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

An expansionist fiscal policy could include

Question # 2

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

Question # 3

For perfectly competitive firm

Question # 4

Which does the government not control directly.

Question # 5

If injection are less than with drawls at the full employment level of national income there is.

Question # 6

If injections are greater than withdrawals.

Question # 7

According to schumpater

Question # 8

Revealed preference theory was presented by.

Question # 9

The Philips curve shows the relationship between inflation and what?

Question # 10

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

Question # 11

Tariffs.

Question # 12

All currencies other than the domestic currency of a given country are referred to as.

Question # 13

Demand for primary products is likely to be

Question # 14

If the price elasticity of demand for a product in market A is -0.2 and in market B is -3 a price discriminator will charge.

Question # 15

A model of game theory of oligopoly is known as the

Question # 16

Rapid increases in the price level during periods of recession or high unemployment are known as.

Question # 17

The hypothesis that people know the true model of the economy and that they use this model and al available information to form their expectations of the future is the

Question # 18

If the exchange rate is above the equilibrium level.

Question # 19

In a less developed country.

Question # 20

A fall in interest rates is likely to

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 a recession a government.
A. Is likely to want to increase demand in the economy
B. Is likely to want to decrease demand in the economy
C. Is likely to want to stabilize demand in the economy
D. Is likely to want to increase supply in the economy
2 For perfectly competitive firm
A. Price equals marginal revenue
B. Price is greater than marginal revenus
C. Price equal total revenue
D. Price equals total cost
3 What is the effect of imposing a fixed per unit tax on a good on its equilibrium price and quantity.
A. Price falls, quantity rises
B. Price rises, quantity falls
C. Both price and quantity fall
D. Both price and quantity rise
4 If the economy grows the government's budget position will automatically
A. Worsen
B. Improve
C. Stay the same
D. Increase with inflaction
5 In economics, the term 'scarcity' refers to the fact that
A. Everything worthwhile costs money
B. No society is able to produce enough to fully satisfy the desires of people for goods.
C. Even in wealthy societies, like the united states, some people are poor
D. sometimes shortages of product result if its price is set too low.
6 Laboratory experiments cannot be performed in economics because.
A. Of resource scarcity
B. Economics is a natural science
C. Of the difficulty of distinguishing between normative and positive statements.
D. Economics is a social science
7 In marketing "USP " Stand for
A. Unique selling proposition
B. Underlying sales pitch
C. Unit sales point
D. Under sales procedure
8 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.
9 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
10 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.

Test Questions

Share your comments & questions here

Guest

  • No comments yet. Be the first to comment!