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

In monopoly in long run equilibrium.

Question # 2

Which of the following is true.

Question # 3

Increase un employment benefits and less incentive to work would.

Question # 4

Earning from primary products are often unstable because.

Question # 5

An increase in aggregate demand if aggregate supply is totally inelastic will.

Question # 6

The index used most often to measure inflation is the

Question # 7

Gross National product equals

Question # 8

A movement along the supply curve may be caused by

Question # 9

Which of the following is an injection into the economy.

Question # 10

A contraction in supply occurs when

Question # 11

A welfare less occurs in monopoly where

Question # 12

Sales taxes are generally considered to be.

Question # 13

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

Question # 14

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

Question # 15

A demand switching policy could be.

Question # 16

Which of the following is the government most likely to subsidies.

Question # 17

Who advocates laissez fair.

Question # 18

Which of the following rights be a scarce good.

Question # 19

Total revenue equals

Question # 20

If the marginal revenue is positive

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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 The length of a business cycle would be measured from
A. Peak t trough
B. Trough to peak
C. Peak to Peak
D. The slump to the expansion
2 The marginal revenue curve in monopoly
A. Equals the demand curve
B. Is a parallel with the demand curve
C. Lies below and converges with the demand curve
D. Lies below and diverges from the demeaned curve
3 The price mechanism does not act as a
A. Signal
B. Incentive
C. Rationing device
D. Indicator of income
4 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
5 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
6 Human wants are
A. Always fixed
B. Limited
C. Unlimited
D. Likely to decrease over time
7 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"
8 According to the law of diminishing utility.
A. Utility is at a maximum with the first unit
B. Increasing units of consumption increase the marginal utility
C. Marginal product will fall as more units are consumed
D. Total utility will rise at a falling rate as more units are consumed
9 For perfectly competitive firm
A. Price equals marginal revenue
B. Price is greater than marginal revenus
C. Price equal total revenue
D. Price equals total cost
10 Which of the following is not a global organization?
A. IMF
B. World bank
C. Competition commission
D. WTO

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