PPSC Economics Topic 1 MCQS Test Preparation

PPSC Economics test is comprised of questions related to the economics subject and general knowledge questions. The PPSC test is, somehow, tough but candidates who prepare properly can easily cover the test. The test is comprised of 100 MCQs and candidates are required to get the maximum of marks to beat the set criteria and competition. In order to get excellent preparation in chapter I of the Economics subjects the team of Ilmkidunya has arranged PPSC online tests. On this page, the candidates can find the online test of chapter I. However, for other chapters’ tests, you will find separate sections and pages. The online test is comprised of 20 MCQs and candidates are offered 20 minutes to cover the test. In this way, candidates get the practice that how to cover the test within the given timeframe.

MCQ's Test For PPSC Economics Topic 1 Basic Economics

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PPSC Economics Topic 1 Basic Economics

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Question # 1

The bowed shape of the production possibilities curve illustrtres.

Question # 2

Say's law states that

Question # 3

Horizontal integration may lead to internal economics of scale. Which of the following is not a type of internal economy of scale.

Question # 4

The resources in the economy do not include.

Question # 5

When an economy first begins to frow more slowly.

Question # 6

An increase in the price of a complement or produce.A would.

Question # 7

A benefit to consumers of price discrimination is that

Question # 8

As the MPS increases, the multiplier will

Question # 9

Price equal to.

Question # 10

Why does it make sense in assume that people are rational, if you want to predict their behavior.

Question # 11

In a perfectly competitive labour market firms are wage takers and the marginal cost of labour equals.

Question # 12

An increase income will

Question # 13

In monopoly when abnormal profits are made.

Question # 14

A multinational busniess

Question # 15

In a recession a government.

Question # 16

An injection of funds into a less developed country might set off the

Question # 17

Macro economics deals with

Question # 18

There are three fundamental questions every society must answer Which of the following is one of these questions.

Question # 19

Nationalization occurs when

Question # 20

GDP plus net property income from aboard equals what.

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Economics
1st Chapter

PPSC Economics Chapter 1 Test

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PPSC Economics Chapter 1 Important MCQ's

Sr.# Question Answer
1 "Reducing inflation is a more important objective than economic growth" is an example of.
A. Normative economics
B. Positive economics
C. Objective economics
D. Reality economics
2 Which of the following is a normative statement in economics.
A. More spending by the government reduces poverty
B. Higher taxes lead to less desire to work
C. the UK Economy is growing fast relative to other European Union members
D. The Government should concentrate on reducing unemployment
3 Which kind economics deals with issues such as unemployment inflation, and economic growth.
A. Macro economics
B. Micro economics
C. Growth economics
D. Political economics
4 If input price adjusted very slowly to output prices, the Phillip's curve would be.
A. Downward sloping
B. Vertical or nearly vertical
C. Upward sloping
D. Horizontal or nearly horizontal
5 Which of the following is not a macro economic issue.
A. Unempolyment
B. Inflaction
C. The wages paid to footballers
D. Economic growth
6 The diamond water paradox can be explained by suggesting that the price of a product is determined by.
A. Consumer incomes
B. Its marginal utility
C. Consumer surplus
D. Diminishing marginal utility
7 Economic theory assumes that people
A. Act in greedy and selfish ways, without regard for the welfare of others.
B. Act without regard for their own interests.
C. Are not motivated by self interest
D. Are motivated by self interest but still might be concerned for the welfare of others.
8 Nationalization occurs when
A. The government bans a product
B. The government takes control of an industry
C. the government taxes a product to a raise the price.
D. The government taxes a product to a raise its price.
9 Over time the price of primary products tends to fall because.
A. Demand is income elastic
B. Supply is income elastic
C. Of outward shifts in supply
D. Demand is price elastic
10 A public good
A. Is provided by the government
B. Is free
C. Has the properties of being non excludable and non diminishable
D. Has external costs

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