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

00:00
Question # 1

When marginal revenue equals marginal cost

Question # 2

To be allocatively efficient ta firm must produce where

Question # 3

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

Question # 4

If there is cyclical unemployment in the economy the government might.

Question # 5

An increase in national income is.

Question # 6

As the MPS increases, the multiplier will

Question # 7

Prices that do not always adjust rapidly to maintain equality between quantity supplied and quantity demanded are.

Question # 8

Which of the following is not an argument for protectionism.

Question # 9

Open market operations occur when the government.

Question # 10

A higher GDP per capita may not mean that the quality of life has really improved because.

Question # 11

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

Question # 12

The length of a business cycle would be measured from

Question # 13

The hypothesis that people know the true model of the economy and that they use this model and al available information to form their expectations of the future is the

Question # 14

In land intensive method which mean production is used comparativelymore

Question # 15

A profit maximizing firm in perfect competition produces where

Question # 16

Which of the following is an injection into the economy.

Question # 17

If firm earn normal profits.

Question # 18

Which of the following is a characteristic of pure monopoly.

Question # 19

A cut in the income tax rate designed to encourage household consumption is an example of.

Question # 20

For equilibrium in an open four sector economy

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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 price mechanism cannot.
A. Act as a signal
B. Act as an incentive
C. Act as a rationing device
D. Shift the demand curve
2 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
3 If the price in a market is fixed by the government above equilibrium.
A. There is excess equilibrium
B. There is excess supply
C. There is excess demand
D. There is equilibrium
4 According to the law of diminishing utility.
A. Utility is at a maximum with the first unit
B. Increasing units of consumption increase the marginal utility
C. Marginal product will fall as more units are consumed
D. Total utility will rise at a falling rate as more units are consumed
5 A depreciation of currency occur when
A. The value of the currency falls
B. The value of the currency increases
C. Inflation falls
D. The balance of payments improves
6 Effective branding will tend to make
A. Demand mover price inelastic
B. Supply more price inelastic
C. Demand more income elastic
D. Supply more income elastic
7 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
8 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
9 An expansionist fiscal policy could include
A. Lower interest rates
B. Increased lending by the banks
C. An increase in corporation tax
D. An increase in discretionary government spending
10 GDP plus net property income from aboard equals what.
A. GNP
B. NNP
C. Depreciation
D. Real GDP

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