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

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PPSC Economics Topic 1 Basic Economics

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Question # 1

A subsidy paid to producers.

Question # 2

The agricultural price support program is an example of.

Question # 3

Which of the following is an injection into the economy.

Question # 4

Gross National product equals

Question # 5

Total revenue equals

Question # 6

To be allocatively efficient ta firm must produce where

Question # 7

As income increases.

Question # 8

In a less developed country.

Question # 9

Supply side policies are most appropriate to cure.

Question # 10

If a maximum price is set below equilibrium there will be.

Question # 11

Demand pull inflation may be caused by

Question # 12

Which of the following is true.

Question # 13

Unfair competition does not include

Question # 14

Which of the following is a normative statement in economics.

Question # 15

If one car company takes over another car company this is an example of which type of integration.

Question # 16

In marketing "USP " Stand for

Question # 17

Which does the government not control directly.

Question # 18

If an economy is productively efficient.

Question # 19

Less Developed countries lend to have

Question # 20

Which of the following is not an argument for protectionism.

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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 Economists use the term marginal utility to mean.
A. Additional satisfaction gained divided by additional cost of the last unit.
B. Additional satisfaction gained by the consumption of one more unit of a good
C. Total satisfaction gained when consuming a given number of units.
D. The process of comparing marginal units of all goods which could be purchased
2 If marginal cost is positive and falling.
A. Total cost is falling
B. Total cost is increasing at a falling rate
C. Total cost is falling at a falling rate
D. Total cost is increasing at an increasing rate.
3 Developing economies usually
A. Have large industrialized sectors
B. Are dependent on primary products
C. Have high levels of wealth
D. Earn more from exports than is spent on imports
4 Resources in an economy
A. Are always fixed
B. Can never decrease
C. Always increase over time
D. Are limited at any moment in time
5 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
6 Which is the most volatile component of aggregate demand.
A. Net exports
B. Consumption
C. Investment
D. Government spending
7 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
8 To adjust GDP from market prices to factor cost.
A. Add indirect taxes
B. Subtract subsidies
C. Deduct indirect taxes and subsides
D. Deduct indirect taxes and add subsides
9 Game theory
A. Firm are assumed to act independently
B. Firms are assumed to cooperate with each other
C. Firm collude as part of a cartel
D. Firms consider the actions of others before deciding what to do.
10 Which of the following is a normative statement in economics.
A. More spending by the government reduces poverty
B. Higher taxes lead to less desire to work
C. the UK Economy is growing fast relative to other European Union members
D. The Government should concentrate on reducing unemployment

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