12th Class Economics MCQS
According to Hecsher and Ohlin basic cause of international trade is
Difference in ideology
Difference in factor endowments
Difference in markets
Difference in political system
Pakistan produces of its oil requirements
30%
50%
20%
40%
How features of developing economics
15
14
13
12
Which of the following is NOT a characteristic of underdeveloped countries
Low growth rate of GDP
Low educational levels
Low population growth rate
Low per capita income
How many merits ofsocialism
7
6
5
8
If saving exceed investment then
National income is not affected
National income falls
National income rises
None of the above
Paper money come int use
2000 years ago
200 years ago
1000 years ago
100 years ago
International trade and domestic trade differ because of
All of the above
Immobility of factors
Different government policies
Trade restrictions
Average growth rate of Pakistan s national income in past five years have been
34%
24%
4%
14%
In a free trade world in which no restrictions exist international trade will lead to
Decreased efficiency
Reduced real GDP
Reduced real living standard
Increased efficiency
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