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 a policy instrument .as opposed to a government objective.

Question # 2

According to the quantity theory of money an increase in the money supply is most likely to lead ot inflation if

Question # 3

Increased levels of spending on imports

Question # 4

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 # 5

In perfect price discrimination

Question # 6

In economics, the term 'scarcity' refers to the fact that

Question # 7

Companies in the private sector are owned by

Question # 8

The Philips curve shows the relationship between inflation and what?

Question # 9

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

Question # 10

Which of the following is not a global organization?

Question # 11

Laboratory experiments cannot be performed in economics because.

Question # 12

To maximize sales revenue a firm should produce where

Question # 13

Firm in oligopoly are likely to.

Question # 14

The liquidity trap occurs when the demand for money

Question # 15

The marginal Revenue product is.

Question # 16

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

Question # 17

Globalization is likely to increase with

Question # 18

If the price in a market is fixed by the government above equilibrium.

Question # 19

The resources in the economy do not include.

Question # 20

To reduce the supply of money the government could.

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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 natural rate of unemployment is likely to tall if
A. Unemployment benefits increase
B. Income tax increases
C. More training is available for the unemployed
D. Geographical immobility increases
2 For equilibrium in an open four sector economy
A. Actual injections = actual withdrawals
B. Planned injections = Planned withdrawals
C. Savings = investment
D. Government spending = tax revenue
3 An injection of funds into a less developed country might set off the
A. Multiplier
B. Marginal propensity to save
C. Average propensity to consume
D. The Laffer effect
4 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
5 Lower interest rates are likely to.
A. Decrease consumption
B. Increase cost of borrowing
C. Encourage saving
D. Increase spending
6 Improved training of employees 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
7 In perfect competation.
A. The price equals the marginal revenue
B. The price equals the average variable cost
C. The fixed cost equals the variable costs
D. The price equals the total costs
8 What lies is at the heart of the allocation of goods and services in a free market economy.
A. Concerns of equity or equal distribution among individuals.
B. The order or command of the ruling government or dictator
C. The wishes of consumers in the market
D. The price mechanism
9 An increase in aggregate demand is more likely to lead to demand pull inflation if.
A. Aggregate supply is perfectly elastic
B. Aggregate supply is perfectly inelastic
C. Aggregate supply is unit elastic
D. Aggregate supply is relatively elastic
10 Aggregate demand refers to the total demand for all domestically produced goods and services in an economy generated from.
A. The household and government sectors
B. The household sector
C. All sectors except the rest of the world
D. All sectors including the rest of the world.

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