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

00:00
Question # 1

To be allocatively efficient ta firm must produce where

Question # 2

An injection of funds into a less developed country might set off the

Question # 3

With a positive externality

Question # 4

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

Question # 5

Supply is likely to be more price elastic.

Question # 6

An increase in demand for a product should.

Question # 7

Demand for a normal product may shift outwards if.

Question # 8

The average variable cost curve.

Question # 9

In land intensive method which mean production is used comparativelymore

Question # 10

According to the quantity theory of money an increase in the money supply is most likely to lead ot inflation if

Question # 11

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 # 12

Economics growth can be seen by an outward shift of.

Question # 13

The marginal rate of tax paid is.

Question # 14

A profit maximizing firm in perfect competition produces where

Question # 15

Economists use the term utility to mean

Question # 16

In the long run in perfect competition

Question # 17

Economic growth can be measured by

Question # 18

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

Question # 19

To maximize sales revenue a firm should produce where

Question # 20

In monopolistic competition

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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 An increase in aggregate demand if aggregate supply is totally inelastic will.
A. Increase price but not output
B. Increase output but not price
C. Increase out put and price
D. Decrease output and price
2 What does ceteris paribus mean.
A. "Scientific method"
B. "Rational thinking"
C. "Other things remaining the same"
D. "There is no such thing as a free lunc"
3 The marginal rate of tax paid is.
A. The total tax paid /total income
B. Total income/total tax paid
C. Change in the tax paid/change in income
D. Change in income/change in tax paid
4 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
A. Relational expectations hypothesis.
B. Active expectations hypothesis
C. Static expectations hypothesis
D. Adeptive expectations hypothesis
5 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
6 Occupational immobility of labour occurs if.
A. People lack information
B. People do not want to work
C. People do not have the right skills to work
D. People cannot afford to move location
7 To anticipate what the economy is going to do next the government will look at.
A. Lagging indicators
B. Flashing indicators
C. Coincidental iindicators
D. Leading indicators
8 To prevent the external value of the currency from failing the government might
A. Reduce interest rates
B. Sell its own currency
C. Buy its own currency with foreign reserves
D. Increase its own spending
9 Which does the government not control directly.
A. Spending on health
B. spending on defense
C. Firm's investment decisions
D. spending on education
10 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

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