Description : Barter transactions means - (1) Goods are exchanged with gold. (2) Coins are exchanged for goods. (3) Money acts as a medium of exchange. (4) Goods are exchanged with goods.
Last Answer : (4) Goods are exchanged with goods. Explanation: Barter is a system of exchange where goods or services are directly exchanged for other goods or services without using a medium of exchange, ... crisis, such as when the currency may be either unstable or simply unavailable for conducting commerce,
Description : Barter transactions means (1) Goods are exchanged with gold. (2) Coins are exchanged for goods. (3) Money acts as a medium of exchange. (4) Goods are exchanged with goods.
Last Answer : Goods are exchanged with goods.
Description : Comparative advantage occurs when (a) A country can produce more goods than anyone else (b) A country has a lower opportunity cost in the production of a good than any other country © A country has more product lines than other countries (d) The exchange rate appreciates.
Last Answer : (b) A country has a lower opportunity cost in the production of a good than any other country
Description : According to Singer and Prebisch in the long run terms of trade moves in favour of ---- products and against ---- products. (a) primary, secondary (b) secondary, primary © goods, service (d) stocks, flows.
Last Answer : (b) secondary, primary
Description : (i) In barter transaction goods are exchange for ____________
Last Answer : Complete the following sentence : (i) In barter transaction goods are exchange for ____________ ( ... more than his assets is known as ___________
Description : Gains from trade can be divided into two parts (a) gains from exports and gains from imports. (b) gains from specialization and gains from exchange. © gains from consumption and gains from production. (d) gains from profit and gains from loss.
Last Answer : (b) gains from specialization and gains from exchange.
Description : For which function money is accepted as a unit of account? (a) Measure of value. (b) Store of value. © Medium of exchange. (d) Standard of deferred payment.
Last Answer : (a) Measure of value.
Description : hat posses general acceptability? (a) Bill of exchange (b) Bond © Money (d) Bank draft
Last Answer : © Money
Description : A price consumption curve, traces the utility maximizing combination of two goods when (a) the price of one good changes (b) the consumer’s preference change © the consumer’s income changes (d) the demand curve for one of the goods shifts rightward
Last Answer : (a) the price of one good changes
Description : “ All Giffen goods are inferior, but all inferior goods are not Giffen”. The statement is (a) sometimes true (b) true © false (d) none of the above
Last Answer : (b) true
Description : The quantity demanded depends on (a) its price (b) income © price of other goods (d) all of the above
Last Answer : (d) all of the above
Description : Terms of trade in developing countries are generally unfavourable because (a) They export manufacturing products. (b) They export primary products. © They export few goods. (d) Both (a) and (c).
Last Answer : (b) They export primary products.
Description : . Terms of trade is (a) the ratio of imports / exports (b) the ratio of exports/imports © the ratio of goods/services (d) the ratio of land/labour
Last Answer : (b) the ratio of exports/imports
Description : Which is not added in the calculation of national income in India? (a) The value of goods and services. (b) The sold value of old fridge. © Services rendered by the housewives (d) Both (b) and (c)
Last Answer : (d) Both (b) and (c)
Description : What are the difficulties from which the barter system of exchange suffers? -SST 10th
Last Answer : (i) Lack of double coincidence of wants. (ii) Valuations of all the goods cannot be done easily. (iii) Certain products cannot be divided.
Description : ____________ is termed as consideration in a contract of sale: A. Exchange money B. Barter money C. Price D. Reward
Last Answer : C. Price
Description : The oldest form of exchange--trading of products--is known as A)credit. B)buying. C)purchasing. D)barter. E)pricing.
Last Answer : D)barter.
Description : What do all of the following have in common: tuition, fee, premium, retainer, dues? A)They all must be paid in cash. B)They are forms of exchange similar to, but not identical with money. ... of exchange similar to, but not identical with barter. D)They are different terms for the concept of price.
Last Answer : D)They are different terms for the concept of price.
Description : In barter transactions, goods or services are purchased for other goods or services.
Last Answer : State whether the following statement are true or false with reason : In barter transactions, ... services are purchased for other goods or services.
Description : People barter and trade goods. Economic decisions are based on customs. Economies are usually rural and farm-based. Which economic system is described by the list A. mixed B. market C. traditional D. command?
Last Answer : c
Description : A Free Trade Zone is an area 1. where goods are traded free of cost 2. where goods are traded through barter 3. where there are no customs duties 4. where government controls production and distribution 5. None of these
Last Answer : where there are no customs duties
Description : What are the advantages and disadvantages of the barter system over the use of money?
Last Answer : Tax avoidance
Description : Price mechanism is a feature of - (1) Capitalist economy (2) Barter economy (3) Mixed economy (4) Socialist economy
Last Answer : (1) Capitalist economy Explanation: Price mechanism is an economic term that refers to the manner in which the prices of commodities affect the demand and supply of goods and services. It is ... that only by allowing prices to move freely will the supply of any given commodity match demand.
Description : Price mechanism is a feature of (1) Capitalist economy (2) Barter economy (3) Mixed economy (4) Socialist economy
Last Answer : Capitalist economy
Description : 'PROTECTION' means - (1) Restrictions imposed on import trade (2) Protection to home industries (3) No free exchange of goods and services between two countries (4) All of the above
Last Answer : (4) All of the above Explanation: Protectionism is the economic policy of restraining trade between states through methods such as tariffs on imported goods, restrictive quotas, and a ... protect businesses and workers within a country by restricting or regulating trade with foreign nations.
Description : Free Trade refers to - (1) free movement of goods from one country to another (2) movement of goods free of cost (3) unrestricted exchange of goods and service (4) trade free of duty
Last Answer : (1) free movement of goods from one country to another Explanation: Free trade is a policy by which a government does not discriminate against imports or interfere with exports by ... countries are determined by price strategies that may differ-from those that would emerge under deregulation.
Description : ‘PROTECTION’ means (1) Restrictions imposed on import trade (2) Protection to home industries (3) No free exchange of goods and services between two countries (4) All of the above
Last Answer : All of the above
Description : Free Trade refers to (1) free movement of goods from one country to another (2) movement of goods free of cost (3) unrestricted exchange of goods and service (4) trade free of duty
Last Answer : free movement of goods from one country to another
Description : According to Heckscher and Ohlin there are two bases of international trade (a) coparative advantage and absolute advantage (b) gains from trade and cost of trade. © difference in factor endowments and differences in factor intensities. (d) none of them.
Last Answer : © difference in factor endowments and differences in factor intensities.
Description : ” If a country enjoys an absolute advantage in the production of all commodities then also trade is possible”. Who said this? (a) Adam Smith (b) David Ricardo © J.S Mill (d) None of them.
Last Answer : (b) David Ricardo
Description : The theory of Comparative Advantage was propounded by (a) Adam Smith (b) David Ricardo © J.S. Mill (d) None of them.
Description : The theory of Absolute Advantage was propounded by (a) Adam Smith (b) David Ricardo © J. S Mill (d) None of them.
Last Answer : (a) Adam Smith
Description : High Yielding Variety of wheat was developed by (a) G.B Pant. (b) Norman Borlaug. © A.K Sen. (d) None of them.
Last Answer : (b) Norman Borlaug.
Description : To stop exploitation of actual tillers and give them permanent rights – system was introduced (a) Green revolution. (b) Land reform. © Dry land farming. (d) None of the above.
Last Answer : (b) Land reform.
Description : Zamindari , Mahalwari and Ryotwari system were based on exploitation by the (a) Middleman (b) Tenant © Worker (d) None of them.
Last Answer : (a) Middleman
Description : In India agricultural income is calculated by (a) Income method (b) Output method © Expenditure method (d) None of them.
Last Answer : (b) Output method
Description : Exchange rates for one currency against another currency, are known as: a) Real exchange rate b) Nominal exchange rate c) Superfluous exchange rate d) None of the above
Last Answer : b) Nominal exchange rate
Description : Which bank is called lender of the last resort? (a) Agricultural bank. (b) Industrial bank. © Commercial bank. (d) Central bank.
Last Answer : (d) Central bank.
Description : A period of expansion and contraction measured by real GDP is called (a) Business cycle (b) Expansion © Recession (d) Contraction
Last Answer : (a) Business cycle
Description : Which bank is called lender of the last resort? (a) Agricultural bank (b) Industrial bank © Commercial bank (d) Central bank
Last Answer : (d) Central bank
Description : Leontief’s model is open due to the fact that final demand is given from----- the system (a) within (b) outside © both (a) and (b) (d) none of the above.
Last Answer : (b) outside
Description : Factors of production in Input Output model is---- (a) one (b) two © three (d) four
Last Answer : (a) one
Description : Leontief”s model explains a----- equilibrium. (a) static (b) dynamic © both static and dynamic (d) none of the above
Last Answer : (a) static
Description : The isoquants in Input Output model is (a) convex to the origin (b) concave to the origin © l shaped. (d) straight line.
Last Answer : © l shaped.
Description : In Input Output model only----product is produced (a) One (b) Two © Three (d) Four
Last Answer : (a) One (d) Four
Description : Leontief’s input output model is based on the concept of----- (a) Consumption function (b) Partial Equilibrium © General Equilibrium. (d) All of the above.
Last Answer : © General Equilibrium.
Description : Hawkins Simon condition explains the----- condition in Input output model (a) Instability (b) Stability © Uniqueness (d) None of the above
Last Answer : (b) Stability
Description : In Leontief’s model own input coefficient’s are less than---- (a) Four (b) Three © Two (d) One
Last Answer : (d) One
Description : Isoquants in Leontief’s input- output model are (a) Variable coefficient (b) Fixed coefficient © Sometimes fixed sometimes variable (d) None of the abov
Last Answer : (b) Fixed coefficient
Description : If the production possibility curve is linear, then production is said to be subject of (a) constant opportunity cost (b) decreasing opportunity cost © Increasing opportunity cost (d) first increasing then decreasing opportunity cost.
Last Answer : (a) constant opportunity cost