ECONOMICS

10th

NOBLE ACADEMY OF SCIENCE & ARTS (NASA)

 Economics (10th)
Solved Paper Economics SSc-11 Annual 2013
M.C. Qs:
1. D 2. D 3.C 4. C 5.B 6. C 7.C 8. C 9.A 10.D 11.A 12.A
13.D 14.A 15.A

1. Compare Zakat & Usher:

Zakat:
Zakat Only imposed on Muslims, it is generally described as a 2.5% on savings held over the
period of one year. It is to be donated to the Muslim poor and needy.
Usher:
Usher is 10% tax on the harvests of irrigated land and 10% tax on harvest from rain-watered land
and 5% on Land dependent on well water
2. 6 Major Exports of Pakistan:
1) Miscellaneous textiles, worn clothing: US$4.1 billion
2) Cotton: $3.5 billion
3) Knit or crochet clothing, accessories: $2.9 billion
4) Clothing, accessories (not knit or crochet): $2.6 billion
5) Cereals: $2.4 billion
6) Leather/animal gut articles: $662.7 million
3. Direct Tax:
A direct tax is paid directly by an individual or organization to the imposing entity. A
taxpayer pays direct taxes to the government for different purposes, including real
property tax, personal property tax, income tax.
4. Budget:
A budget is an estimation of revenue and expenses over a specified future period of time
and is usually compiled and re-evaluated on a periodic basis
5. State Bank of Pakistan (S.B.P):
The State Bank of Pakistan is the central bank of Pakistan. Muhammad Ali Jinnah took
steps to establish the State Bank of Pakistan and its commenced operation on July 1,
1948. Every country has only one state bank. State Bank is a controlling bank which
control all commercial banks in Pakistan.
6. 3 Commercial Banks of Pakistan:
a. Allied Bank Limited.
b. Askari Bank.
c. Bank Alfalah.
d. Bank AL Habib.
7. Major Industrial problems of Pakistan:
Having rich in natural resources, the country has been going through major
challenges and issues which are power crisis, chronic energy shortage, high interest rate,
administrative bottlenecks, bad governance, lack of institutional framework, political
instability
8. Causes of low per capita income:
1) Vicious Circle of Poverty.

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 Economics (10th)
2) Unemployment.
3) Lack of Foreign Investment.
4) Low National Income.
5) Use of Backward Technology.
9. Private Finance:
Private Finance is the studies of income, expenditure. and activities of the private individuals
and private entities
10. Home Vs Foreign Trade:
Home Trade: Home trade refers to the trade within the borders of the country with one
country currency
Foreign Trade: Foreign Trade refers to the trade between two or more countries having
two country currencies.
11. Public Finance:
Public finance is the study of the role of the government in the economy. It is the branch
of economics that assesses the government revenue and government expenditure. they
adjustment of one or the other to achieve desirable effects and avoid undesirable ones
12. Barter System:
A barter system is an old method of exchange. This system has been used for centuries
and long before money was invented. People exchanged services and goods for other
services and goods in return
13. Credit money & types:
Credit money is any future monetary claim against an individual that can be used to buy
goods and services. Their Types are such as IOUs, bonds
14. Profit & Loss Sharing Account:
PLS is the method utilized in Islamic banking to comply with the prohibition of interest.
The Islamic solution, commonly referred to as Profit & Loss Sharing (PLS), suggests an
equitable sharing of risks and profits between the parties involved in a financial
transaction
15. Bank:
A bank is a financial institution where customers can save or borrow money. ...
Customer's money may be placed in the bank for safe keeping. Banks may give loans to
customers under an agreement to pay the money back to the bank at a later time, with
interest.
16. Value of Money:
The value of money, then, is the quantity of goods in general that will be exchanged for one unit
of money. The value of money is its purchasing power
17. Function of Money:
1) A Medium of Exchange
2) A Measure of Value
3) A Store of Value (Purchasing Power)
4) The Basis of Credit
18. Public Debt:
The public debt is how much a country owes to lenders outside of itself. These can
include individuals, businesses, and even other governments. The term "public debt" is
often used with National debt.
NOBLE ACADEMY OF SCIENCE & ARTS (NASA)
Minhas Plaza Near Shalley Valley Range Road Rawalpindi Cantt
0333-5323808 /0345-58020808
 Economics (10th)

Long Question
Q1: what are agriculture problems of Pakistan facing now a day?
Agricultural System of Pakistan:
Agriculture. Agriculture is a vital sector of Pakistan's economy and accounted for 25.9 percent of
GDP in 1999-2000, according to government estimates. The main agricultural products are
cotton, wheat, rice, sugarcane, fruits, and vegetables, in addition to milk, beef, mutton, and eggs.
Agricultural Problems in Pakistan:
1) Lack of Modern Agriculture technology
2) Poor Financial Position of Farmer
3) Limited Cultivable Area
4) Waterlogging and salinity
5) Slow Growth of Allied Product
6) Low per Hectare Yield
7) Inadequate Infrastructure
8) Uneconomic Land holdings
9) Old method of Production
10) Inadequate supply of Agriculture Inputs
Steps to Improve Agriculture Sector:
(1) Technological Measures: ...
(2) Land reforms: ...
(3) Cooperation and consolidation of holdings: ...
(4) Institution involving people’s participation in planning: ...
(5) Institutional credit: ...
(6) Procurement and support prices: ...
(7) Input subsidies to agriculture: ...
(8) Food security system

_______________________________

NOBLE ACADEMY OF SCIENCE & ARTS (NASA)

Minhas Plaza Near Shalley Valley Range Road Rawalpindi Cantt
0333-5323808 /0345-58020808