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 the long run in perfect competitiion

Question # 2

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

Question # 3

Labour productivity measures.

Question # 4

Supply side policies are most appropriate to cure.

Question # 5

Demand for labour is more likely to be wage inelastic if.

Question # 6

An increase in the marginal propensity to consume will

Question # 7

Demand for a normal product may shift outwards if.

Question # 8

Economists use the term marginal utility to mean.

Question # 9

Which of the following rights be a scarce good.

Question # 10

Earning from primary products are often unstable because.

Question # 11

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

Question # 12

In monopolistic competition firms profit maximize where

Question # 13

Menu costs in relation to inflation refer to

Question # 14

Which of the following is a characteristic of pure monopoly.

Question # 15

The agricultural price support program is an example of.

Question # 16

Who advocates laissez fair.

Question # 17

A profit maximizing firm in perfect competition produces where

Question # 18

Economists use the term utility to mean

Question # 19

An economy may operate outside the production possibility frontier it.

Question # 20

Friend man's theory of consumption focuses on

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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 World trade has been increasing due to.
A. Increased tariffs
B. Increased legal barriers
C. Increased embargoes
D. Reduced protectionism
2 Free trade is based on the principle of
A. Comparative advantage
B. Comparative scale
C. Economics of advantage
D. Production possibility advantage
3 Government policies that focus on increasing production rather than demand are called.
A. Fiscal policies
B. Monetary policies
C. Incomes policies
D. Supply side policies
4 The accelerator assumes.
A. The marginal propensity to consume is constant
B. The economy is at full employment
C. There is a constant relationship between net investment and the rate of change of output
D. The multiplier is constant
5 The accelerator theory of investment says that induced investments determined by.
A. The rate of change of national income
B. Expectations
C. The level of national income
D. The level of aggregate demand
6 Sales taxes are generally considered to be.
A. Proportional taxes
B. Regressive taxes
C. Progressive taxes
D. Indirect taxes
7 "Income inequality can be high in the free market and should be reduce ".This is an example of what.?
A. Judicial economic statement.
B. Positive economic statement
C. Formative economic statement
D. Normative economic statement
8 In economics, the term 'scarcity' refers to the fact that
A. Everything worthwhile costs money
B. No society is able to produce enough to fully satisfy the desires of people for goods.
C. Even in wealthy societies, like the united states, some people are poor
D. sometimes shortages of product result if its price is set too low.
9 An increase in investment is most likely to be caused by.
A. Lower interest rates
B. Lower national income
C. A decreasing the marginal propensity to consume
D. An increase in with drywalls.
10 What makes economics scientific.
A. It tests theories against observations and modifies the theories if needed.
B. It uses numbers to measure things
C. It involves the use of experiments
D. It is a description of how thing work

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