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

If demand increase in a market this will usually lead to.

Question # 2

Can economic theories be tested.

Question # 3

A cut in the tax rate designed to reduce the business investment is an example of.

Question # 4

If product an inferior good.

Question # 5

Why does it make sense in assume that people are rational, if you want to predict their behavior.

Question # 6

In the long run in perfect competition

Question # 7

Earning from primary products are often unstable because.

Question # 8

Friend man's theory of consumption focuses on

Question # 9

In land intensive method which mean production is used comparativelymore

Question # 10

Demand pull inflation may be caused by

Question # 11

In the long term a firm will produce provident the revenue covers.

Question # 12

In marketing "USP " Stand for

Question # 13

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

Question # 14

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

Question # 15

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

Question # 16

Capital, as economists use the term.

Question # 17

Which of the following is not a global organization?

Question # 18

The demand for a product would be more inelastic.

Question # 19

If marginal product is below average product.

Question # 20

If the price was fixed below the equilibrium price there would be.

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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.

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PPSC Chapter 1 Important MCQ's

Sr.# Question Answer
1 The law of diminishing returns states that as more of a variable factor is added to a certain amount of a fixed factor beyond some point.
A. Total Physical product begins to fall
B. The marginal physical product rises
C. The marginal physical product falls
D. The average physical product falls.
2 The sacrifice involved when you choose a particular course of action is called the
A. Alterative
B. Opportunity cost
C. Consumer cost
D. Producer cost
3 A subsidy paid to producers.
A. Shifts the supply curve
B. Shifts the demand curve
C. Leads to a contractional supply
D. Leads to an extension of supply
4 When referring to economic growth we normally refer to.
A. Growth in actual real per capita output
B. Growth in potential real per capita output
C. Growth in actual nominal per capita output
D. Growth in potential real per capita output
5 According to the quantity theory of money an increase in the money supply is most likely to lead ot inflation if
A. The velocity of circulation decreases
B. The number of transactions decreases
C. There is deflation
D. The velocity of circulation and the number of transactions is constant
6 The average variable cost curve.
A. Is derived from the average fixed costs
B. Converges with the average cost as output increases
C. Equals revenue minum profits
D. Equal the total costs divided by the output
7 Price equal to.
A. Total revenue -quantity
B. Total revenue/quantity sold
C. total quantity sold * quantity sold
D. Total revenue/total cost
8 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
9 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
10 A reduction in the costs of production will
A. Lead to a movement along the supply curve
B. Shift the demand curve
C. Shift the supply curve
D. Lead to an extension of supply

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