Economics MCQs MCQs - General Knowledge Practice | PakExamPoint

Practise Economics MCQs MCQs in General Knowledge. Attempt multiple-choice questions, check answers and revise related subtopics.

Economics MCQs MCQs and revision practice

Study Economics MCQs through multiple-choice questions in General Knowledge. This subtopic contains 276 practice questions. Read the wording carefully, compare the options and attempt an answer before checking the solution in learning mode.

Use these Economics MCQs MCQs to identify the facts, rules or methods you need to revise. Where an explanation is available, work through it and write down why your chosen option was correct or incorrect. Revisit difficult questions after reviewing your notes, then use exam mode for timed practice.

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Economics MCQs: questions and answer review

Try each question before opening its answer. Record the concept behind each mistake and revisit it during your next practice session.

271. The World Trade Organization warned that escalating tariff imposition could lead to what potential decline in U.S.–China goods trade?

ورلڈ ٹریڈ آرگنائزیشن نے متنبہ کیا کہ ٹیرف کے نفاذ میں اضافہ امریکہ-چین کے سامان کی تجارت میں کس ممکنہ کمی کا باعث بن سکتا ہے؟

Check answer and explanation

Answer: 80%

Explanation The WTO warned that tariff imposition could lead to a potential decline of 80% in U.S.–China goods trade. This projection was made by Dr. Ngozi Okonjo-Iweala , the Director-General of the WTO, on April 9, 2025.

272. The largest Economy country in the world is which country?

دنیا کا سب سے بڑا اقتصادی ملک کون سا ملک ہے؟

Check answer and explanation

Answer: USA

Explanation The US is the First largest economy in the world. Countries ahead of the US , in the order, are: USA: $ 20.5 Trillion China: $ 3.6 Trillion Japan: $ 4.9 Trillion Germany $ 3.9 trillion India: $ 2.94 Trillion

273. Which of the following is the external aid to the interpretation of tax laws

مندرجہ ذیل میں سے کون ٹیکس قوانین کی تشریح کے لیے بیرونی امداد ہے۔

Check answer and explanation

Answer: Finance minister budget speech

Explanation Taxes law budget is presented by Finance Minister A budget is a calculation plan, usually but not always financial Sale budget taxes an estimate of future sales, often broken down into both units Revenue budget taxes consists of revenue receipts of government and the expenditure met from these revenues SH16-8-2023

274. Deficit Financing means ______?

خسارے کی مالی امداد کا مطلب ______ ہے؟

Check answer and explanation

Answer: Spending exceeds revenues

Explanation Deficit financing occurs when a government's expenditures surpass its revenues. It leading to borrowing or using reserves to cover the shortfall. This approach is often used to stimulate economic growth or fund large projects.

275. In production theory, the short run is a period?

پیداواری نظریہ میں قلیل مدت سے کیا مراد ہے؟

Check answer and explanation

Answer: During which at least one resource is fixed

Explanation In short run , some inputs are fixed and some are variable . Usually, capital (machines, land) is fixed while labour can change. Firms can increase output only by changing variable factors. This is a temporary production period. Last verified on 24-04-2026

276. PTA stands for:

PTA کا مطلب ہے

Check answer and explanation

Answer: Preferential Trade Agreement

Explanation Preferential Trade Agreement is the term used in the WTO for trade preferences, such as lower or zero tariffs, which a member may offer to a trade partner unilaterally

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