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

An increase income will

Question # 2

The socially optimal rate of growth is

Question # 3

Human wants are

Question # 4

A subsidy paid to producers.

Question # 5

Which of the following is a possible government objective as opposed to a policy.

Question # 6

Investment is an out stable element of aggregate demand because is depends heavily on.

Question # 7

Sales taxes are generally considered to be.

Question # 8

If a maximum price is set below equilibrium there will be.

Question # 9

The public sector includes.

Question # 10

The fundamental economic problem faced by all societies is.

Question # 11

If the "Regulated -market" price is below the equilibrium price.

Question # 12

Finding a partner to work with abroad is called a.

Question # 13

A government might use tax to.

Question # 14

The difference between gross investment and net investment is.

Question # 15

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

Question # 16

If people are made unemployed because of a fall in aggregate demand this is known as.

Question # 17

Supply is likely to be more price elastic.

Question # 18

Why might a country resist globalization.

Question # 19

Barriers to entry do not include

Question # 20

A study of how increase in the minimum wage rate will effect the national unemployment rate is an example of.

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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 Economists use the term utility to mean
A. The value of a product before it has been advertised
B. The satisfaction a consumer obtains from a good or service
C. any characteristic of a good or service which cannot be measured
D. The contribution a good or service makes to social welfare
2 If an economy is productively efficient.
A. Everyone is wealthy
B. Resources are unemployed
C. More of one product can only be produced if less of another product is produced.
D. The distribution of income is equal
3 If the marginal revenue is positive
A. Selling another unit will increase total revenue
B. Selling another unit will increase profits
C. Selling another unit will increase cost
D. Selling another unit will increase average revenue
4 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
5 The bowed shape of the production possibilities curve illustrtres.
A. The law of increasing marginal cost
B. the production in inefficient
C. That production is inattainable
D. The demand is relatively inelastic
6 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.
7 Which of the following is not a way of helping developing economics.
A. Aid
B. Loans
C. Protectionism of developed markets
D. Training and education programmes
8 Increase un employment benefits and less incentive to work would.
A. Shift aggregate supply to the right
B. Shift aggregate supply to the left
C. Shift aggregate demand to the right
D. Shift aggregate demand to the left
9 According to the quantity theory of money an increase in the money supply is most likely to lead ot inflation if
A. The velocity of circulation decreases
B. The number of transactions decreases
C. There is deflation
D. The velocity of circulation and the number of transactions is constant
10 An increase in aggregate demand if aggregate supply is totally inelastic will.
A. Increase price but not output
B. Increase output but not price
C. Increase out put and price
D. Decrease output and price

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