1. Three basic economic problems:
a. what, which and how much
b. what, which, why
c. what, how, and for whom
d. why , where and when
Correct Option: c
2. Economic laws of:
a. Define
b. Approximate
c. Exact
d. Brief
Correct Option: b
3. Population census was held in pakistan:
a. 1994
b. 2002
c. 2006
d. 1998
Correct Option: d
4. The nature of unemployment due to mechanizatioon of agriculture is:
a. Structural
b. Seasonal
c. Industrial
d. Permanent
Correct Option: a
5. Pakistan having a:
a. Capitalistic economy
b. Socialistic economy
c. Islamic economy
d. Mixed economy
Correct Option: c
6. Unemployment rate in pakistan is:
a. between 5% and 20%
b. less than 5%
c. between 20%and 30%
d. more than 30%
Correct Option: a
7. State bank of pakistan is run by:
a. Board of governers
b. Board of manager
c. Board of bankers
d. Board of director
Correct Option: d
8. Pakistan imports these goods:
a. Machinery, petroleum, fish
b. Tea, fish, fertilizer
c. Machinery, oil, fertilizer
d. Machinery, tea, fish
Correct Option: c
9. Pakistan’s shares in the world for cotton textile is:
a. Less than 3%
b. 0.1
c. 0.2
d. 0.3
Correct Option: a
10. Pakistan is not a member of:
a. ECO
b. World bank
c. OPEC
d. IMF
Correct Option: c
11. All are advantage of foreign trade EXCEPT:
a. Nation compete
b. cheaper goods
c. both A and B
d. People get foreign exchange
Correct Option: d
12. We can increase rate of economic growth in pakistan if we increase:
a. Investment
b. Taxes
c. Imports
d. Population
Correct Option: a
13. The largest sector of pakistan economy is:
a. Industry
b. Trade
c. Agriculture
d. Transport
Correct Option: c
14. Expenditure on health as percentage of GDP is:
a. More than 12%
b. Less than 4%
c. More than 4%
d. More than 8%
Correct Option: b
15. Public spend on health is:
a. more than 3%
b. Less than 1%
c. More than 1%
d. more than 2%
Correct Option: b
16. GNP includes:
a. Gifts and donation
b. A broker’s commission
c. A loan from a bank
d. A loan from one’s parent
Correct Option: b
17. The govt. spends on education percentage of GDP:
a. 6
b. 7
c. 8
d. 5
Correct Option: d
18. Policy of protection in trade:
a. protacts local producers
b. Facilities trade
c. protects foreign producers
d. protects exports
Correct Option: a
19. Theory of comparative advantage was presented by:
a. Adam smith
b. Hicks
c. Arshad
d. Ricardo
Correct Option: d
20. The current policy rate by state bank of pakistan is _______% per annum:
a. 7.5
b. 8
c. 8.5
d. 7
Correct Option: d
21. The contribution of industry in our GDP is:
a. 0.19
b. 0.09
c. 0.29
d. 0.39
Correct Option: a
22. Forest cover in pakistan is:
a. 0.04
b. 0.02
c. 0.06
d. 0.08
Correct Option: a
23. there are stock exchanges in pakistan:
a. 3
b. 2
c. 4
d. 5
Correct Option: a
24. The major difference between perfect competition and monopolistic cometition is:
a. Free exist and entry
b. Differentiated
c. Number of firms
d. Rate of profit
Correct Option: b
25. The transformation of resoources into economic goods and series is called:
a. increasing returns
b. Production
c. Technical efficiency
d. input
Correct Option: b
26. Geographical mobility is not possible for:
a. Capital
b. Wealth
c. Land
d. Labour
Correct Option: c
27. For good production of goods wwe need factors:
a. two
b. unlimited
c. four
d. few
Correct Option: c
28. Contribution of industrial sector in pakistan’s GDP is:
a. 0.18
b. 0.28
c. 0.38
d. 0.48
Correct Option: a
29. The largest share in pakistan’s GNP is that of:
a. Services
b. Industry
c. Banking
d. Agriculture
Correct Option: d
30. Rich countries have deficit in their balance of payments:
a. Never
b. Alternative years
c. Always
d. Sometimes
Correct Option: d
31. Pakistan’s export mainly consist of products:
a. Minerals
b. Services
c. Semi-manufactured
d. Machinery
Correct Option: c
- It is a transfer payments:
- College fee
- Salary
- Pension
- Bus fare
Correct Option: c
- The largest part of national income goes to:
- Saving
- Transfer payment
- Consumption
- Investments
Correct Option: c
- Union leaders are in a better position to bargain for higher wages if demand for labour:
- Inelastic
- Elastic
- very large
- permanent
Correct Option: a
- Every country should have population:
- Fast growing
- Optimum
- Minimum
- Constant
Correct Option: b
- standard of living of workers depends upon their:
- Govt.policy
- Real wagas
- Nominal wagaes
- Average product
Correct Option: b
- Unemployment takes place because of:
- Higher education
- High population growth rate
- High demand for labour
- More exports
Correct Option: b
- Productivity of labour is measured by:
- Production per day
- Total working hours
- Production per hour
- Measuring GDP
Correct Option: c
- All labour is:
- Intelligent
- Heterogeneous
- Homogeneous
- Lazy
Correct Option: b
- A crucial role in development was assigned to:
- Government
- Profits
- Specialisation
- Tchnological changes
Correct Option: b
- Perspective planning refers to:
- Annual planning
- Structural planning
- Long-term planning
- Indicative planning
Correct Option: c
- Pakistan’s per capita income at constant prices in rupees is:
- Rs.92,000
- Rs.9,000
- Rs.32,000
- Rs.62,000
Correct Option: c
- Literacy rate in pakistan is:
- 0.57
- 0.37
- 0.47
- 0.67
Correct Option: a
- Pakistan is the _________ exporter of rice in the world:
- 2nd lrgest
- 4th largest
- 5th largest
- 3rd largest
Correct Option: d
- Manufacturing and industry now account for _____ of the income:
- 0.25
- 0.35
- 0.45
- 0.55
Correct Option: a
- The revenue generated is only15% GDP at best, and in the worst days it is:
- 13 to 14%
- 14 to 15%
- 15 to 16%
- 12 to 13%
Correct Option: d
- Ecxchange rate for currencies is determined by supply and demand in sysytem of:
- Govt.regulated
- Flexible
- Fixed exchange rate
- Constant
Correct Option: b
- If GNP of pakistan rises, it will encourage:
- Both
- Exports
- Imports
- None of these
Correct Option: a
- It helps countries to meet deficit in balance of payment:
- World bank
- UNO
- IMF
- WTO
Correct Option: c
- Pakistan exports are part of our GDP:
- 0.15
- 0.05
- 0.25
- 0.35
Correct Option: a
