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Economics Mcqs 4423 MCQs [All-Courses]

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Economics MCQs cover fundamental concepts of microeconomics and macroeconomics, including demand and supply, inflation, national income, and economic policies.
This section is designed to strengthen analytical skills and conceptual understanding for competitive examinations.
Highly useful for PPSC, FPSC, NTS, OTS, KPPSC, and other testing services preparation.

All Topics  4423

Economic system in which the government owns and controls the means of production to benefit all the people is called ?
A Dictatorship
B Socialism
C Capitalism
D Authoritarianism
Correct Answer: Authoritarianism
What is Remittance_______________?
A Sending of money to someone at distance
B The sum of money sent
C Both of them
D None of them
Correct Answer: Both of them
What is called protection of domestic producers by impeding or limiting the importation of foreign goods and services ?
A Domestication
B Protectionism
C Localization
D National interest
Correct Answer: Protectionism
In Planned economy’ Production and distribution of Wealth is under control of_____________?
A Private sector
B Government
C Bank
D None of the above
Correct Answer: Private sector
Market in which forces of demand and supply are not in the control of government is called ?
A Market Economy
B Free Market
C Both of them
D None of them
Correct Answer: Both of them
Interest is______________?
A Payment made for the use of another person’s money
B Payment made for the use of bank’s money
C Share in profit
D Devaluation in the Currency
Correct Answer: Payment made for the use of another person’s money
Term the group of countries that have removed all restrictions on trade among themselves?
A Close-Trade zone
B Free-trade zone
C Both of them
D None of them
Correct Answer: Both of them
During a given period how the economic activity of a nation is measured?
A Gross Domestic Product (GOP)
B Gross National output (GNO)
C Gross National product (GNP)
D Gross National Output
Correct Answer: Gross National product (GNP)
What is called the trade without restriction of tariffs, quotas, or foreign exchange controls ?
A Open trade
B Free trade
C Open sky trade
D Easy trade
Correct Answer: Free trade
Group of Singapore, Hong, Kong, Taiwan, and south Korea is called?
A Four Dragons
B Little Tigers
C Four Tigers
D All of these
Correct Answer: Four Tigers
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