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

  • Total Questions20

  • Time Allowed20

Start Test Download PDF

PPSC Economics Topic 1 Basic Economics

00:00
Question # 1

Menu costs in relation to inflation refer to

Question # 2

If there is a price celling there will be

Question # 3

Assuming a downward sloping demand curve and upward sloping supply curve a higher equilibrium price may be caused by.

Question # 4

A profit maximizing firm will employ labour up to the point where.

Question # 5

Tariffs.

Question # 6

If the price in a market is fixed by the government above equilibrium.

Question # 7

A profit maximizing firm in perfect competition produces where

Question # 8

Developing economics usually have

Question # 9

The natural rate of unemployment is likely to tall if

Question # 10

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

Question # 11

The precautionary demand for money is

Question # 12

The sacrifice involved when you choose a particular course of action is called the

Question # 13

When internal economics of scale occur

Question # 14

Revealed preference theory was presented by.

Question # 15

In cartels.

Question # 16

Investment depend mainly on.

Question # 17

Why might a country resist globalization.

Question # 18

In monopoly which of the following is true.

Question # 19

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

Question # 20

To be allocatively efficient ta firm must produce where

Submit

Prepare Complete Set Wise PPSC Economics Topic 1 Basic Economics MCQs Online With Answers


Topic Test

00:00
Submit
 
Economics
1st Chapter

PPSC Economics Chapter 1 Test

Here you can prepare PPSC Economics Chapter 1 (Basic Economics) Test. Click the button for 100% free full practice test.

Start Chapter 1 Test

Top Scorers Of PPSC Economics Topic 1 Basic Economics MCQ`s Test

  • H
    HaRaL Official 25 - May - 2024 00 Min 10 Sec 20/20
  • S
    Shad Ali Shah 26 - Jul - 2024 10 Min 11 Sec 17/20
  • S
    sarmad fida 06 - Jun - 2024 06 Min 45 Sec 16/20
  • H
    Hassam Shahid 30 - Jun - 2024 07 Min 25 Sec 16/20
  • M
    M.Shakeel Arshid Waince 03 - May - 2024 06 Min 11 Sec 15/20
  • G
    graphic angel 27 - Jul - 2024 04 Min 13 Sec 14/20
  • S
    Sadia 13 - Jun - 2024 06 Min 49 Sec 14/20
  • A
    Abdul Qayyum 25 - May - 2024 07 Min 00 Sec 14/20
  • M
    Muhammad Sajjad 17 - Nov - 2024 12 Min 30 Sec 14/20
  • A
    Asifa Baloch 12 - Jul - 2024 00 Min 13 Sec 13/20
  • M
    Madiha Naz 23 - Apr - 2024 05 Min 41 Sec 13/20
  • I
    Imran Haider 06 - Jun - 2024 11 Min 32 Sec 13/20
  • R
    Rai Hasis 02 - Jun - 2024 04 Min 56 Sec 12/20
  • A
    Abdul latif 14 - May - 2024 07 Min 28 Sec 12/20
  • A
    Abida Awan 31 - Jul - 2024 08 Min 50 Sec 12/20

PPSC Economics Chapter 1 Important MCQ's

Sr.# Question Answer
1 In the short run firm in perfect competition will still produce provided.
A. The price covers average variable cost
B. The price covers variable cost
C. The price covers average fixed cost
D. The price covers fixed cost
2 In perfect competation.
A. The price equals the marginal revenue
B. The price equals the average variable cost
C. The fixed cost equals the variable costs
D. The price equals the total costs
3 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
4 Finding a partner to work with abroad is called a.
A. Takeover
B. Merger
C. Acquisition
D. Joint venture
5 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
6 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
7 A benefit to consumers of price discrimination is that
A. Some products are produced that would not other wise be produced
B. Producer surplus increases
C. Consumer surplus decreases
D. Firms profits increase
8 If the price is less than the average cost but higher than the average variable costs.
A. The firm is making a loss and will should own in the short term.
B. The firm is making a profit.
C. The firm is making a loss but will continue to produce in the short term
D. The firm is making a loss and is making a negative contribution to fixed costs
9 Aggregate demand refers to the total demand for all domestically produced goods and services in an economy generated from.
A. The household and government sectors
B. The household sector
C. All sectors except the rest of the world
D. All sectors including the rest of the world.
10 Which of the following is not an obvious or direct determinant of a country's imports.
A. Real exchange rate
B. Income
C. Tariff rates
D. Interest rate

Test Questions