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

Revealed preference theory was presented by.

Question # 2

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

Question # 3

Inflation.

Question # 4

Why does it make sense in assume that people are rational, if you want to predict their behavior.

Question # 5

An increase in interest rates.

Question # 6

An independent assessment of the impact of firm's activities on society is called a.

Question # 7

In a perfectly competitive labour market firms are wage takers and the marginal cost of labour equals.

Question # 8

Developing economies usually

Question # 9

Occupational immobility of labour occurs if.

Question # 10

If firm earn normal profits.

Question # 11

The first level of output at which the long run average costs are minimized is called.

Question # 12

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.

Question # 13

Demand pull inflation may be caused by

Question # 14

The length of a business cycle would be measured from

Question # 15

A multinational busniess

Question # 16

The accelerator theory of investment says that induced investments determined by.

Question # 17

GDP plus net property income from aboard equals what.

Question # 18

A reduction in the costs of production will

Question # 19

What makes economics scientific.

Question # 20

The marginal propensity to consume is equal to.

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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 The concept of "Interdependence of markets" can refer to the interdependence between.
A. Two or more factor markets
B. Goods and factor markets
C. Goods markets
D. All of the above
2 An increase in demand for a product should.
A. Increase equilibrium price and quantity.
B. Decrease equilibrium price and quantity.
C. Increase equilibrium price and decrease quantity.
D. Decrease equilibrium price and increase quantity.
3 In a recession a government.
A. Is likely to want to increase demand in the economy
B. Is likely to want to decrease demand in the economy
C. Is likely to want to stabilize demand in the economy
D. Is likely to want to increase supply in the economy
4 When an economy first begins to frow more slowly.
A. GDP increase
B. Inflation is likely to increase
C. Stock levels are likely to increse
D. Investment in equipment is likely to increase
5 Horizontal integration may lead to internal economics of scale. Which of the following is not a type of internal economy of scale.
A. Purchasing
B. Technical
C. Financial
D. Safety
6 Labour productivity measures.
A. The output per worker
B. The output per machine
C. Total output
D. Marginal output
7 Compared to the case of perfect competition, a monopolist is more likely to
A. Charge a higher price
B. Produce a lower quantity of the product
C. Make a greater amount of economic profit
D. All of the above
8 The length of a business cycle would be measured from
A. Peak t trough
B. Trough to peak
C. Peak to Peak
D. The slump to the expansion
9 The hypothesis that people know the true model of the economy and that they use this model and al available information to form their expectations of the future is the
A. Relational expectations hypothesis.
B. Active expectations hypothesis
C. Static expectations hypothesis
D. Adeptive expectations hypothesis
10 Which of the following is true.
A. If the marginal cost is greater than the average cost the average cost fallls.
B. If the marginal cost is greater than the average cost the average cost increases.
C. If the marginal cost is positive total costs are maximized
D. If the marginal cost is negatives total costs increase at a decreasing rate if output increases

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