Terminology MCQs Online Test

Terminology Online Test

Sr. #	Questions	Answers Choice
1	The maximum price that a consumer is willing to pay for a good is called:	The reservation price The market price The first degree price The block price
2	Contribution of agriculture in Pakistan's national income is	20% 24% 28% 26%
3	Pakistan started its first five-year plan in	1947 1950 1955 1960
4	An increase in national income is:	Likely to increase exports Likely to decrease savings Likely to decrease investment Likely to increase spending on imports
5	The reason for cost push inflation is:	Increase in money wages Increase in rate of profit Both of above None of the above
6	Which of the following cannot be accepted factor of production?	Land Labour Light of sun Capital
7	Who determines price under perfect competition?	Representative firm Industry Normal firm Government
8	Which of the following is not an indirect tax?	Land revenue Customs duties Entertainment tax Sales tax
9	Which industry group has the highest outstanding amount in non-small scale sector in Pakistan?	Textile industry Engineering industry Sugar industry Iron industry
10	Income tax in subcontinent was introduced by?	Sir Charles Wood Lord Macaule James Wilson William Jones