A. Royalty
B. Rent
C. Share
D. Intellectual royalty
Basic of Economics
What is sales tax………….?
A. Levied on the retail price of merchandise and collected by retailer
B. Tax deducted at source
C. Tax on local produce
D. Tax on gross sale
Name the political and economic system in which the government owns and controls the means of production to benefit all the people ?
A. Communism
B. Socialism
C. Capitalism
D. Authoritarianism
A share or an interest in an enterprise, especially a financial share, is called ?
A. Share holding
B. Stake
C. Partnership
D. None of these
When supply exceeds demand, sellers must lower prices to stimulate sales, when demand exceeds supply, prices increase as buyers compete to buy goods. What this theory is called in economics?
A. Cost push theory
B. Supply and Demand theory
C. Fundamental theory
D. Ricardo’s theory
What is defined as the active management of resources to provide the greatest present benefit without comprising the potential benefits to future generations ?
A. Prudent development
B. Sustainable development
C. Managed economy
D. None of these
The term technology refers to…………..?
A. Application of science to achieve a commercial or industrial objective
B. Application of modern science in the country
C. Science based know low
D. All of these
Which of the following is referred by the phrase trade balance ?
A. Income from export
B. Difference between imports and exports
C. Income from imports
D. All of them
The mark is imposed on goods or wrappers to show that the articles bearing this mark belong to a particular trader. What is this mark called ?
A. Insignia
B. Patent mark
C. Trade Mark
D. Identification mark
Which of the following is indicated by the term unemployed ?
A. Employed only part time when one needs full time employment
B. Inadequately employed
C. Note fully used or employed
D. All of them