11th class Principles of Economics chapter 12 online mcq test with answers for I.Com part 1 Principles of Economics chapter 12(International Trade)

Principles of Economics Icom Part 1 English Medium Chapter 12 Online Test

Sr. #	Questions	Answers Choice
1	Money which can be converted into cash money is known is:	Near money Paper money Legal tender money Token money
2	If the face value of a coin is greater than the value of metal used in:	Legal money Token money Standard money Both b and c
3	If the face value of a coin is equal to the value of metal used in:	Legal money Token money Standard money Both b and c
4	If currency can converted into gold, it is called:	Convertible paper money Inconvertible paper money Bank Money Both a and b
5	"Money is what money does" is the statements of:	Robbins Marshall Hicks Keynes
6	Difficulties in barter system:	Lack of double coincidence of wants Lack of storing value Lack of common measure of value All of these
7	A system where the goods are exchanged with money is known as:	Monetary system Barter system Coins system Modified system
8	A system where the goods are exchange with goods is known as:	Monetary system Barter System Coins system Goods system
9	The base of international trade theory of Adam Smith is	Absolute advantage Comparative cost Cheaper cost Low cost
10	The base of international trade theory of Devid Ricardo is	Absolute advantage Comparative cost Cheaper cost Low cost
11	The record of visible and invisible items on international account is called	Balance of payment Balance of trade Balance of budget Capital account
12	Balance of payments is annual statistical record of	Visible goods Invisible goods Foreign loans Visible and invisible goods
13	The exchange of goods and services from country to country is called	Foreign National trade Corporate trade Domestic trade
14	According to comparative cost theory conditions ------------- in goods and labour market exist	of monopoly of duopoly Monopolistic competition of perfect competition
15	Which economist has stated the definition of balance of payments	Robbins Kindleberger Marshall Keynes

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