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

An increase in national income is.

Question # 2

Which of the following is the government most likely to subsidies.

Question # 3

If an economy is productively efficient.

Question # 4

In monopoly when abnormal profits are made.

Question # 5

Gross National product equals

Question # 6

Labour productivity measures.

Question # 7

To reduce cyclical unemployment the government might.

Question # 8

The demand for a product would be more inelastic.

Question # 9

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

Question # 10

The bowed shape of the production possibilities curve illustrtres.

Question # 11

If there is a price celling there will be

Question # 12

Why is the law of diminishing marginal returns true.

Question # 13

According to the law of diminishing utility.

Question # 14

The length of a business cycle would be measured from

Question # 15

The index used most often to measure inflation is the

Question # 16

An increase in the price of a complement or produce.A would.

Question # 17

Which of the following would decrease aggregate demand.

Question # 18

Investment depend mainly on.

Question # 19

In a free market the combination of products produced will be determined by.

Question # 20

According to Keynes, the level of employment is determined by

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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 Injection are
A. Assumed to be exogenous
B. Assumed to be a function of national income
C. Decrease aggregate demand
D. Decrease the investment into an economy
2 If demand is price inelastic.
A. An increase in price must raise profits
B. An increase in price decreases revenue
C. An increase in price increase revenue
D. A decrease in price reduces sales.
3 Which of the following is necessary for a natural monopoly.
A. Economies of scale
B. A high proportion of the total cost is the cost of capital goods
C. The market is very small
D. All of the above
4 To maximize sales revenue a firm should produce where
A. Marginal cost is zero
B. Marginal revenue is maximized
C. Marginal revenue is zero
D. Marginal revenue equals marginal cost
5 Demand pull inflation may be caused by
A. An increase in costs
B. A reduction in interest rate
C. A reduction in government spending
D. An outward shift in aggregate supply
6 An increase in interest rates.
A. Is likely to reduce savings
B. Is likely to reduce the external value of the currency
C. Leads to a shift in the MEC schedule
D. Leads to a movement along the MEC schedule
7 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
8 To be allocatively efficient ta firm must produce where
A. the total cost equals demand
B. the average revenue equals the marginal revenue
C. The price equals the average cost
D. The price equals the marginal cost
9 According to Keynes, the level of employment is determined by
A. Interest rates
B. The level of prices
C. The level of aggregate supply in the economy
D. The level of aggregate demand for goods and services.
10 In a free market the combination of products produced will be determined by.
A. Market forces of supply and demand
B. The government
C. The law
D. The public sector

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