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

  • Total Questions20

  • Time Allowed20

Start Test Download PDF

PPSC Economics Topic 1 Basic Economics

00:00
Question # 1

If employees cannot accept a job because of the costs of moving this is known as.

Question # 2

Which is the most volatile component of aggregate demand.

Question # 3

The marginal propensity to consume in a less Developed Country is likely to be.

Question # 4

In monopolistic competition firms profit maximize where

Question # 5

Less Developed countries lend to have

Question # 6

What is the effect of imposing a fixed per unit tax on a good on its equilibrium price and quantity.

Question # 7

Globalization is likely to increase with

Question # 8

A mixed economy

Question # 9

The free market involves

Question # 10

Which of the following is not one of the basic economic questions.

Question # 11

A profit maximizing firm will employ labour up to the point where.

Question # 12

Government policies that focus on increasing production rather than demand are called.

Question # 13

Any combination of products inside the production possibility frontier is

Question # 14

A significant increase in the government budget deficit is likely to.

Question # 15

A movement along the supply curve may be caused by

Question # 16

The precautionary demand for money is

Question # 17

Occupational immobility of labour occurs if.

Question # 18

If labour productivity per week is 200 units and there are 5 employees what is the total output.

Question # 19

If product an inferior good.

Question # 20

An increase in productivity should.

Submit

Prepare Complete Set Wise PPSC Economics Topic 1 Basic Economics MCQs Online With Answers


Topic Test

00:00
Submit
 
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.

Start Chapter 1 Test

Top Scorers Of PPSC Economics Topic 1 Basic Economics MCQ`s Test

  • H
    HaRaL Official 25 - May - 2024 00 Min 10 Sec 20/20
  • S
    Shad Ali Shah 26 - Jul - 2024 10 Min 11 Sec 17/20
  • S
    sarmad fida 06 - Jun - 2024 06 Min 45 Sec 16/20
  • H
    Hassam Shahid 30 - Jun - 2024 07 Min 25 Sec 16/20
  • M
    M.Shakeel Arshid Waince 03 - May - 2024 06 Min 11 Sec 15/20
  • G
    graphic angel 27 - Jul - 2024 04 Min 13 Sec 14/20
  • S
    Sadia 13 - Jun - 2024 06 Min 49 Sec 14/20
  • A
    Abdul Qayyum 25 - May - 2024 07 Min 00 Sec 14/20
  • M
    Muhammad Sajjad 17 - Nov - 2024 12 Min 30 Sec 14/20
  • A
    Asifa Baloch 12 - Jul - 2024 00 Min 13 Sec 13/20
  • M
    Madiha Naz 23 - Apr - 2024 05 Min 41 Sec 13/20
  • I
    Imran Haider 06 - Jun - 2024 11 Min 32 Sec 13/20
  • R
    Rai Hasis 02 - Jun - 2024 04 Min 56 Sec 12/20
  • A
    Abdul latif 14 - May - 2024 07 Min 28 Sec 12/20
  • A
    Abida Awan 31 - Jul - 2024 08 Min 50 Sec 12/20

PPSC Economics Chapter 1 Important MCQ's

Sr.# Question Answer
1 Can economic theories be tested.
A. No since individuals will seldom respond in predictable ways
B. Yes, since all individuals respond int he same ways to the same situation.
C. No , since the general behavior of a large numebr of individuals cannot be predicated
D. Yes , since people will, on average, respond in predictable ways to changes in costs and benefits.
2 A cut in the income tax rate designed to encourage household consumption is an example of.
A. Expansionary demand side policy
B. Contractionary demand side policy
C. Expansionary supply side policy
D. Contractionary supply side policy
3 According to the quantity theory of money an increase in the money supply is most likely to lead ot inflation if
A. The velocity of circulation decreases
B. The number of transactions decreases
C. There is deflation
D. The velocity of circulation and the number of transactions is constant
4 An economy may operate outside the production possibility frontier it.
A. It is not utilizing its resources fully
B. It is being productively efficient
C. It is a maxed economy
D. It is trading with other economics
5 In the short run firm in perfect competition will still produce provided.
A. The price covers average variable cost
B. The price covers variable cost
C. The price covers average fixed cost
D. The price covers fixed cost
6 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
7 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
8 In a perfectly competitive labour market firms are wage takers and the marginal cost of labour equals.
A. the average cost of labour
B. The marginal product
C. The marginal revenue
D. The total cost of labour
9 The index used most often to measure inflation is the
A. Consumer price index
B. Wholesale price index
C. Student price index
D. Producer price index
10 A welfare less occurs in monopoly where
A. The price in greater than the marginal cost
B. The price is greater than the marginal benefit
C. The price is greater than the average revenue
D. Has the right to investigate monopolies and will assess each one on its own mertis

Test Questions

Share your comments & questions here

Guest

  • No comments yet. Be the first to comment!