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

An increase in the price of a complement or produce.A would.

Question # 2

Developing economies usually

Question # 3

According to classical models the level of employment is determined primarily by

Question # 4

GDP plus net property income from aboard equals what.

Question # 5

An increase in price all other things unchanged leads to.

Question # 6

Laboratory experiments cannot be performed in economics because.

Question # 7

The concept of "Interdependence of markets" can refer to the interdependence between.

Question # 8

The marginal rate of tax paid is.

Question # 9

To anticipate what the economy is going to do next the government will look at.

Question # 10

An increase in aggregate demand will have most effect on prices if.

Question # 11

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

Question # 12

If marginal cost is positive and falling.

Question # 13

In perfect competition.

Question # 14

The effects of inflation on the price competitiveness of a country's products may be offset by

Question # 15

Gross National product equals

Question # 16

If the fprice in a market is fixed by the government below equilibrium.

Question # 17

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

Question # 18

A benefit to consumers of price discrimination is that

Question # 19

If an economy is productively efficient.

Question # 20

In the long run in perfect competitiion

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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 A study of how increase in the minimum wage rate will effect the national unemployment rate is an example of.
A. Descriptive economics
B. Normative economics
C. Macro economics
D. Micro economics
3 Assuming a downward sloping demand curve and upward sloping supply curve a higher equilibrium price may be caused by.
A. An fall in demand
B. An increase in supply
C. Improvements in production technology
D. An increase in demand
4 An increase in aggregate demand will have most effect on prices if.
A. Aggregate supply is price inelastic
B. Aggregate supply is price elastic
C. Aggregate supply has a unitary price elasticity
D. Aggregate demand is price inelastic
5 If an increase in investment leads to a bigger increase in national income this is called the.
A. Accelerator
B. Aggregate demand
C. Monetarism
D. Multiplier
6 An increase in costs will
A. Shift aggregate demand
B. Shift aggregate supply
C. Reduce the natural rate of unemployment
D. Increases the productivity of employees
7 The difference between gross investment and net investment is.
A. Depreciation
B. Acceleration
C. Deceleration
D. Capital investment
8 A contraction in supply occurs when
A. Demand shifts out wards
B. The supply curve shifts inwards
C. The quantity supplied falls when the price falls
D. The supply curve shifts outwards
9 A shift in supply will have a bigger effect on price than output if demand is.
A. Income elastic
B. Income inelastic
C. Price elastic
D. Price inelastic
10 A profit maximizing firm will employ labour up to the point where.
A. Marginal revenue = Marginal product
B. Margial cost = Marginal product
C. Marginal revenue product = Average cost of labour
D. Marginal revenue product = Marginal cost of labour

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