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	Which one of the following is included in balance of trade	Visible goods Invisible goods Visible & invisible goods All the three
2	The systematic record of visible and invisible exports and imports of a country in one year is called	Balance of trade Balance of payment External balance Internal balance
3	The systematic record of the money value of visible exports and visible imports of one year of country is called	Balance of trade Balance of payment International balance External balance
4	The trade that takes place between the inhabitants of two countries is called	Domestic trade International trade National trade Regional Trade
5	The trade that takes place between the individuals living in different areas of a country is called	Domestic trade International trade Foreign trade Regional Trade
6	" International balance of payment is all that transaction for which either foreign exchange is spent or received." This definition is stated by	Prof. Marshal Prof.Samuelson Prof. Ricardo Prof. Hicks
7	Balance of visible goods of a country mean	Quantity of imports & exports Value of imports & exports Value of imported & exported goods and services Value of imported & exported services
8	Which of the following is not invisible trade	Expenditure on education in other country Expenditure on imported machinery Expenditure of passengers traveling by air Expenditure of goods carried by a ship
9	One of the following is invisible item of balance of payment	Import of motor cars Exports of cotton Expenditure of passengers traveling by air Private investment in foreign country
10	In case of international trade, trade restrictions are usually	Limited More Too much None of three
11	In balance of payment are included	Visible items Invisible items Visible and invisible items Material items
12	Factors of production are more mobile	In international trade In the country In both In none
13	International trade is based on the following except	Different factors of production are required for the production of different goods Factors of production exist in different ratios in different countries Factors of production are in abundant quantity in different countries Factors of production are in limited quantity in different countries
14	One of the following is not disadvantage of international trade	Dependence on production of limited goods Supply of goods injurious to health Bitter pill for political freedom Development of civilization & culture
15	One of the following is not advantage of international trade	Provision of necessities of life Imperfections of market Provision of medicines & machinery Provision of necessities of defence

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