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

Try The MCQ's Test For PPSC Economics Topic 1 Basic Economics

  • Total Questions20

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PPSC Economics Topic 1 Basic Economics

00:00
Question # 1

Why might a country resist globalization.

Question # 2

In economics we ofthe say that a particular event will occur "as long as other things stay the same. " The conduction that other thing saty the same is also called.

Question # 3

What makes economics scientific.

Question # 4

In monopolistic competition if firms are making abnormal profit other firms will enter and

Question # 5

In perfect competation.

Question # 6

The law of diminishing returns assumes.

Question # 7

In the long term a firm will produce provident the revenue covers.

Question # 8

The first level of output at which the long run average costs are minimized is called.

Question # 9

To reduce the supply of money the government could.

Question # 10

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

Question # 11

If employees cannot accept a job because of the costs of moving this is known as.

Question # 12

Which of the following is not one of the four Ps in marketing.

Question # 13

The natural rate of unemployment is likely to tall if

Question # 14

In monopolistic competition firms profit maximize where

Question # 15

If the price is less than the average cost but higher than the average variable costs.

Question # 16

According to classical models the level of employment is determined primarily by

Question # 17

Open market operations occur when the government.

Question # 18

Can economic theories be tested.

Question # 19

Exchange rates that are determined by the unregulated forces of supply and demand are.

Question # 20

Which of the following is not involved with fiscal policy.

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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 As income increases.
A. the average propensity to consume gets nearer in value to the marginal propensity to consume
B. the average propensity to consume diverges in value from the marginal propensity to consume
C. the average propensity to consume falls
D. The averge propensity to consume always approaches 0
2 If injection are less than with drawls at the full employment level of national income there is.
A. an inflationary gap
B. Equilibrium
C. A deflationary gap
D. Hyperinflation
3 If the price is less than the average cost but higher than the average variable costs.
A. The firm is making a loss and will should own in the short term.
B. The firm is making a profit.
C. The firm is making a loss but will continue to produce in the short term
D. The firm is making a loss and is making a negative contribution to fixed costs
4 Which of the following is a possible government objective as opposed to a policy.
A. Lower interest rates
B. Lower taxation rates
C. Lower government spending
D. Lower inflection
5 The economists who emphasized wage flexibility as a solution for unemployment were.
A. Monetarists
B. New keynesians
C. Classical economists
D. Keynesians
6 A movement along the supply curve may be caused by
A. A change in technology
B. A change in the number of producers
C. A shift in demand
D. A change in costs
7 Which of the following is the government most likely to subsidies.
A. Negative externalities
B. Positive externalities
C. Monopolies
D. O ligopojies
8 Free trade is based on the principle of
A. Comparative advantage
B. Comparative scale
C. Economics of advantage
D. Production possibility advantage
9 Profit is measured by
A. Revenue - Fixed costs
B. Fixed cost + revenue
C. Revenue - sales
D. Revenues - total costs
10 According to the quantity theory of money an increase in the money supply is most likely to lead ot inflation if
A. The velocity of circulation decreases
B. The number of transactions decreases
C. There is deflation
D. The velocity of circulation and the number of transactions is constant

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