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

The resources in the economy do not include.

Question # 2

The standard of living is often measured by

Question # 3

The socially optimal rate of growth is

Question # 4

A multinational busniess

Question # 5

To maximize sales revenue a firm should produce where

Question # 6

A benefit to consumers of price discrimination is that

Question # 7

An increase in the costs of production will

Question # 8

If there is a price celling there will be

Question # 9

If the marginal revenue is less than the marginal cost then to profit maximize a firm should.

Question # 10

"Reducing inflation is a more important objective than economic growth" is an example of.

Question # 11

A reflationary policy

Question # 12

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

Question # 13

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

Question # 14

If there is cyclical unemployment in the economy the government might.

Question # 15

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

Question # 16

An increase in consumption at any given level of income is likely to lead to.

Question # 17

Total revenue equals

Question # 18

A public good will

Question # 19

Inflation.

Question # 20

The bowed shape of the production possibilities curve illustrtres.

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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 Which of the following is a characteristic of pure monopoly.
A. one seller of the product
B. Low barriers to entry
C. Close substitute products
D. Perfect information
2 An increase in demand for a product should.
A. Increase equilibrium price and quantity.
B. Decrease equilibrium price and quantity.
C. Increase equilibrium price and decrease quantity.
D. Decrease equilibrium price and increase quantity.
3 Market is called father of economics
A. Marshall
B. Robbins
C. Keynes
D. Friedman
4 Which of the following is a policy instrument .as opposed to a government objective.
A. Lower interest rates
B. A better balance of trade position
C. Faster economic growth
D. Lower un employment
5 In perfect competition.
A. the products firm offer are very similar
B. Products are heavily differentiated
C. A few firms dominate the market
D. Consumers have limited information
6 To reduce cyclical unemployment the government might.
A. Increase the budget surplus
B. Increase the balance of payments deficit
C. Reduce interest rates
D. Reduce government expenditure
7 Economics growth can be seen by an outward shift of.
A. The production possibility frontier
B. The gross domestic barrier
C. The marginal consumption frontier
D. The Minimum Efficient scale
8 Demand for primary products is likely to be
A. Very sensitive to price
B. Price elastic
C. Unit elastic
D. Income inelastic
9 If marginal product is below average product.
A. The total product will fall
B. The average product will fall
C. Average variable costs will fall
D. Total revenue will fall
10 A government might use tax to.
A. Discourage consumption of positive externalities
B. Discourage consumption of public goods
C. Discourage consumption of merit goods
D. Discourage consumption of negative externalities

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