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	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
2	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
3	The trade that takes place between the inhabitants of two countries is called	Domestic trade International trade National trade Regional Trade
4	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
5	" 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
6	During depression, increases	Unemployment Employment Profit Production
7	The innovation theory of trade cycles was presented by	Hayek Hawtray Schumpeter Pigou
8	According to Prof. Jugglar a trade cycle comletes in	Five to six years Nine to ten years Ten to eleven years Eleven to twelve years
9	According to Prof. Kitchen a trade cycle completes in	Two years six months Three years or Fifty years Fifty years or Sixty years Sixty years or Seventy years
10	During the phase of recovery prices, wages, interest rate and profits	Start falling gradually Start rising gradually are highest are lowest
11	During the phase of boom level of income and employment is	Increasing Decreasing Highest Lowest
12	During the phase of recession prices of goods	Start rising Start falling are highest are lowest
13	Which phase starts with the increase in expected rate of profit	Depression Recovery Boom Recession
14	During recession demand for factors of production is	More Limited Very low Too much
15	Economy gets prosperity during	Recession Depression Boom Recovery

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