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

Which of the following is not a way of helping developing economics.

Question # 2

Revealed preference theory was presented by.

Question # 3

Which of the following is not an argument for protectionism.

Question # 4

Increased levels of spending on imports

Question # 5

The fundamental economic problem faced by all societies is.

Question # 6

Assuming a downward sloping demand curve and upward sloping supply curve a higher equilibrium price may be caused by.

Question # 7

Which of the following is necessary for a natural monopoly.

Question # 8

Which of the following is not a macro economic issue.

Question # 9

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

Question # 10

According to schumpater

Question # 11

The resources in an economy are

Question # 12

Which of the following would decrease aggregate demand.

Question # 13

Firm in oligopoly are likely to.

Question # 14

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

Question # 15

Price equal to.

Question # 16

In a market system sellers act in ___ interest, but this leads to behaviors in ___ interest.

Question # 17

"Income inequality can be high in the free market and should be reduce ".This is an example of what.?

Question # 18

The effects of inflation on the price competitiveness of a country's products may be offset by

Question # 19

Less demand in the economy may increase unemployment this may lead to less spending which may reduce demand further This is called.

Question # 20

A deflationary policy could include

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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 Labour productivity measures.
A. The output per worker
B. The output per machine
C. Total output
D. Marginal output
2 A subsidy paid to producers.
A. Shifts the supply curve
B. Shifts the demand curve
C. Leads to a contractional supply
D. Leads to an extension of supply
3 To anticipate what the economy is going to do next the government will look at.
A. Lagging indicators
B. Flashing indicators
C. Coincidental iindicators
D. Leading indicators
4 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
5 If there is a price floor there will be.
A. Shortages
B. Surpluses
C. Equilibrium
D. All of these
6 Which of the following is not an argument for protectionism.
A. To protect infant industries
B. To increase the level of imports
C. To protect strategic industries
D. To improve the balance of payments
7 Which of the following would decrease aggregate demand.
A. Increased consumption
B. Increasing export revenue
C. Increased taxation revenue
D. Increased investment
8 Globalization is likely to increase with
A. More protectionism
B. An increase in tariffs
C. More trade within countries
D. Greater trade flows between countries
9 For perfectly competitive firm
A. Price equals marginal revenue
B. Price is greater than marginal revenus
C. Price equal total revenue
D. Price equals total cost
10 Japan's low interest rates in the mid 80's were due to.
A. High rates of domestic savings.
B. A decrease in Japan's exports
C. Increases in the U.S. deficit
D. High rates of domestic spending in Japan

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