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 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 # 2

Labour productivity measures.

Question # 3

Ordinal measurement approach was not presented by

Question # 4

If firms join together to set prices and quantities this is known as what.

Question # 5

In marketing "USP " Stand for

Question # 6

To reduce cyclical unemployment the government might.

Question # 7

In a recession, GDP.

Question # 8

Which of the following would increase aggregate demand.

Question # 9

Demand for primary products is likely to be

Question # 10

A fall in interest rates is likely to

Question # 11

Investment depend mainly on.

Question # 12

Capital, as economists use the term.

Question # 13

Globalization is made more difficult by

Question # 14

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

Question # 15

Compared to the case of perfect competition, a monopolist is more likely to

Question # 16

Economists use the term marginal utility to mean.

Question # 17

Unfair competition does not include

Question # 18

Resources in an economy

Question # 19

A higher GDP per capita may not mean that the quality of life has really improved because.

Question # 20

If an increase in investment leads to a bigger increase in national income this is called the.

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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.

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PPSC Economics Chapter 1 Important MCQ's

Sr.# Question Answer
1 If product an inferior good.
A. Demand is inversely related to income
B. Demand is inversely related to price
C. Demand is directly related to price
D. Demand is inversely related to the price of substitutes
2 To be allocatively efficient ta firm must produce where
A. the total cost equals demand
B. the average revenue equals the marginal revenue
C. The price equals the average cost
D. The price equals the marginal cost
3 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
4 The socially optimal rate of growth is
A. Zero
B. Negative
C. Where the marginal social benefit the marginal social cost
D. total social costs are minimized
5 Which of the following would increase aggregate demand.
A. Increasing saving
B. Increasing import spending
C. Increasing taxation revenue
D. increased investment
6 The best describes consumer surplus.
A. The price consumers are willing to pay for a unit
B. The cost of providing a unit.
C. The profits made by a firm
D. The difference the price a consumer pays for an item and the price he is willing to pay.
7 Firms in perfect competition face a
A. Perfectly elastic demand curve
B. Perfectly inelastic demand curve
C. Perfectly elastic supply curve
D. Perfectly inelastic supply curve
8 Which of the following would decrease aggregate demand.
A. Increased consumption
B. Increasing export revenue
C. Increased taxation revenue
D. Increased investment
9 In cartels.
A. Firms complete against each other
B. Price wars are common
C. Firms use price to win market share from competitors
D. Firms collude
10 Earning from primary products are often unstable because.
A. Demand is price elastic
B. Supply is price elastic
C. Supply conditions are relatively stable
D. Supply conditions are unstable

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