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Latest Economics MCQs – Basics Of Economics MCQs ( Economics ) MCQs

Latest Economics MCQs – Basics Of Economics MCQs ( Economics ) MCQs

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Latest Economics MCQs

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Latest Basics Of Economics Mcqs ( Economics ) Mcqs

The most occurred mcqs of Basics Of Economics Mcqs ( Economics ) in past papers. Past papers of Basics Of Economics Mcqs ( Economics ) Mcqs. Past papers of Basics Of Economics Mcqs ( Economics ) Mcqs . Mcqs are the necessary part of any competitive / job related exams. The Mcqs having specific numbers in any written test. It is therefore everyone have to learn / remember the related Basics Of Economics Mcqs ( Economics ) Mcqs. The Important series of Basics Of Economics Mcqs ( Economics ) Mcqs are given below:

In the context of contracts, what refers to secret payments made to ensure that the contract goes to a specific firm ?

A. kickback
B. Bribe
C. Commission
D. Graft

A seller of goods or services writes a bill that is submitted to a purchaser for payment. What this bill is called?

A. Draft
B. Demand draft
C. Invoice
D. Bill of Intent

A company’s first sale of stock to the public is called ?

A. First Public Offering
B. Public Offering
C. Initial Public Offering (IPO)
D. Going Public

Name a corporation that owns enough voting stock in another firm to control management and operations by influencing of electing its board of directors ?

A. Father company
B. Mother company
C. Holding company
D. joint company

Mention a mutual fund that is invested primarily in stocks with a history of and future potential for capital gains ?

A. Stock fund
B. Common fund
C. Growth fund
D. Capital growth fund

Term a large payment to a senior employee who is forced into retirement or fired as a result of takeover or similar development ?

A. Golden shake hand
B. Golden bonus
C. Friendly handshake
D. Golden handshake

A country’s fundamental system of transportation, communications, and other aspects of its physical capabilities are called ?

A. Infrastructure
B. Fundamentals
C. Basic structure
D. Basic infrastructure

What is called the acquisition abroad of physical assets with operating control that resides in parent corporation ?

A. Foreign Investment
B. Foreign Direct Investment (FDI)
C. Fixed Direct Investment
D. Remote Foreign Investment

What is called a country’s decision to allow its currency value to change freely?

A. Liberal exchanged rate
B. Floating exchange rate
C. Pegged exchange rate
D. Open exchange rate

A firm owns long-lived property that is used by a firm in the Production of its income. What this property is called ?

A. Fixed property
B. Unmovable asset
C. Production line
D. Fixed asset

Name the methodology by which members of the EMS maintain their currency exchange rates within an agreed upon range with respect to other member countries ?

A. Exchange Rate Mechanism (ERM)
B. Exchange Rate Balance
C. Exchange Rate Equilibrium
D. None of the above

What is called that bank which regularly accepts foreign currency-denominated deposits and makes foreign currency-denominated deposits and makes foreign currency loans ?

A. International Bank
B. Foreign bank
C. Eurobank
D. Multinational Bank

Investment funds are established for the supports of institutions such as hospitals investment is called ?

A. Attached funds
B. Charity funds
C. Endowment funds
D. Investment fund

What is called degree of buyer’s responsiveness to price changes ?

A. Demand push Supply
B. Production & Supply
C. Demand & Supply
D. Demand pull supply

Term a tax or duty rebate on imported goods that are exported at a later date ?

A. Duty
B. Rebut
C. Custom
D. Drawback

Deregulation is the reduction of government’s role in controlling markets. Which of the following is result(s) of deregulation ?

A. Lead to a more efficient marketplace
B. Lead to freer market
C. Both of them
D. None of them

Mention the theory of inflation or price increase that results from so-called excess demand ?

A. Cost-push inflation
B. Demand curve theory
C. Demand-pull inflation
D. Demand push inflation

What is called when government spending overwhelms government revenue resulting in government borrowing ?

A. Deficient financing
B. Budget deficit
C. Unbalanced spending
D. Deficit spending

What is called interest payments plus repayments of principal to creditors ?

A. Debt relief
B. Debt retirement
C. Debt service
D. Payback

Name a default on debt and obligations by a major financial institution that disrupts the stability of the economic system ?

A. Bad debt
B. Debt bomb
C. Debt blast
D. None of them

What is called the manipulation of the market by traders to create the illusion of active volume to attract investors ?

A. Illusion
B. Daisy chain
C. False market
D. Manipulated market

What is called the centers around the ability of a national economy to generate enough interests and principal on its foreign debt ?

A. Country economic risk
B. National economic risk
C. Country finance risk
D. Foreign exchange risk

What is referred a group of companies that cooperate and share resources in order to achieve a common objective ?

A. Consortium
B. Incorporation
C. Pool
D. Conglomerate

Term a film that is engaged in two or more unrelated businesses ?

A. Conglomerate
B. giant
C. Multinational
D. Incorporation

What is called that executive who is brought in to turn a company around and make it profitable ?

A. Company doctor
B. Savior
C. Super manager
D. Manager doctor

Which of the following is Price of the last transaction of a particular stock completed during a day’s trading session on an exchange ?

A. End price
B. Closing Price
C. Night Price
D. Final price

From the sale of capital assets tax is levied on profits. What this tax is called ?

A. Excise duty
B. Capital gains tax
C. Profit tax
D. Capital tax

The French term Bourse refers to_________________?

A. Joint-stock
B. Stock market
C. A big company
D. A multinational company

Name the price at which the issuer of a bond may retire part of the pond at a specified call date ?

A. Call price
B. Term Price
C. Bid price
D. Future Price

Term the covering of a short position by purchasing a long contract, usually resulting from the short of a commodity ?

A. Drawback
B. Buyback
C. Short-positioning
D. None of them

Microeconomics MCQs

Shareholders of a corporation elect individuals to carry out certain tasks that are establishment in the charter. What these individuals are called ?

A. Board of Governor
B. Management
C. Top brass
D. Board of Directors

Which of the following are bonds that are not registered on the books of the issuer ?

A. Blank bond
B. Open bond
C. Term bond
D. Bearer bond

What is called the price that a potential buyer is willing to pay for a security ?

A. Bid
B. Quote price
C. Offer price
D. None of these

Which market is called Bear market ?

A. A very big market
B. Market with a prolonged period of falling stock prices
C. Market with upward and stock prices.
D. A very big industrial market

An outside professional conducts an examination of company’s accounting records in order to determine whether the company is maintaining records according to the generally accepted accounting principles. What this examination is called ?

A. Stock-taking
B. Audit
C. Checking
D. Accounting

What is artificial currency ?

A. A currency substitutes
B. De-valued currency
C. Coins
D. Silver

Estimated value that is added to a product or material to each stage, of its manufacture or distribution, is known as ?

A. Excise
B. Value addition
C. Value added
D. Tax on stage

Which of the following is indicated by the term unemployed ?

A. Inadequately employed
B. Employed only part time when one needs full time employment
C. Note fully used or employed
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. Patent mark
B. Insignia
C. Trade Mark
D. Identification mark

Which of the following is referred by the phrase trade balance ?

A. Income from imports
B. Difference between imports and exports
C. Income from export
D. All of them

The term technology refers to______________?

A. Application of science to achieve a commercial or industrial objective
B. Science based know low
C. Application of modern science in the country
D. All of these

What is defined as the active management of resources to provide the greatest present benefit without comprising the potential benefits to future generations ?

A. Managed economy
B. Sustainable development
C. Prudent development
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. Fundamental theory
B. Supply and Demand theory
C. Cost push theory
D. Ricardo’s theory

A share or an interest in an enterprise, especially a financial share, is called ?

A. Partnership
B. Stake
C. Share holding
D. None of these

Name the political and economic system in which the government owns and controls the means of production to benefit all the people ?

A. Capitalism
B. Socialism
C. Communism
D. Authoritarianism

What is sales tax_____________?

A. Levied on the retail price of merchandise and collected by retailer
B. Tax on local produce
C. Tax deducted at source
D. Tax on gross sale

A payment is made in return for some transference of privilege. What this payment is called ?

A. Royalty
B. Share
C. Rent
D. Intellectual royalty

The term Remittance refers to_______________?

A. The sum of money sent
B. Sending of money to someone at distance
C. Both of them
D. None of them

How is termed the ability to buy ?

A. Income level
B. Purchasing power
C. Gross purchasing power
D. Purchasing power parities (PPP)

By the way of an underwriter, the sale of a new security is issued to the public a transaction that must be registered with the securities and exchange commission. How is know this process ?

A. Going public
B. Registering
C. Debuting
D. Public offering

The term prospectus refers to______________?

A. Document describing chief features of something for participants
B. Formal summary of proposed project
C. Both of them
D. None of them

Which term is used for the period of competition in which each competitor tries to cut retail prices below the others ?

A. Price support
B. Price competition
C. Price war
D. Price battle

A number of relating prices of a group of commodities to their prices during an arbitrarily chosen based period is called ?

A. Price index
B. Price fixing
C. Price indexing
D. Price choosing

Production Factors MCQs

Which term is used for the value imprinted on a security ?

A. Net value
B. Real value
C. Par value
D. Gross value

What is called the amount of non-military foreign aid which a country received ?

A. Foreign aid
B. Official Development Assistance (ODA)
C. Grands
D. Friendly aid

What is called the result of a state’s borrowing from its population, from foreign governments or from international institutions ?

A. Public debt
B. National debt
C. Both of them
D. None of them

What is mortgage______________?

A. Conveyance of property as security for debt
B. Guarantee for debt
C. Conveyance of company security for debt
D. Assurance of debt repayment

Term the exclusive right of one or more persons to carry on some branch of trade of manufacture It is a sole power of dealing in something

A. Encroachment
B. Unipolarity
C. Monotony
D. Monopoly

The branch of economics ‘Microeconomics’ deals with______________?

A. small units, including individual companies and small group of consumers
B. Economics of stock market
C. Economics of homes
D. Economics of provinces

The term Mark-up refers to________________?

A. An amount added to cost price in calculating selling price
B. Rise in the price of an item for sale
C. Both of them
D. All of them

Name the company in which the liability of the shareholders is limited to the amount of their shares ?

A. Limited company
B. Cooperative
C. Incorporation
D. Corporation

LIFO (last in, first out) means ?

A. turn by turn
B. items are removed in inverse order
C. to make queue
D. make space for new production

Termed the written statement which expresses the intention of undersigned to enter into a formal agreement ?

A. Letter of intent
B. Letter of Expression
C. Letter of Credit
D. Papers of Landing

Which economics doctrine opposes government regulation or interference in commerce beyond the minimum necessary for a free enterprise system to operate according to its own economics laws and non-interference in affairs of others ?

A. Open market economy
B. Laissez faire also Laisser faire
C. Free market economy
D. Liberal market economy

How is termed the economic theories or Maynard Keynes especially those which advocate government monetary and fiscal and stimulate business activity ?

A. Harvard Group
B. Market Economy
C. Keynesian
D. London Group

What is referred by interest ?

A. Payment made for the use of another person’s money
B. Share in profit
C. payment made for the use of bank’s money
D. Devaluation in the currency

Indemnity is_______________?

A. A legal exemption from liability for damages
B. Security against damages loss, or injury
C. Compensation for damages loss, or injury suffered
D. All of these

Mention the name for that urban and rural region which is closely associated economically with an adjoining town or city. Term is also used to describe the area that is serviced by a port or coastal settlement ?

A. Hinterland
B. Dependent land
C. Country land
D. Parasite land

By Which scale the value of all economic activity produced by a nation during a given period is measured ?

A. Gross National output (GNO)
B. Gross Domestic Product (GOP)
C. Gross National Product (GNP)
D. Gross National output

The system under which a country’s currency is exchangeable for a fixed weight of gold on demand at central bank is called ?

A. God standard system
B. Bullion standard system
C. Gold based system
D. None of the above

What is called a group of countries that have removed all tariffs, quotas, and export subsidies on trade among themselves ?

A. Free trade zone
B. Close-trade zone
C. Both of them
D. None of them

The amount that is paid for carriage of goods by chips, railways, airways etc is called ?

A. Rent
B. Hire and Fire
C. Transportation Changes
D. Freight

What does mean by Franchise__________________?

A. Authorization granted to someone to sell or distribute a company’s goods or service in certain area
B. A privilege or right officially granted by a person or group by a government
C. Territory or limits within which immunity, privilege or right may be exercised
D. All of the above

An act of altering of a written or printed document with intentions of deceiving anyone is called________?

A. Fraud
B. Forgery
C. Cheating
D. Fraudulent

Long Term Economic Growth MCQs

What is called the minimum price of a commodity that is fixed by government in order to save the interests of producer of raw materials ?

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

Name the method of inventory accounting in which the oldest remaining items are assumed to have been first sold ?

A. FIFO (first in first out)
B. First come First serve
C. LAFO (last in first out)
D. None of these

What is called a country’s total financial obligations to the rest of the world ?

A. Debt burden
B. Total dept
C. National liabilities
D. External debt

There is method by which one currency is bought, sold or valued in terms of other currencies, gold or accounting units such as the Special Drawing Right of IMF. What is it called ?

A. Currency exchange
B. Currency value
C. Currency rate
D. Exchange rate

Endorsement means anything written upon the back of the document What does means by Endorse ?

A. To verify the person holding cheque
B. To verify signature
C. To sign one’s name upon the back of cheque
D. To sign one’s name upon the front of cheque

Which money is called ‘Earnest’ Money ?

A. A token of something to come
B. Advanced payment to bind a contract or bargain
C. A promise or assurance
D. All of these

Downsizing is______________?

A. to make in a smaller size
B. to make in a half size
C. to make in a actual size
D. None of the above

Different workers or group of workers separate the production works and trade into__________processes. What this separation is called?

A. Closed shop
B. Divided Labor
C. Division of Labor
D. Open shop

What is referred by the discount rate________________?

A. State (central) Bank’s interest rate on loans to its member banks
B. Advance deduction of the interest in purchasing, selling or lending a commercial paper
C. Both of them
D. None of them

What does mean by Deed________________?

A. legal instrument used to grand a right
B. legal instrument
C. Something done
D. none of the above

Depression is a drastic decline in a national or international economy. It’s characteristic is_____________?

A. Falling prices
B. Decreasing business activity
C. Unemployment
D. All of these

What is Demand note ?

A. Draft payable in lawful money upon demand
B. Security payable in lawful money upon demand
C. Cheque payable in lawful money upon demand
D. Term deposit payable in lawful money upon demand

Which term is used for a bank account which can be operated at will ?

A. Fixed account
B. Saving Account
C. Current account
D. Fluctuated account

Cost of production plus a fixed rate of profit is called ?

A. cost plus
B. End price
C. Cost effective
D. Consumer price

What is the cost effective ?

A. Substandard things
B. Cheap things
C. Economical in terms of the goods or services received for the money spent
D. Free in terms of the goods or services received for the money spent

Name the organization in which people are associated together for a common purpose under a common name. This organization is recognized and created by law ?

A. Cooperative
B. Corporation
C. Company
D. Limited Company

Term the enterprise or organization which is managed by those who use its facilities or services ?

A. Society
B. Limited company
C. Corporation
D. Cooperative

Goods that satisfy human wants though their direct use or consumption are called______________?

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

A country can still gain from trading certain goods even though its trading partners can produce those goods more cheaply. How is known this principle ?

A. Complete Advantage
B. Relative Advantage
C. Comparative Edge
D. Comparative Advantage

What is called a place of work where all workers within a section must belong to a single official recognized trade union ?

A. Monopolized area
B. Monopolized shop
C. Closed shop
D. Monopolized market

Find out the term for the purpose that a buyer must pay for the goods at the time of its delivery ?

A. payment on Delivery
B. Barter
C. Gives in take
D. Cash on Delivery

The term Cartel refers to ?

A. Unity of parties, factions or nations in a common cause
B. An official agreement between governments at war, especially for exchange of prisoners
C. A combination of firms for business purposes
D. All of the above

Point out the term for producer goods such as machinery that is used in production of commodities ?

A. Running capital
B. Capital assets
C. Capital goods
D. Hard capital

What is meant by capital stock ___________?

A. The total stated or par value of the permanently invested capital of corporation
B. Authorized amount of stock for issue by corporation
C. Both of them
D. None of them

Term the body of goods and monies from which future income can be derived ?

A. Solid asset
B. Net assets
C. Holdings
D. Capital

What is called the sequence of economic activity which is typically characterized by recession, fiscal recovery, growth and fiscal decline ?

A. Complete Cycle
B. Business Cycle
C. Economic Cycle
D. Cycle Business

How is termed the balance of investment and return; in which investment and return are exactly equal ?

A. Breakeven point
B. Break even
C. Both of them
D. None of them

Which term is used for an addition to normal payment by a company or extra payment of gratuity to workers ?

A. Bonus
B. Prize
C. Overtime
D. Gift

A stock that sells at a high price because of public confidence in its long record of steady earnings is called ?

A. Blue Chipper
B. Blue chip
C. An extremely valuable asset or property
D. All of these

What is called the trade of goods or services without the exchange of money ?

A. Liberal Exchange
B. Free exchange
C. Barter
D. Bilateral Trade

How is termed the legal proceeding in which debtor remains unable to pay his creditors in full ?

A. Bankruptcy
B. Total loss
C. Default
D. Crash

What is called the difference in the money value between exports and imports during the specific period of time ?

A. Balance sheet
B. Balance of payment
C. Terms of trade
D. Balance of trade

The exchange rate is the ratio at which the currency of one country is exchanged for the currency of another. Which method was developed by the World bank to exchange rates ?

A. Free market exchange rate
B. Breton Wood method
C. Atlas method of exchange rate
D. Open market exchange rate

Account is format banking, brokerage or business relationship established to provide for regular services. dealings and other financial transactions. Which of the following phenomenon(s) are also referred by term, Account ?

A. Money deposited for checking savings or breakage use
B. A precise list or enumeration of financial transactions
C. A customer having business or credit relationship with a firm
D. All of these

Latest Economics MCQs – Basics Of Economics MCQs ( Economics ) MCQs