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	One of the following is not the difficulty of the barter system	Indivisibility of goods Lack of common measure of value Double coincidence of wants Lack of store of value
2	Exchange of goods with goods is called	Medium of exchange Store of exchange Scale of measure of exchange Barter system
3	Net foreign income is	Exports - imports Exports + imports Income received by exports Income received by imports
4	Transfer payment means that income	Which can move from one place to order place i.g. money etc. Which is received without labour, e.g. Zakat, gift , pension etc Which is received after hardwork Which is received by exports
5	Expenditures of repair of machines are called	Unproductive expenditures Productive expenditures Rewards Depreciation allowance
6	Disposable personal income is equal to	Personal income + direct taxes Personal income + indirect taxes Personal income + direct and indirect taxes Personal income - direct taxes
7	Transfer payments are included in	Gross domestic income National income Disposable personal income Personal income
8	If we subtract direct taxes from personal income, we get	Net national income Net domestic income Disposable personal income Personal savings
9	Method of measuring national income	National income=Gross national product - depreciation allowance National income= Net national product - Indirect costs National income= Net national product + subsidies National income= Net national product - indirect taxes + subsidies
10	One of the following is not included in net national product	Consumer goods Capital goods Capital formation Consumer goods and capital goods
11	According to Pigou national income is that part of material wealth	Which can be stored easily Which can be measured by the scale of money Which have volume and surrounds Which is exported
12	Which thing should be added in net national product to get gross national product	Direct taxes Indirect taxes Depreciation allowance Subsidies
13	Which thing of the following should be subtracted from gross national product to get net national product	Direct taxes Indirect taxes Depreciation allowance Income received from foreign country
14	national income is found by	Subtracting depreciation allowance from gross national product Subtracting indirect taxes from net national product Adding subsidies in net national product Subtracting indirect taxes and adding subsidies in net national product
15	National income means the income	Which central government earns during a year Which provincial government earn during a year Total wealth of a country Rewards which the factors of production get during a year

Download This Set