The contract to pay a premium for which the insurer will pay compensation in certain happenings e.g., fire theft or motor accident is termed as:
(a) Insurance-✔️
(b) Warranty
(c) Security
(d) Safeguard
The charge made for the use of borrowed money levied as a percentage of the amount of debt is refered to as:
(a) Credit
(b) Interest-✔️
(c) Share
(d) Insurance
The amount of gold reserve, currencies and special drawing rights available for the finance of international trade is called:
(a) Foreign Reserves
(b) International Liqiudity-✔️
(c) Foreign Investment
(d) None of the above
What is the term for stocks of raw materials work in progress and finished goods?
(a) Inventory-✔️
(b) Checklist
(c) Stock
(d) Statement
The real capital formation e.g., the production or maintenance of machinary or construction that will produce a stream of goods and services is called
(a) Capital
(b) Investment-✔️
(c) Grant
(d) Property
The demand for two or more commodities or factor of production that are used together so that a change in demand for one will be reflected in a change in demand for other e.g., cloth and thread is called
(a) Joint Demand
(b) Complementary Demand
(c) Isolated Demand
(d) Both a and b-✔️
The business arrangement in which two companies invest in a project over which both have partial control is termed as:
(a) Joint Ventrue-✔️
(b) Speculation
(c) Project
(d) Undertaking
The total number of people in a country who are in work or unemployed but looking for work, is called:
(a) Labour Demand
(b) Labour force-✔️
(c) Labour Market
(d) None of the above
An agreement between the owner of a property to grant use of it to another party for a specified period at specified rent payable annually is called:
(a) Charter
(b) Contract
(c) Lease-✔️
(d) Compact
In 1971, United Nations Conference on Trade and Development (UNCTAD) drew up a list of 24 countries having a GDP of 100 or less literacy rate of 20% or less and a share of manufacturing of 10% or less of GDP. These countries were referred to as:
(a) Developing Countries
(b) Advanced Cuntries
(c) Least Developed Countries-✔️
(d) None of the above
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