeconomic goals are ?

A ) Fiscal policy Monitory policy and Subsidies ✅

B ) Fiscal policy, Debt Policy

C ) Fiscal policy Monitory policy Debt Policy

D ) Fiscal Policy Monitory policy

8 - Which among the following is the correct combination of all three economic growth indicators?

A ) None of These

B ) The Consumer price index Gross domestic product Unemployment figures ✅

C ) Capital Industry Agriculture

D ) Consumption Investment saving

9 - If GNP of Pakistan rises it will encourage ?

A ) Loss of deficit

B ) Both C and D ✅

C ) Imports

D ) Exports

10 - Downsizing is ____?

A ) None of these

B ) To make in a half size

C ) To make in an actual size

D ) To make in a smaller size ✅

11 - Deficit Financing means ___?

A ) Spending exceeds revenues ✅

B ) None of the above

C ) Losing exceeds revenues

D ) Profiting exceeds revenues

12 - Deficit Financing is an economic term which implies ____?

A ) Government spends less money than it receives as revenue

B ) Government spends more money than it receives as revenue ✅

C ) Government spends the same amount of money which it receives in revenue

D ) Government borrows from the Central bank of the country

13 - Slump is :

A ) Social Depression

B ) An Economic term ✅

C ) Political vendetta

D ) Transfer of Criminal

14 - What is Contraband ?

A ) Articles banned by a government ✅

B ) All Narcotics

C ) All smuggled material

D ) Goods that may assist an enemy in the conduct of war

15 - What is called a Tax on imports and exports ?

A ) Excise

B ) None of these

C ) Custom Duty ✅

D ) Drawback

16 - When no tariffs are imposed on all imports and exports it is called ____?

A ) Non Tariff Barriers ✅

B ) Free Trade

C ) Balance of Trade

D ) Preferential Trade

17 - Grameen Bank a pioneer in the field of microfinance was the brainchild of ___?

A ) Dr . Riaz Rahman

B ) Fazle Hussain Abid

C ) Prof. Muhammad younas ✅

D ) Dr . Muhammad Salman Rahman

18 - When the stock market is going down it is ____?

A ) Bearish ✅

B ) Crashing

C ) Bullish

D ) Slumberous

19 - When the stock market is rising it is called :

A ) Bullish ✅

B ) Bearish

C ) Hot

D ) Rising up

20 - Blockchain technology is primarily used in ?

A ) Crypto Currency ✅

B ) Data storage

C ) Supply chain

D ) Digital payments

21 - Which of the following is not an online payment method ?

A ) Cash on Delivery ✅

B ) E Cheque

C ) Credit card

D ) Debit Card

22 - The Consumer uses which platform to connect the merchant website to the internet ?

A ) Network

B ) Website

C ) Web Browser ✅

D ) Internet

23 - What are the main resources for the development of a national economy ?

A ) All of these ✅

B ) Natural resources

C ) Human resources

D ) Self sufficiency

24 - E-commerce is associated with which business?

A ) Electronic Commerce ✅

B ) Offline Sales

C ) Online Retail

D ) Retail Business