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Principles of Economics Icom Part 1 English Medium Online Test
| Sr. # | Questions | Answers Choice |
|---|---|---|
| 1 | The whom individuals Marshal included in definition of economics | Service of teachers People living in forests Trading professionals People living in caves |
| 2 | Who did name economics as science of satisfying unlimited wants with limited means | Marshal Adam Smith Robbins Pigou |
| 3 | To the name of which economist, canons of taxation are attributed | Adam smith Robbins Pigou Keynes |
| 4 | Which one of the following stated the canons of taxation first | Adam Smith Marshall Robbins Keynes |
| 5 | Which one of the following public expenditures is related to transport | Police Defence Railway Public education |
| 6 | Private individuals are not allowed to fullfil their needs | To get loans from the friends To get financial help from the relatives To get loans from the domestic financial institutions To print notes |
| 7 | A good thing in public finance | Expenditures are more than income Income is more than expenditure Income is equal to expenditure b and c both |
| 8 | Private individuals can get loan from | Their relatives, friends and domestic financial institutions Foreign financial agencies Foreign government International financial institutions |
| 9 | Government estimates its income and expenditures | Monthly Three monthly Six monthly Annual |
| 10 | In private finance the individuals estimate their income and expenditures | Daily Weekly Monthly Yearly |
| 11 | A good thing in private finance | Expenditures are equal to income Expenditure are more than income Income is more than expenditures a and b both |
| 12 | One of the following is not included in the branches of public finance | Public revenue Welfare of the people Public expenditure Public debt |
| 13 | Branches of public finance are | Two Three Four Five |
| 14 | Government needs public finance | For the defence of frontiers To maintain law and order in the country For the payment of salaries of government employees For the welfare of the people |
| 15 | "Public finance deals with governments revenue and expenditure and it studies how government maintains balance between its revenue and expenditures" This definition is stead by |
Dalton Armitage Smith Bastable pigou |
