R4RIN – MCQs, Mock Tests | Economics Economics International Economic Organisations set-2

Which one of the following countries attends the sessions of the Council for Mutual Economic Assistance as an observer?

1. Poland
2. Mexico
3. Peru
4. Romania

✅ Correct Answer: 2

The headquarters of the Council for Mutual Economic Assistance (COMECON) are located at:

1. Moscow
2. Havana
3. Warsaw
4. Budapest

✅ Correct Answer: 1

When was the Council for Mutual Economic Assistance (COMECON) founded with the object of co-coordinating and integrating the economies of member-countries?

1. 1948
2. 1949
3. 1950
4. 1951

✅ Correct Answer: 2

How many countries joined together to form the European Free Trade Association (EFTA) with a view to ultimately establish a free trade area between member-countries?

1. Six
2. Seven
3. Eight
4. Nine

✅ Correct Answer: 2

Two founder members of the European Free Trade Association (EFTA) left it in 1972 to join the EEC. One was the UK. Which was the other?

1. Norway
2. Sweden
3. Denmark
4. Portugal

✅ Correct Answer: 3

Where are the headquarters of EFTA located?

1. Geneva
2. Brussels
3. Stockholm
4. Vienna

✅ Correct Answer: 2

The European Free Trade Association (EFTA) was formed on the pattern of the EEC as a result of the convention signed by some countries of Europe at Stockholm. When was it formed?

1. 1959
2. 1960
3. 1961
4. 1962

✅ Correct Answer: 2

When was the United Nations Environment Programme launched?

1. 1970
2. 1971
3. 1972
4. 1973

✅ Correct Answer: 3

Which of the following organisations has its headquarters at Nairobi?

1. United Nations Development Programme
2. United Nations Environment Programme
3. Organisation of African Unity
4. Universal Postal Union

✅ Correct Answer: 2

When was the Group of 77 an economic group of the Third World countries to protect the economic and trade interests of developing countries formed under the auspices of the United Nations?

1. 1962
2. 1964
3. 1966
4. 1968

✅ Correct Answer: 2

When was the World Bank s Special Programme of Assistance (SPA) for indebted low income countries initiated?

1. December. 1987
2. January. 1988
3. March. 1988
4. May. 1988

✅ Correct Answer: 1

Which country is the OPEC s largest oil exporter?

1. Saudi Arabia
2. Iraq
3. Kuwait
4. United Arab Emirates

✅ Correct Answer: 1

When was the Organisation of Petroleum Exporting Countries (OPEC) formed to control the production and pricing of crude oil?

1. 1956
2. 1958
3. 1960
4. 1962

✅ Correct Answer: 3

The headquarters of which of the following organisations are located at Vienna?

1. OPEC
2. COMECON
3. OECD
4. IDA

✅ Correct Answer: 1

The International Air Transport Association (IATA) aims to promote safe regular and economical air transport and to provide a forum for collaboration. When was its founded?

1. 1945
2. 1946
3. 1947
4. 1948

✅ Correct Answer: 1

How many international airlines are active members of the IATA?

1. 35
2. 40
3. 45
4. 50

✅ Correct Answer: 2

Which of the following is not a member country of the G-7 (Group of Seven advanced industrial nations)?

1. USA
2. UK
3. USSR
4. Italy

✅ Correct Answer: 3

Which of the following organisations was brought into existence by the Treaty of Rome?

1. Council for Mutual Economic Assistance
2. European Free Trade Association
3. European Economic Community
4. Council of Europe

✅ Correct Answer: 3

How many Regional Economic Commissions have been set up by the United Nations Economic and Social Council?

1. Eight
2. Seven
3. Six
4. Five

✅ Correct Answer: 4

How many member-states are represented in the United Nations Economic and Social Council?

1. 44
2. 50
3. 54
4. 58

✅ Correct Answer: 3

In which year was the Asian Development Bank (ADB) set up following the recommendation of the United Nations Economic Commission for Asia and Far east?

1. 1964
2. 1966
3. 1968
4. 1970

✅ Correct Answer: 2

When was the Asian Development Fund launched by the Asian Development Bank with a view to provide confessional credit to needy members?

1. 1974
2. 1972
3. 1970
4. 1968

✅ Correct Answer: 1

Those who invest in joint stock companies are called:

1. Partners
2. Shareholders
3. Members
4. Associates

✅ Correct Answer: 2

Limited liability is one of the advantages of:

1. Partnership
2. Sole proprietor
3. Joint stock company
4. Cooperative society

✅ Correct Answer: 3

He prepares the initial plan of the business:

1. Capitalist
2. Manager
3. Entrepreneur
4. Officer

✅ Correct Answer: 3

It is most suitable for large scale business:

1. Proprietorship
2. Partnership
3. Corporation
4. Cooperative society

✅ Correct Answer: 3

A public limited company is run by:

1. Board of governors
2. Board of managers
3. Board of advisors
4. Board of directors

✅ Correct Answer: 3

They can expand their business by selling shares in the stock market:

1. Proprietor of business
2. Partners of the business
3. Joint stock company
4. Industrial cooperative societies

✅ Correct Answer: 3

Reward of which factor of production is not pre-determined?

1. Labour
2. Land
3. Capital
4. Organistion

✅ Correct Answer: 4

It is an example of public limited company:

1. WAPDA
2. President House
3. Mobil Link (Telephone)
4. None of the above

✅ Correct Answer: 1

A public corporation comes into existence by means:

1. Registration under the Companies Act
2. Act of Parliament
3. Decision by the shareholders
4. Registration with the Stock Exchange

✅ Correct Answer: 2

If a public limited company issues bonds to increase resources then it pays:

1. Fixed premium to bond holders
2. Fixed interrest to bond holders
3. Fixed tax to bond holders
4. Fixed profit to bond holders

✅ Correct Answer: 2