Economic System MCQs with Answers

Which type of state should recognize the right to employment for its citizens?

• A.Federal state
• B.Secular state
• C.Welfare state
• D.Unitary state

When a healthy man asked Prophet Muhammad (PBUH) for help, how many dirhams did the Prophet sell his belongings for to buy an axe and a rope for him?

• A.One dirham
• B.Four dirhams
• C.Three dirhams
• D.Two dirhams

From which Arabic root word is the term 'Takaful' derived?

• A.Mudaraba
• B.Takafula
• C.Wakala
• D.Kafala

During the time of the Holy Prophet (PBUH), what was the tax rate on land irrigated by buckets?

• A.10%
• B.5%
• C.2.5%
• D.7.5%

Past Paper MCQ

What is the main function of Bait-ul-Mal in Islam?

• A.To collect and distribute zakat exclusively
• B.To function as a central bank for currency regulation
• C.To manage military funding and defense expenditures only
• D.To serve as a treasury for social welfare and public assistance

What is the per capita tax imposed on able-bodied non-Muslim men of military age called?

• A.Kharaj
• B.Jizya
• C.Ushr
• D.Zakat

What is the Islamic financial partnership where one party provides capital and the other provides expertise and labor?

• A.Musharakah
• B.Mudarabah
• C.Murabahah
• D.Ijarah

What is Khums in the context of Islamic economic resources?

• A.A fixed 2.5% annual tax on savings and trade goods
• B.One-tenth (10%) agricultural tax on land produce
• C.A voluntary charity given at the end of Ramadan
• D.One-fifth (20%) levy on certain types of wealth and spoils of war

Who is referred to as the brother of Satan according to Islamic teachings?

• A.A miser
• B.An extravagant spender
• C.A backbiter
• D.A liar

IDB stands for

• A.Islamic Deposit Bureau
• B.International Development Bank
• C.Inter-American Development Bank
• D.Islamic Development Bank