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


bSustainable development


cManaged economy


dNone 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?


aCost push theory


bSupply and Demand theory


c Fundamental theory


d Ricardo’s theory



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


aShare holding


b Stake


cPartnership


d None of these


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


b Socialism


cCapitalism


dAuthoritarianism


View Answer Socialism

What is sales tax_____________?


aLevied on the retail price of merchandise and collected by retailer


bTax deducted at source


cTax on local produce


dTax on gross sale



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


a Royalty


b Rent


cShare


d Intellectual royalty


View Answer Royalty

The term Remittance refers to_______________?


aSending of money to someone at distance


bThe sum of money sent


cBoth of them


dNone of them


View Answer Both of them

How is termed the ability to buy ?


aPurchasing power


b Income level


cGross purchasing power


d Purchasing power parities (PPP)



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


b Monotony


cUnipolarity


dMonopoly


View Answer Monopoly

The branch of economics ‘Microeconomics’ deals with______________?


asmall units, including individual companies and small group of consumers


bEconomics of homes


cEconomics of stock market


dEconomics of provinces



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