A. Gross Domestic Product (GOP)
B. Gross National output (GNO)
C. Gross National product (GNP)
D. Gross National Output
Economics Mcqs
Term the group of countries that have removed all restrictions on trade among themselves?
A. Close-Trade zone
B. Free-trade zone
C. Both of them
D. None of them
Interest is…………..?
A. Payment made for the use of another person’s money
B. Payment made for the use of bank’s money
C. Share in profit
D. Devaluation in the Currency
Market in which forces of demand and supply are not in the control of government is called ?
A. Market Economy
B. Free Market
C. Both of them
D. None of them
In Planned economy’ Production and distribution of Wealth is under control of………….?
A. Private sector
B. Government
C. Bank
D. None of the above
What is called protection of domestic producers by impeding or limiting the importation of foreign goods and services ?
A. Domestication
B. Protectionism
C. Localization
D. National interest
What is Remittance……………?
A. Sending of money to someone at distance
B. The sum of money sent
C. Both of them
D. None of them
Economic system in which the government owns and controls the means of production to benefit all the people is called ?
A. Dictatorship
B. Socialism
C. Capitalism
D. Authoritarianism
What is Tariff ?
A. tax that government levy on imports
B. tax that government levy on exports
C. Both of them
D. None of them
Term the rules and particles that govern the management of an organization ?
A. Internal laws
B. By laws
C. Character
D. Memorandum of articles