Economics MCQs

Page No. 432

The term Mark-up refers to________________?


aRise in the price of an item for sale


bAn amount added to cost price in calculating selling price


cBoth of them


dAll of them


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


cCooperative


d Corporation


View Answer Limited company

LIFO (last in, first out) means ?


a to make queue


bitems are removed in inverse order


cturn by turn


dmake space for new production



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


a Letter of intent


bLetter of Credit


cLetter of Expression


d Papers of Landing


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


bLaissez faire also Laisser faire


cOpen 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 ?


aMarket Economy


bHarvard Group


cKeynesian


d London Group


View Answer Keynesian

What is referred by interest ?


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


bpayment made for the use of bank’s money


cShare in profit


d Devaluation in the currency



Indemnity is_______________?


a Security against damages loss, or injury


bA legal exemption from liability for damages


cCompensation for damages loss, or injury suffered


d All of these


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


bCountry land


cDependent land


dParasite land


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)


bGross National output (GNO)


cGross National Product (GNP)


dGross National output



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