Economic | MCQs

Explanation

Deficit means خسارہ

Shortfall means کمی

Explanation

In March 2023, Saudi Arabia’s Prince Fahad bin Mansour launched a $100 million Saudi Arabia-Pakistan Tech House, a new initiative aimed at creating opportunities through partnerships with information technology (IT) companies and enterprises in Pakistan.

Explanation

The main three sectors of economy of Pakistan are agricultural, industrial and services sectors.

Textile is the largest export industry in Pakistan

Agriculture is the largest sector of economy of Pakistan. 

Explanation

In 2020, most completed projects under CPEC were related to the road infrastructure, improving connectivity between Pakistan and China.

Major road projects like Hazara Motorway and parts of the Western Route were key achievements in this sector.

Explanation

Explanation

The annual inflation rate in Pakistan edged up to 9.2 percent in October of 2021 from 9.0 percent in the previous month.

 increased to 24.6% on a year-on-year basis in Oct 2022 

Pakistan's inflation rate accelerated to 38% in May of 2023 from 36.4% in April.

This was the highest reading since comparable records began in 1957, mainly due to rising food inflation (48.7% vs 48.1% in April).

Explanation

Agriculture was the primary economic foundation of ancient civilizations (e.g., Mesopotamia, Egypt, Indus Valley). It provided:

• Food surplus, enabling population growth.
• Raw materials (e.g., cotton, wool) for trade and crafts.
• Stability required for societal development.

Explanation

The government contracted $15.32 billion worth of new foreign loans from multilateral institutions and commercial banks during the previous fiscal year (2020-21). As per, Annual Report on Foreign Economic Assistance 2020-21.

Explanation

 The state owned investment fund of Qatar is going to invest $3 billion in Pakistan, an official statement from the office of the energy-rich country`s ruler said on August 24, 2022.

Explanation

The USA is the largest export destination for Pakistan, especially for textiles, garments, and leather goods.

Pakistan enjoys a trade surplus with the USA, making it a key market for earning foreign exchange.