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 length of a business cycle would be measured from

Question # 2

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

Question # 3

An increase in investment is most likely to be caused by.

Question # 4

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

Question # 5

If the economy grows the government's budget position will automatically

Question # 6

The resources in the economy do not include.

Question # 7

According to schumpater

Question # 8

In a free market the combination of products produced will be determined by.

Question # 9

Globalization is made more difficult by

Question # 10

If inflationary expectations increase, the short run Phillip's curve will

Question # 11

If people are made unemployed because of a fall in aggregate demand this is known as.

Question # 12

The accelerator theory of investment says that induced investments determined by.

Question # 13

When supply increases in an agricultural market famer's earnings might fall because.

Question # 14

A public good

Question # 15

Globalization is likely to increase with

Question # 16

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

Question # 17

In a less developed country.

Question # 18

If input price adjusted very slowly to output prices, the Phillip's curve would be.

Question # 19

Improved training of employees would.

Question # 20

Over time the price of primary products tends to fall because.

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Economics
1st Chapter

PPSC Economics Chapter 1 Test

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PPSC Class Economics Chapter 1 Important MCQ's

Sr.# Question Answer
1 Which of the following best defines price discrimination.
A. Charging different prices on the basis of race
B. Charging different prices for goods with different costs of production
C. Charging different prices based on cost of service differences.
D. Selling a certain product of given quality and cost per unit at different prices to different buyers
2 Lower interest rates are likely to.
A. Decrease consumption
B. Increase cost of borrowing
C. Encourage saving
D. Increase spending
3 Tariffs.
A. Decrease the domestic price of a product.
B. Increase government earnings from tax
C. Increase the quantity of imports
D. Decrease domestic production
4 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
5 In the long run in perfect competition
A. Price = average= cost = marginal cost
B. Price = average cost = total cost
C. The price covers fixed cost
D. total revenue = total variable cost
6 In a free market the combination of products produced will be determined by.
A. Market forces of supply and demand
B. The government
C. The law
D. The public sector
7 A movement along the demand curve may be caused by
A. A change in income
B. A change en the number of buyers
C. A change in advertising
D. A shift in supply
8 Open market operations occur when the government.
A. Reduces the interest rate
B. Buys and sells bonds and securities
C. Increases taxation
D. Increases the exchange rate
9 A public good will
A. Be underprovided in the free market
B. Be overprovided in the free market
C. Not be provided in the free market
D. Has no opportunity cost
10 Equilibrium in the market for good A obtains.
A. When there is no surplus or shortage prevailing in the market
B. Where the demand and supply curves for A intersect
C. When all of what is produced of A is consumed
D. All of the above

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