Economics Practice Quiz 102

Q1.Who are the people that are somewhere in between in terms of earnings in the market?

A. The workers at the garment export factory and the small cotton farmer B. The garment exporter and the businessperson C. The merchants and the weavers D. The buyers at the supermarket

Q2.Which group receives the maximum earnings from the market?

A. People who have money and own factories, large shops, and large land holdings B. Small farmers who grow crops on their own land C. Weavers who work in the putting out system D. Workers employed in garment factories

Q3.What is the role of a Ginning mill in the production of cotton?

A. To spin the cotton into thread B. To weave the cotton into cloth C. To remove seeds from cotton bolls and press them into bales D. To export cotton to other countries

Q4.Who sells shirts to the businessperson from the USA?

A. The garment exporter B. The trader C. The weaver D. The merchant

Q5.What is the definition of profit?

A. The amount that is left or gained from earnings after deducting all the costs B. The amount that is spent on producing goods C. The amount that is earned from selling goods D. The amount that is lost due to costs being more than earnings

Q6.Who gives yarn to the weavers?

A. The spinning mill B. The yarn dealer or merchant C. The garment exporter D. The trader

Q7.What is the role of the spinning mill in the production of cotton?

A. To remove seeds from cotton bolls and press them into bales B. To spin the cotton into thread and sell yarn to the yarn dealers C. To weave the cotton into cloth D. To export cotton to other countries

Q8.Who buys the cloth from merchants for making shirts?

A. The garment exporter B. The trader C. The weaver D. The spinning mill

Q9.According to the table, which year recorded the highest power shortage percentage in India?

A. 1991 B. 1994 C. 1996 D. 1997

Q10.What problem did the Diwani solve for the Company?

A. Lack of goods to sell in India B. Outflow of gold from Britain C. Shortage of troops D. Administrative costs

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Economics Practice Quiz 102