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

In perfect competation.

Question # 2

In monopolistic competition firms profit maximize where

Question # 3

An increase in aggregate demand if aggregate supply is totally inelastic will.

Question # 4

If marginal revenue equals marginal cost

Question # 5

If the economy grows the government's budget position will automatically

Question # 6

The accelerator theory of investment says that induced investments determined by.

Question # 7

If firms join together to set prices and quantities this is known as what.

Question # 8

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

Question # 9

A recurring theme in economics is.

Question # 10

Which of the following best describes the selling of a production license to another firm.

Question # 11

A benefit to consumers of price discrimination is that

Question # 12

Horizontal integration may lead to internal economics of scale. Which of the following is not a type of internal economy of scale.

Question # 13

Supply side policies are most appropriate to cure.

Question # 14

Globalization is likely to increase with

Question # 15

If economics when we say that people are rational, we mean that they.

Question # 16

An increase in the costs of production will

Question # 17

To adjust GDP from market prices to factor cost.

Question # 18

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

Question # 19

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

Question # 20

The average variable cost curve.

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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 If firms join together to set prices and quantities this is known as what.
A. Interaction
B. Conglomerate
C. Collusion
D. Integration
2 If the marginal revenue is less than the marginal cost then to profit maximize a firm should.
A. Reduce output
B. Increase output
C. Leave output where it is.
D. Increase costs
3 A significant increase in the government budget deficit is likely to.
A. Reduce injections into the economy
B. Reduce national income
C. Move the economy away from full employment
D. Boost aggregate demand
4 Gross National product equals
A. Net National Product adjusted for inflation
B. Gross domestic product adjusted for inflation
C. Gross Domestic product plus net property income from abroad
D. Net National product plus net property income from abroad
5 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
6 The length of a business cycle would be measured from
A. Peak t trough
B. Trough to peak
C. Peak to Peak
D. The slump to the expansion
7 To reduce the supply of money the government could.
A. Reduce interest rates
B. Buy back government bonds
C. Sell government bonds
D. Encourage banks to lend
8 An increase in national income is.
A. Likely to increase exports
B. Likely to decrease savings
C. Likely to decrease investment
D. Likely to increase spending on imports
9 In cartels.
A. Firms complete against each other
B. Price wars are common
C. Firms use price to win market share from competitors
D. Firms collude
10 An increase in price all other, things unchanged leads to.
A. Shift demand outwards
B. Shift demand inward
C. A contraction of demand
D. An extension of demand

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