Economics Unit No: 6
1) Economics: According to famous economist Adam Smith
“Economics is the science of Wealth”.
2) Goods: Public goods mean all those things
and facilities that a government provides to its citizens
without any distinction. Like school, Hospitals, roads, and banks.
3) Services: Services provides by government like
education, health, police and armed Force and other related services are called
public services.
4) Trade (تجارت): Selling and
buying process of the goods is called trade.
5) Export (برآمدات): All such items
that we sell to the other counties are called exports.
6) Import (درآمدات): All such items
which we buy from other countries of the world are called imports.
7) Foreign
exchange (زرمبادلہ): Means foreign currency. Exchanging of
national goods with foreign currency is also called foreign exchange.
8) Pakistan
exports thread,
fabric, readymade garments, bed sheet, rice, leather items, carpets, sports
items, surgical instrument and fish etc.
9) Pakistan
imports important oil, defense equipment’s, spare
parts of transportations, fertilizers, chemicals, colors, medicine, iron, raw
materials and cooking oils etc.
10)Barter (مال کے بدلے مال): The people started direct exchange of goods
to get what they needed. It was called barter system.
11)Currency: The coins and notes used in a country are
called currency. 
Education is the basic………of every person.
a) Possession
b) Right
c) Duty
d) all of these
Which of the following is/are the public Goods?
a) Schools, Hospitals
b) Roads, Posts Offices
c) Public parks, banks
d) all of these
Health, Education, armed force and Police are the examples of………..
a) Government property
b) Public facility
c) Public Services
d) none of these
Good health is the…………..of good life.
a) Guarantee
b) Light
c) Life
d) hope
Each and every citizen has the right of……and protection.
a) War
b) Security
c) Honesty
d) all
