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

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PPSC Economics Topic 1 Basic Economics

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Question # 1

The economists who emphasized wage flexibility as a solution for unemployment were.

Question # 2

A fall in interest rates is likely to

Question # 3

Resources in an economy

Question # 4

Companies in the private sector are owned by

Question # 5

In land intensive method which mean production is used comparativelymore

Question # 6

The bowed shape of the production possibilities curve illustrtres.

Question # 7

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

Question # 8

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

Question # 9

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

Question # 10

In a recession, GDP.

Question # 11

Friend man's theory of consumption focuses on

Question # 12

The profit per scale is a measure of.

Question # 13

A movement along the supply curve may be caused by

Question # 14

Rapid increases in the price level during periods of recession or high unemployment are known as.

Question # 15

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

Question # 16

An increase in price all other, things unchanged leads to.

Question # 17

Prices that do not always adjust rapidly to maintain equality between quantity supplied and quantity demanded are.

Question # 18

Revealed preference theory was presented by.

Question # 19

All currencies other than the domestic currency of a given country are referred to as.

Question # 20

Scarcity means that

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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 economics we ofthe say that a particular event will occur "as long as other things stay the same. " The conduction that other thing saty the same is also called.
A. Ceteris paribus
B. Marginal decision making
C. Incentives
D. Secondary effects
2 A deflationary policy could include
A. Increasing injections
B. Reducing taxation rates
C. Reducing interest rates
D. Reducing government spending
3 The price mechanism cannot.
A. Act as a signal
B. Act as an incentive
C. Act as a rationing device
D. Shift the demand curve
4 If there is a price celling which of the following is NOT likely to occur.
A. Rationing by first come first served
B. Black markets
C. Gray markets
D. Sellers providing goods for free that were formerly not free
5 The marginal Revenue product is.
A. Upward sloping due to the law of demand
B. Upward sloping due to the law of marginal utility
C. Downward sloping due to the law of diminishing returns.
D. Downward sloping due to the law of supply
6 In the long term a firm will produce provident the revenue covers.
A. Fixed costs
B. Variable cost
C. Total costs
D. Revenue
7 If the exchange rate is above the equilibrium level.
A. There is excess demand and teh exchange rate will fall
B. There is excess supply and the exchange rate will fall
C. There is excess demand and the exchange rate will rise
D. There is excess supply and the exchange rate will rise
8 A multinational busniess
A. Sells products abroad
B. Produces in more than one country
C. Imports from abroad
D. Sells only domestically
9 If there is a price floor there will be.
A. Shortages
B. Surpluses
C. Equilibrium
D. All of these
10 Which of the following would increase aggregate demand.
A. Increasing saving
B. Increasing import spending
C. Increasing taxation revenue
D. increased investment

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