ICS Part 2 Economics English Medium Chapter 7 Online Test With Answers

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ICS Part 2 Economics English Medium Chapter 7 Online Test

Sr. # Questions Answers Choice
1 Policy of Protecton in trade Facilitates trade Protects local producers Protects foreign producers Protects exporters
2 Pakistan Importss some goods and exports other goods primarily because of. Free goods Comparative advantage Unemployment Self Sufficiency
3 Pakistan is not a memebr of IMF ECO OPEC World Bank
4 Ric countries have deficit in their balance of payments Some times Never Atternatee years Always
5 In foreign trde protection policy means. Restrictions on imports Restrictions on exports Restriction on transfer of foreign exchagne All of the above
6 Foreign Trade are Benefits developed countries Benefits underdeveloped countires Benefits all countries Benefits democretive countries
7 Foreign Trade Increses employment opportunites Increases international mobility of labour Increases competition All of the above
8 What would encorage trade betwene two countries. Reduced tariffs Quality control Differente tax system Fixing import quotes
9 What would encourage trade betwene two countries. Different tax system Frontier checks National currencies Reduce traiff
10 Govt policy about exports and imports is called. Monetary policy Fiscal policy Commercial Policy Finance policy
11 International trade and domestic trade fiffer because of. Trade restrictions Immobility of factors Difference govt Policy All of the above
12 Two countries can gain from foreign trade if Cost ratios are differnet Traiff rates are different Price ratios are different a and c above
13 All are advantages of oreign trade Except. People get foreign exchange Difference in politicla system Difference in markets Difference in ideology
14 A Triff Increase the volume trade Reduces the volume of trade Has no effect on volume of tradea a and c above
15 Net exports equal Exports x imports Exports + imports exports- imports None of the above
16 Foregn trade creates among countries. Conficits Cooperation Hatred None
17 Trade between two countries can be useful if cost ratios of goods are. Equal Different Undertimed Decreasing
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