Economics explores how resources are utilized and their value maximized under specific conditions. It entails a thorough examination of the production, distribution, and consumption of goods and services. GuruMCQs.com provides all updated Economics MCQs. The most frequently repeated economics MCQs section is encountered in Inspector, ASI, Sub-inspector, Constable, FPSC, PPSC, ETEA, FIA, Police, Army, Navy, Airforce, IB, MOFA, ASF, LHC, Educators, and various other competitive exams, as well as government and private job assessments. MCQs on Economics cover topics like Basic Economic MCQs, Indirect Tax and Economic Welfare, Analysis of Interest Rate Changes, Carbon Trading, Changing Market Price, and much more. Also, check Auditing MCQs with answers here.

21. Which mineral’s chief exporter is Russia?

A. Manganese
B. Rubber
C. Gold
D. Silver

22. China is the chief exporter of_______________?

A. Rubber
B. Manganese’s
C. Rice
D. Gold

23. Of which mineral’s chief exporter is Mexico ?

A. Tin
B. Silver
C. Aluminum
D. Gold

24. Which country is the chief exporter of Tin ?

A. Malaysia
B. China
C. Russia
D. USA

25. Barter is the trade of goods or services with ?

A. free exchange of money
B. exchange of services
C. exchange of goods and services
D. None of them

26. Goods and monies from which future income can be derived is called ?

A. Net assets
B. Assets
C. Holdings
D. Capital

27. Crop grown for sale is called?

A. Business Crop
B. Cash crop
C. Money Crop
D. Earning Crop

28. A country can still gain from trading certain goods even though its trading partners can produce those goods more cheaply. How is known this principle?

A. Relative Advantage
B. Complete Advantage
C. Comparative Edge
D. Comparative Advantage

29. What are called goods that satisfy human wants through their direct use ?

A. cash goods
B. consumer items
C. consumer goods
D. cash items

30. Term the sole legal right to print or publish anything that belongs to the author ?

A. property right
B. Sole right
C. Copyright
D. rights