Basic of Economics – MCQs

424 questions. Click to practice.

Correct options are highlighted when revealed.

1.What does the term 'trade name' refer to?

2.What is the name of a bank deposit that cannot be withdrawn until the predetermined maturity date?

3.What is the name of the tax imposed by the government on goods that are imported or exported?

4.Which economic theory emphasizes boosting production by lowering taxes?

5.A subsidy is defined as financial aid provided by the government to an individual or group to support an activity considered beneficial to the public. Which of the following best represents an example of a subsidy?

6.What is the term for participating in a high-risk venture with the goal of earning substantial profits quickly?

7.What best describes the social security program offered by the government?

8.What is the term for a nation's stock of officially approved payment instruments?

9.How is the exchange rate defined?

10.Which entities are included within the public sector?

11.What term describes the practice of shielding local manufacturers by restricting or controlling the entry of imported foreign products and services?

12.What do you call a written commitment to repay a certain amount of money either on demand or at a specified date?

13.What does the term 'price support' refer to?

14.Which of the following best describes the concept of price fixing?

15.What defines a planned economic system?

16.What term describes the principle of equal trading opportunities without granting exclusive privileges or monopolies to any single nation?

17.What is the term for the total net value of all goods and services produced within a country during a specific time frame?

18.What is the term for the investment vehicle that regularly issues new shares, repurchases existing shares upon request, and pools capital to invest in a variety of securities from different companies?

19.What term is used to describe a company or corporation that has subsidiaries, investments, or operations in multiple countries?

20.What does the term 'monoculture' refer to in agriculture?