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

The economists who emphasized wage flexibility as a solution for unemployment were.

Question # 2

If there is a price celling which of the following is NOT likely to occur.

Question # 3

Say's law states that

Question # 4

Investment depend mainly on.

Question # 5

The price mechanism cannot.

Question # 6

Who advocates laissez fair.

Question # 7

Which of the following is a policy instrument .as opposed to a government objective.

Question # 8

Finding a partner to work with abroad is called a.

Question # 9

The goal of a pure market economy is to best meet the desires of.

Question # 10

The marginal propensity to consume is equal to.

Question # 11

Economics is the study of.

Question # 12

Aggregate demand will increase if

Question # 13

Profit is measured by

Question # 14

In the short run firm in perfect competition will still produce provided.

Question # 15

What does ceteris paribus mean.

Question # 16

Macro economics deals with

Question # 17

If injection are less than with drawls at the full employment level of national income there is.

Question # 18

As income increases.

Question # 19

As the MPS increases, the multiplier will

Question # 20

An increase in aggregate demand is more likely to lead to demand pull inflation if.

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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 The demand for a product would be more inelastic.
A. The greater is the time under consideration
B. The greater is the number of substitutes available to buyers
C. The less expensive is the product in relation to incomes
D. all of the above.
2 If the price elasticity of demand for a product in market A is -0.2 and in market B is -3 a price discriminator will charge.
A. The higher price in market A
B. The higher price in market B
C. The same price in both markets
D. There are many sellers
3 Supply is likely to be more price elastic.
A. In the short run rather than the long run
B. If factors of production are relatively immobile between industries.
C. If there are very few producers
D. If it is easy to expand output
4 In monopoly in long run equilibrium.
A. The firm is productively effieient
B. The firm is allocatively inefficient
C. The firm produces where marginal cost is less than marginal revenue
D. The firm produces at the sociality optimal level
5 The price mechanism cannot.
A. Act as a signal
B. Act as an incentive
C. Act as a rationing device
D. Shift the demand curve
6 In monopolistic competition if firms are making abnormal profit other firms will enter and
A. The marginal cost will shift outwards
B. the demand curve will shift inwards
C. The average cost will shift downwards
D. The average variable cost will increase
7 An injection of funds into a less developed country might set off the
A. Multiplier
B. Marginal propensity to save
C. Average propensity to consume
D. The Laffer effect
8 The difference between gross investment and net investment is.
A. Depreciation
B. Acceleration
C. Deceleration
D. Capital investment
9 A government might use tax to.
A. Discourage consumption of positive externalities
B. Discourage consumption of public goods
C. Discourage consumption of merit goods
D. Discourage consumption of negative externalities
10 In perfect competition.
A. the products firm offer are very similar
B. Products are heavily differentiated
C. A few firms dominate the market
D. Consumers have limited information

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