11th Class ICom Part 1 Principles of Economics Chapter Wise Online MCQ Test With Answers PDF English Medium

Principles of Economics Icom Part 1 English Medium Online Test

Sr. #	Questions	Answers Choice
1	If the rate of tax does not change with decrease or increase in the level of income, is called	Proportional tax Progressive tax Regressive tax value added tax
2	If a person does not pay the amount of the tax from his own pocked on whom it is levied rather shifts its barden on some other person, then it is called	Direct tax Indirect tax Proportional tax Progressive tax
3	If the person has to pay the tax on whom it is levied, then it is called	Direct tax Indirect tax Proportional tax Progressive tax
4	Total number of canons of taxation stated by different economists is	Seven Nine Eleven Twelve
5	One of the following is not included in the public expenditures	Courts Fee Public administration Defence
6	One of the following is not included in the sources of public revenue	Tax Fee Defence Fines
7	Adam Smith presented the basic canons of taxation	Two Three Four Five
8	The base of international trade theory of Adam Smith is	Absolute advantage Comparative cost Cheaper cost Low cost
9	The base of international trade theory of Devid Ricardo is	Absolute advantage Comparative cost Cheaper cost Low cost
10	The record of visible and invisible items on international account is called	Balance of payment Balance of trade Balance of budget Capital account
11	Balance of payments is annual statistical record of	Visible goods Invisible goods Foreign loans Visible and invisible goods
12	The exchange of goods and services from country to country is called	Foreign National trade Corporate trade Domestic trade
13	According to comparative cost theory conditions ------------- in goods and labour market exist	of monopoly of duopoly Monopolistic competition of perfect competition
14	Which economist has stated the definition of balance of payments	Robbins Kindleberger Marshall Keynes
15	Which economist explained the absolute difference of cost of two good between two countries	Malthus Adam Smith Ricardo J.S Mill

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