171. How is termed the ability to buy ?
A. Purchasing power
B. Income level
C. Gross purchasing power
D. Purchasing power parities (PPP)

172. The term Remittance refers to_______________?
A. Sending of money to someone at distance
B. The sum of money sent
C. Both of them
D. None of them

173. A payment is made in return for some transference of privilege. What this payment is called ?
A. Royalty
B. Rent
C. Share
D. Intellectual royalty

174. What is sales tax_____________?
A. Levied on the retail price of merchandise and collected by retailer
B. Tax deducted at source
C. Tax on local produce
D. Tax on gross sale

175. Name the political and economic system in which the government owns and controls the means of production to benefit all the people ?
A. Communism
B. Socialism
C. Capitalism
D. Authoritarianism

176. A share or an interest in an enterprise, especially a financial share, is called ?
A. Share holding
B. Stake
C. Partnership
D. None of these

177. When supply exceeds demand, sellers must lower prices to stimulate sales, when demand exceeds supply, prices increase as buyers compete to buy goods. What this theory is called in economics?
A. Cost push theory
B. Supply and Demand theory
C. Fundamental theory
D. Ricardo’s theory

178. What is defined as the active management of resources to provide the greatest present benefit without comprising the potential benefits to future generations ?
A. Prudent development
B. Sustainable development
C. Managed economy
D. None of these

179. The term technology refers to______________?
A. Application of science to achieve a commercial or industrial objective
B. Application of modern science in the country
C. Science based know low
D. All of these

180. Which of the following is referred by the phrase trade balance ?
A. Income from export
B. Difference between imports and exports
C. Income from imports
D. All of them


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