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

An increase in productivity should.

Question # 2

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

Question # 3

Increase un employment benefits and less incentive to work would.

Question # 4

The bowed shape of the production possibilities curve illustrtres.

Question # 5

The marginal rate of tax paid is.

Question # 6

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

Question # 7

Which of the following rights be a scarce good.

Question # 8

Less demand in the economy may increase unemployment this may lead to less spending which may reduce demand further This is called.

Question # 9

A public good will

Question # 10

According to schumpater

Question # 11

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

Question # 12

Government policies that focus on increasing production rather than demand are called.

Question # 13

An increase in national income is.

Question # 14

If there is a price celling there will be

Question # 15

To maximize sales revenue a firm should produce where

Question # 16

Economists use the term marginal utility to mean.

Question # 17

A significant increase in the government budget deficit is likely to.

Question # 18

Occupational immobility of labour occurs if.

Question # 19

A movement along the demand curve may be caused by

Question # 20

An expansionist fiscal policy could include

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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 accelerator theory of investment says that induced investments determined by.
A. The rate of change of national income
B. Expectations
C. The level of national income
D. The level of aggregate demand
2 A recurring theme in economics is.
A. People have unlimited wants in the face of limited resources
B. There are unlimited resources
C. Our country is rich, we just don't realize it
D. People have limited wants in the face of limited resource.
3 What does ceteris paribus mean.
A. "Scientific method"
B. "Rational thinking"
C. "Other things remaining the same"
D. "There is no such thing as a free lunc"
4 Say's law states that
A. Supply creates its own demand
B. Demand creates its own supply
C. There is no such things as a free lunch
D. Macro economics policy activism is essential to ensure full employment.
5 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
6 A deflationary policy could include
A. Increasing injections
B. Reducing taxation rates
C. Reducing interest rates
D. Reducing government spending
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 A profit maximizing firm will employ labour up to the point where.
A. Marginal revenue = Marginal product
B. Margial cost = Marginal product
C. Marginal revenue product = Average cost of labour
D. Marginal revenue product = Marginal cost of labour
9 Ordinal measurement approach was not presented by
A. Allen
B. Hicks
C. Edge worth
D. Robbins
10 Why does it make sense in assume that people are rational, if you want to predict their behavior.
A. People are not guided by emotions when making decisions
B. People wheo act in the way that best gets them what they want will tend to repeat that behavior, and will tend to learn from mistakes that they do make
C. People never make mistakes, and tend to make the correct choices all of the time
D. People always logically figure out what to do.

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