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

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PPSC Economics Topic 1 Basic Economics

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Question # 1

In perfect competation.

Question # 2

Demand for labour is more likely to be wage inelastic if.

Question # 3

Profit is measured by

Question # 4

Effective branding will tend to make

Question # 5

A recurring theme in economics is.

Question # 6

If labour productivity per week is 200 units and there are 5 employees what is the total output.

Question # 7

Normal profit occurs when

Question # 8

The average variable cost curve.

Question # 9

A shift in supply will have a bigger effect on price than output if demand is.

Question # 10

Which of the following is an injection into the economy.

Question # 11

Which of the following is not a global organization?

Question # 12

Which of the following rights be a scarce good.

Question # 13

A study of how increase in the minimum wage rate will effect the national unemployment rate is an example of.

Question # 14

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

Question # 15

What lies is at the heart of the allocation of goods and services in a free market economy.

Question # 16

Profit making is basic motive in.

Question # 17

A reduction in the money supply is likely to

Question # 18

The marginal Revenue product is.

Question # 19

A public good will

Question # 20

Capital, as economists use the term.

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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 A shift in supply will have a bigger effect on price than output if demand is.
A. Income elastic
B. Income inelastic
C. Price elastic
D. Price inelastic
2 An increase in the marginal propensity to consume will
A. Increase the size of the multiplier
B. Increase the marginal propensity to save
C. Decrease national income
D. Reduce injections into the economy
3 A cut in the tax rate designed to reduce the business investment is an example of.
A. Expansionary demand side policy
B. Contractionary demand side policy
C. Expansionary supply side policy
D. Contractionary supply side policy
4 A public good will
A. Be underprovided in the free market
B. Be overprovided in the free market
C. Not be provided in the free market
D. Has no opportunity cost
5 In a recession a government.
A. Is likely to want to increase demand in the economy
B. Is likely to want to decrease demand in the economy
C. Is likely to want to stabilize demand in the economy
D. Is likely to want to increase supply in the economy
6 Which of the following is an injection into the economy.
A. Investment
B. Saving
C. Taxation
D. Import spending
7 The natural rate of unemployment is likely to tall if
A. Unemployment benefits increase
B. Income tax increases
C. More training is available for the unemployed
D. Geographical immobility increases
8 Increase un employment benefits and less incentive to work would.
A. Shift aggregate supply to the right
B. Shift aggregate supply to the left
C. Shift aggregate demand to the right
D. Shift aggregate demand to the left
9 If demand increase in a market this will usually lead to.
A. A higher equilibrium price and output
B. a lower equilibrium price and higher output
C. A lower equilibrium price and output.
D. A higher equilibrium price and lower output
10 A profit maximizing firm will employ labour up to the point where.
A. Marginal revenue = Marginal product
B. Margial cost = Marginal product
C. Marginal revenue product = Average cost of labour
D. Marginal revenue product = Marginal cost of labour

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