Economics MCQs

Page No. 431

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


aPrudent development

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bSustainable development

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cManaged economy

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dNone of these

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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?


aCost push theory

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bSupply and Demand theory

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c Fundamental theory

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d Ricardo’s theory

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


aShare holding

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b Stake

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cPartnership

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d None of these

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View Answer Stake

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


aCommunism

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b Socialism

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cCapitalism

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dAuthoritarianism

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View Answer Socialism

What is sales tax_____________?


aLevied on the retail price of merchandise and collected by retailer

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bTax deducted at source

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cTax on local produce

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dTax on gross sale

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


a Royalty

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b Rent

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cShare

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d Intellectual royalty

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View Answer Royalty

The term Remittance refers to_______________?


aSending of money to someone at distance

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bThe sum of money sent

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cBoth of them

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dNone of them

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View Answer Both of them

How is termed the ability to buy ?


aPurchasing power

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b Income level

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cGross purchasing power

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d Purchasing power parities (PPP)

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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 ?


aEncroachment

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b Monotony

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cUnipolarity

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dMonopoly

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View Answer Monopoly

The branch of economics ‘Microeconomics’ deals with______________?


asmall units, including individual companies and small group of consumers

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bEconomics of homes

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cEconomics of stock market

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dEconomics of provinces

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