Basic Concepts of Economics MCQs

Goods and monies from which future income can be derived is called ?

A. Net assets
B. Assets
C. Holdings
D. Capital

Crop grown for sale is called?

A. Business Crop
B. Cash crop
C. Money Crop
D. Earning Crop

What are called goods that satisfy human wants through their direct use ?

A. cash goods
B. consumer items
C. consumer goods
D. cash items

Term the sole legal right to print or publish anything that belongs to the author ?

A. property right
B. Sole right
C. Copyright
D. rights

What is Debt Service ?

A. Interest payments on external debts
B. repayments of external debt
C. none of these
D. Both of them

What is called the reduction in the rate of a currency

A. Devolution
B. Devaluation
C. Price cap
D. Cut-rate

Which kind of Tax is Federal subject ?

A. Excise Tax
B. Property Tax
C. Zakat
D. General Sales Tax

Downsizing is ?

A. to make in a smaller size
B. to make in actual size
C. To make in half size
D. None of these

Restriction on import or export of specified or all goods with a foreign nation by the Government is called ?

A. Embargo
B. Contraband
C. Ban
D. Restriction

Minimum price of a commodity fixed by government to save the interest of producer of raw materials is called ?

A. Floor price
B. Fixed price
C. Bid Price
D. Basic Price

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