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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

When the period of Kharif crop starts and when ends ?
A June September
B October-May
C May-October
D Jan-October
Correct Answer: June September
Up till now how much of the water-logged and saline land has been reclaimed ?
A 12 million acres
B 18 million acres
C 16 million acres
D 14 million acres
Correct Answer: 18 million acres
How much of the total area cultivated is under irrigation system ?
A 65%
B 70%
C 80%
D 85%
Correct Answer: 70%
Which one is the main source of foreign exchange earning ?
A textile
B foreign remittances
C agriculture
D manufacturing
Correct Answer: agriculture
Which trade theory contends that a country that initially develops and exports a new product may eventually become an importer of it and may no longer manufacture the product ?
A Theory of factor endowments
B Theory of overlapping demands
C Economies of scale theory
D Product life cycle theory
Correct Answer: Product life cycle theory
The factor endowment model of international trade was developed by ?
A Adam Smith
B David Ricardo
C John Stuart Mill
D Eli Heckscher and Bertil Ohlin
Correct Answer: Eli Heckscher and Bertil Ohlin
Interindustry trade can be explained by all of the following except ?
A high transportation costs as a proportion of product value
B different growing seasons of the year for agricultural products
C product differentiation for good such as automobiles
D high per capita incomes in exporting countries
Correct Answer: high per capita incomes in exporting countries
A product will be traded only if the pre-trade price difference between the two countries ?
A is less than the cost of transporting it between them
B is greater than the cost of transporting it between them equals the cost of transporting it between them
C equals the cost of transporting it between them
D more information in needed to answer this
Correct Answer: is greater than the cost of transporting it between them equals the cost of transporting it between them
Assume that Country A is relatively abundant in labor and Country B is relatively abundant in land Note that wages are the returns to labor and rents are the returns to land According to the factor price equalization theorem, once Country A begins specializing according to comparative advantage and trading with Country B: A. wages and rents should fall in Country A B. wages and rents should rise in Country A C. wages should rise and rents should fall in Country A D. wages should fall and rents should raise in Country A ?
A
B wages and rents should rise in Country A
C wages should rise and rents should fall in Country A
D wages should fall and rents should raise in Country A
Correct Answer: wages should rise and rents should fall in Country A
The factor endowment theory was pioneered by ?
A Adam smith
B David Ricardo
C Wassily Leontief
D Eli Heckscher and Bertil Ohlin
Correct Answer: Eli Heckscher and Bertil Ohlin
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