ICS Part 2 Economics English Medium Online Test With Answers

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ICS Part 2 Economics English Medium Online Test

Sr. # Questions Answers Choice
1 It is the medium of exchange Black money Currency Near money Foreign exchange
2 Convert money means. It can buy goods Govt. give gold against Illegal money Low value money
3 Which is money Cheque Credite card Currency Prize Bond
4 Which is not a Function of money Make demand and supply equal Medium of exchange Store of value Meaasure of value
5 If no money is used to exchange goods it is called. Barter Currency Black Market Free Trade
6 In Pakistan money a account is Paisa Rupee Gold Dollar
7 Money Material should be Abundant Scarce Beautiful Heavy
8 Cash can NOT be directly drawn fro a bank against Cross Cheque Order cheque Bearer cheque Traveller cheque
9 Rupee is a coin Full value Token money Credite money Convertible
10 Transfer payments include. Daily wages, pensions Pensions Zakat Taxes, pocket money Zakat , taxes
11 Circular flow of income links Income expenditure Govt taxes govt expenditure Exports ,imports Saving and investment
12 The goods which arw used directly by the people are called. Consumer goods Capital good Direct good None
13 It is not included in estimation of national incoe Illegal income Services of house wife Imports All are not included
14 It is avoided to make correct estimate of national income. Free services Double counting Export earnings All of the above
15 If we include it. national income will be over estimated Transfer payment Income from abroad Illegal income Exports
16 If saving exceed investment then National income rises National income falls National income is not affected None of the above
17 Which measure has the larger value . NNP GNP GDP NI
18 Total value of allfinal goods andservices produced annually by a country. NNP GNP GDP NI
19 The largest type of income in the Pakistan is Compensation of employees Rental income Proprietors income Coporate profits
20 In economics one of more persons living in a joint family are called a Community Social gathering Super family Household
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