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

The marginal propensity to consume is equal to.

Question # 2

In a command economy

Question # 3

Labour productivity measures.

Question # 4

To be productively efficient a firm must produce where

Question # 5

Demand pull inflation may be caused by

Question # 6

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

Question # 7

A model of game theory of oligopoly is known as the

Question # 8

Game theory

Question # 9

The marginal revenue curve in monopoly

Question # 10

What does the phrases "there is no such thing as a free lunch'mean"

Question # 11

Demand for labour is more likely to be wage inelastic if.

Question # 12

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

Question # 13

A depreciation of currency occur when

Question # 14

An independent assessment of the impact of firm's activities on society is called a.

Question # 15

If an economy is productively efficient.

Question # 16

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

Question # 17

Menu costs in relation to inflation refer to

Question # 18

Aggregate demand refers to the total demand for all domestically produced goods and services in an economy generated from.

Question # 19

Which does the government not control directly.

Question # 20

An increase in price all other things unchanged leads 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 marketing "USP " Stand for
A. Unique selling proposition
B. Underlying sales pitch
C. Unit sales point
D. Under sales procedure
2 A reduction in the money supply is likely to
A. Reduce interest rates
B. Increase the interest rate
C. Increase inflation
D. Decrease deflation
3 A profit maximizing firm in perfect competition produces where
A. Total revenue is maximized
B. Marginal revenue equals zero
C. Marginal revenue equals marginal cost
D. Marginal revenue equals average cost
4 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
5 The marginal Revenue product is.
A. Upward sloping due to the law of demand
B. Upward sloping due to the law of marginal utility
C. Downward sloping due to the law of diminishing returns.
D. Downward sloping due to the law of supply
6 Barriers to entry do not include
A. Patents
B. Internal economics of scale
C. Mobility of resources
D. High investment costs
7 Normal profit occurs when
A. Average revenue equals average variable cost
B. Marginal revenue equals marginal cost
C. Average revenue equals marginal cost
D. Average revenue equals average cost
8 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
9 The law of demand states that.
A. As the quantity demanded rises, the price rises.
B. As the price rises the quantity demanded rises
C. As the price rises, the quantity demanded falls.
D. As supply rises, the demand rises.
10 In pure monopoly what is the relation between the price and teh marginal revenue.
A. The price is greater than the marginal revenue
B. The price is les than the marginal revenue
C. There is no relation
D. They are equal

Test Questions

Share your comments & questions here

Guest

  • No comments yet. Be the first to comment!