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Economics Mcqs 4423 MCQs [All-Courses]

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.

In Planned economy’ Production and distribution of Wealth is under control of_____________?

A Private sector

B Government

C Bank

D None of the above

Review Detailed Answer

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

Review Detailed Answer

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

Review Detailed Answer

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

Review Detailed Answer

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

Review Detailed Answer

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

Review Detailed Answer

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

Review Detailed Answer

Correct Answer: Four Tigers

Minimum price of a commodity fixed by government to save the interest of producer of raw materials is called ?

A Floor price

B Fixed price

C Bid Price

D Basic Price

Review Detailed Answer

Correct Answer: Floor price

What is meant by excise?

A A tax levied on certain articles produced and consumed in a country

B A licensing charge or a fee levied for certain privileges

C Both of them

D None of them

Review Detailed Answer

Correct Answer: Both of them

Restriction on import or export of specified or all goods with a foreign nation by the Government is called ?

A Embargo

B Contraband

C Ban

D Restriction

Review Detailed Answer

Correct Answer: Embargo

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Economics Mcqs 4423 MCQs [All-Courses]

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All Topics 4423

In Planned economy’ Production and distribution of Wealth is under control of_____________?

Market in which forces of demand and supply are not in the control of government is called ?

Interest is______________?

Term the group of countries that have removed all restrictions on trade among themselves?

During a given period how the economic activity of a nation is measured?

What is called the trade without restriction of tariffs, quotas, or foreign exchange controls ?

Group of Singapore, Hong, Kong, Taiwan, and south Korea is called?

Minimum price of a commodity fixed by government to save the interest of producer of raw materials is called ?

What is meant by excise?

Restriction on import or export of specified or all goods with a foreign nation by the Government is called ?