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.Management Sciences
Category: Basic of Economics
What is called interest that is paid previously earned interest as well as on the principal ?
A. Gross interest
B. Simple interest
C. Total interest
D. Compound interest
Amount of money needed to purchase the goods and services required to maintain a certain standard of living called ?
A. Cost of living
B. Basic requirement
C. Cost of life
D. None of the above
Interest is______________?
A. Payment made for the use of another person’s money
B. Payment made for the use of bank’s money
C. Share in profit
D. Devaluation in the Currency
Rate of growth of an economy is measured in terms of________________?
A. Per capita income
B. Industrial development
C. Number of people who have been lifted above the poverty line
D. National income
Bearer cheque is ?
A. Payable to anyone
B. payable to person holding it
C. payable through account only
D. payable after specific period
What is meant by capital stock ___________?
A. Authorized amount of stock for issue by corporation
B. The total stated or par value of the permanently invested capital of corporation
C. Both of them
D. None of them
A long-term asset, such as land or building is termed as ?
A. capital asset
B. solid asset
C. solid capital
D. Future asset
What is called degree of buyer’s responsiveness to price changes ?
A. Production & Supply
B. Demand push Supply
C. Demand & Supply
D. Demand pull supply
Economic system in which the government owns and controls the means of production to benefit all the people is called ?
A. Dictatorship
B. Socialism
C. Capitalism
D. Authoritarianism
Economic development is measured on the basis of ?
A. Increase in nominal GNP
B. Increase in real GNP
C. Increase in personal income
D. Increase in government revenue
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