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This online test contains MCQs about following topics:
. Meaning of international trade . Differnce in international trade and national trade . Importance of international trade . Adam Simth's theory o fabsolute advantage . Assumptions of theory . Criticism of theory . Causes of deficit in balance of payments
ICOM Part 1 Economics Ch 12 Test
ICOM Part 1 English Medium Subjects
ICOM Part 1 Urdu Medium Subjects
MCQ's Test For Chapter 12 "Principles of Economics Icom Part 1 English Medium Chapter 12 Online Test"
Try The MCQ's Test For Chapter 12 "Principles of Economics Icom Part 1 English Medium Chapter 12 Online Test"
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Total Questions15
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Time Allowed20
Principles of Economics Icom Part 1 English Medium Chapter 12 Online Test
00:00
Question # 1
Comparative cost theory was presented by
Question # 2
Inflation can be controlled by:
Question # 3
Foreign exchange is used in
Question # 4
According to classical theory of international trade, a country imports those goods from the other country which
Question # 5
When general price level increases due to increase in cost of production, it is known as ?
Question # 6
One of the following is not included in the methods of removing deficit in balance of payments of a country
Question # 7
The base of international trade theory of Adam Smith is
Question # 8
In order to improve the balance of payment the foremost try is to increase
Question # 9
In comparative cost or comparative advantage theory, ratio is
Question # 10
In which of the following condition theory of international trade is presented
Question # 11
Quantity theory of money was criticized by:
Question # 12
Balance of payment of a country is balanced when its
Question # 13
The systematic record of the money value of visible exports and visible imports of one year of country is called
Question # 14
One of the following is not included in the causes of deficit in balance of payments of a country
Question # 15
If the face value of a coin is equal to the value of metal used in:
11th Principle of Economics Chapter 12 Test
Here you can prepare 11th Principle of Economics English Medium Chapter 12 International Trade Test. Click the button for 100% free full practice test.
Top Scorers Of Chapter 12 "Principles of Economics Icom Part 1 English Medium Chapter 12 Online Test" MCQ`s Test
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M meeral 26 - Feb - 2021 01 Min 43 Sec 14/15 -
H Hira 02 - Dec - 2018 01 Min 49 Sec 14/15 -
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H Hira 14 - May - 2018 04 Min 25 Sec 14/15 -
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M Maham 07 - Dec - 2020 02 Min 52 Sec 11/15 -
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H hamza abid 07 - Aug - 2021 10 Min 50 Sec 11/15
ICom Part 1 Principles of Economics ( English Medium) Chapter 12 Important MCQ's
| Sr.# | Question | Answer |
|---|---|---|
| 1 | In between how many countries international trade takes place under comparative cost theory |
A. Two
B. Three
C. Four
D. Many
|
| 2 | The relation between quantity of money and value of money is: |
A. Positive
B. Negative
C. Direct
D. Inverse
|
| 3 | Balance of payments is annual statistical record of |
A. Visible goods
B. Invisible goods
C. Foreign loans
D. Visible and invisible goods
|
| 4 | Comparative cost theory is also called |
A. Theory of comparison cost
B. Theory of specialization of cost
C. Theory of balanced cost
D. Theory of specialization of production
|
| 5 | Money which can be converted into cash money is known is: |
A. Near money
B. Paper money
C. Legal tender money
D. Token money
|
| 6 | Balance of payment of a country is balanced when its |
A. Receipts are more than payments
B. Receipts are less than payments
C. Receipts are equal to payments
D. None of three
|
| 7 | Quantity theory of money was criticized by: |
A. Marshall
B. Sameulson
C. Keynes
D. Both b and c
|
| 8 | Difficulties in barter system: |
A. Lack of double coincidence of wants
B. Lack of storing value
C. Lack of common measure of value
D. All of these
|
| 9 | Which one of the following is included in balance of payment |
A. Visible goods
B. Invisible goods
C. Visible & invisible goods
D. Non material goods
|
| 10 | Balance of payment of a country is favourable when its |
A. Receipts are more than payments
B. Receipts are less than payments
C. Receipts are equal to payments
D. None of three
|
Test Questions
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