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

Which of the following is not an argument for protectionism.

Question # 2

A subsidy paid to producers.

Question # 3

A mixed economy

Question # 4

An increase in aggregate demand will have most effect on prices if.

Question # 5

Economists use the term marginal utility to mean.

Question # 6

An increase in costs will

Question # 7

Occupational immobility of labour occurs if.

Question # 8

If the marginal revenue is less than the marginal cost then to profit maximize a firm should.

Question # 9

Economics given can be shown by

Question # 10

Developing economics usually have

Question # 11

Scarcity means that

Question # 12

If one car company takes over another car company this is an example of which type of integration.

Question # 13

According to schumpater

Question # 14

Demand for a normal product may shift outwards if.

Question # 15

The natural rate of unemployment is likely to tall if

Question # 16

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

Question # 17

The length of a business cycle would be measured from

Question # 18

The marginal Revenue product is.

Question # 19

The diamond water paradox can be explained by suggesting that the price of a product is determined by.

Question # 20

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

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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 In a less developed country.
A. The infrastructure is likely to be good.
B. Real wages are likely to be high
C. Unemployment is likely to be low
D. The primary sector is likely to be significant
2 The difference between gross investment and net investment is.
A. Depreciation
B. Acceleration
C. Deceleration
D. Capital investment
3 When marginal revenue equals marginal cost
A. Total revenue equal total cost
B. There is the biggest positive difference between total revenue and total cost
C. there is the biggest negative difference between total revenue and total cost.
D. Profits are zero
4 What is the effect of imposing a fixed per unit tax on a good on its equilibrium price and quantity.
A. Price falls, quantity rises
B. Price rises, quantity falls
C. Both price and quantity fall
D. Both price and quantity rise
5 A higher GDP per capita may not mean that the quality of life has really improved because.
A. It measures wealth not income
B. It measures Gross Domestic product
C. It does not measure the quality of the items produced
D. it is only measured every five years
6 The marginal propensity to consume in a less Developed Country is likely to be.
A. Less than 0
B. Nearly 0
C. High
D. Low
7 Tariffs.
A. Decrease the domestic price of a product.
B. Increase government earnings from tax
C. Increase the quantity of imports
D. Decrease domestic production
8 If marginal utility is zero.
A. Total utility is zero
B. An additional unit of consumption will decrease total utility
C. An additional unit of consumption will increase total utility
D. Total utility is maximized
9 If people are made unemployed because of a fall in aggregate demand this is known as.
A. Frictional unemployment
B. Seasonal unemployment
C. Cyclical unemployment
D. Structural unemployment
10 When supply increases in an agricultural market famer's earnings might fall because.
A. Supply is price elastic
B. Demand is price inelastic
C. the government buys up all the excess production
D. All output must be sold at a maximum price

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