Economics MCQs

Page No. 432

The term Mark-up refers to________________?


aRise in the price of an item for sale

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bAn amount added to cost price in calculating selling price

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cBoth of them

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dAll of them

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View Answer Both of them

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


aLimited company

✓


bIncorporation

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cCooperative

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d Corporation

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View Answer Limited company

LIFO (last in, first out) means ?


a to make queue

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bitems are removed in inverse order

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cturn by turn

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dmake space for new production

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


a Letter of intent

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bLetter of Credit

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cLetter of Expression

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d Papers of Landing

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View Answer Letter of intent

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 Free market economy

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bLaissez faire also Laisser faire

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cOpen market economy

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d Liberal market economy

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


aMarket Economy

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bHarvard Group

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cKeynesian

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d London Group

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View Answer Keynesian

What is referred by interest ?


a Payment made for the use of another person’s money

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bpayment made for the use of bank’s money

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cShare in profit

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d Devaluation in the currency

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Indemnity is_______________?


a Security against damages loss, or injury

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bA legal exemption from liability for damages

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cCompensation for damages loss, or injury suffered

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d All of these

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View Answer 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 ?


aHinterland

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bCountry land

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cDependent land

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dParasite land

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View Answer Hinterland

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


aGross Domestic Product (GOP)

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bGross National output (GNO)

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cGross National Product (GNP)

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dGross National output

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