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

If the price is less than the average cost but higher than the average variable costs.

Question # 2

In monopoly which of the following is true.

Question # 3

Demand pull inflation may be caused by

Question # 4

In land intensive method which mean production is used comparativelymore

Question # 5

In a recession, GDP.

Question # 6

A demand switching policy could be.

Question # 7

In a Boom

Question # 8

In a command economy

Question # 9

The precautionary demand for money is

Question # 10

To be allocatively efficient ta firm must produce where

Question # 11

Demand for primary products is likely to be

Question # 12

There are three fundamental questions every society must answer Which of the following is one of these questions.

Question # 13

The marginal Revenue product is.

Question # 14

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

Question # 15

Any combination of products inside the production possibility frontier is

Question # 16

Investment is an out stable element of aggregate demand because is depends heavily on.

Question # 17

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

Question # 18

Why is the law of diminishing marginal returns true.

Question # 19

In perfect competation.

Question # 20

Laboratory experiments cannot be performed in economics because.

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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 In marketing "USP " Stand for
A. Unique selling proposition
B. Underlying sales pitch
C. Unit sales point
D. Under sales procedure
2 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
3 Macro economics deals with
A. Only the decisions made by individuals and their results.
B. Only the decisions made by businesses and their results.
C. Mostly large scale decisions made by countries and governments, and their results.
D. Only the decisions made by individuals but not the results.
4 Profit making is basic motive in.
A. Socialism
B. Mixed economy
C. Communism
D. Capitalism
5 The demand for a product would be more inelastic.
A. The greater is the time under consideration
B. The greater is the number of substitutes available to buyers
C. The less expensive is the product in relation to incomes
D. all of the above.
6 What does the phrases "there is no such thing as a free lunch'mean"
A. Individuals must always pay money for the food the eat.
B. No restaurant wner will provide food to patrons unless they pay her
C. Restaurant owners act selfishly
D. Consumption of any good requires that other goods be given up
7 Which of the following would decrease aggregate demand.
A. Increased consumption
B. Increasing export revenue
C. Increased taxation revenue
D. Increased investment
8 The Philips curve shows the relationship between inflation and what?
A. The balance of trade
B. The rate of growth in an economy
C. The rate of price increases
D. Un employment
9 Which of the following is not likely to be a government objective.
A. Increasing employment
B. Increasing economic growth
C. Increasing government spending
D. Increasing the level of exports
10 The resources in an economy are
A. Constantly increasing
B. Fixed at any moment
C. Constant decreasing
D. Able to be transferred easily between industries

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