A. Purchasing power
B. Income level
C. Gross purchasing power
D. Purchasing power parities (PPP)
Economics Mcqs
The term Remittance refers to……………?
A. Sending of money to someone at distance
B. The sum of money sent
C. Both of them
D. None of them
A payment is made in return for some transference of privilege. What this payment is called ?
A. Royalty
B. Rent
C. Share
D. Intellectual royalty
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