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

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PPSC Economics Topic 1 Basic Economics

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Question # 1

Globalization is likely to increase with

Question # 2

The law of diminishing returns states that as more of a variable factor is added to a certain amount of a fixed factor beyond some point.

Question # 3

If there is cyclical unemployment in the economy the government might.

Question # 4

"Reducing inflation is a more important objective than economic growth" is an example of.

Question # 5

In the long run in perfect competition

Question # 6

Which of the following rights be a scarce good.

Question # 7

An increase in aggregate demand if aggregate supply is totally inelastic will.

Question # 8

An increase in productivity should.

Question # 9

If inflationary expectations increase, the short run Phillip's curve will

Question # 10

Which of the following best describes the selling of a production license to another firm.

Question # 11

Nationalization occurs when

Question # 12

Horizontal integration may lead to internal economics of scale. Which of the following is not a type of internal economy of scale.

Question # 13

If one car company takes over another car company this is an example of which type of integration.

Question # 14

Earning from primary products are often unstable because.

Question # 15

A model of game theory of oligopoly is known as the

Question # 16

In a recession a government.

Question # 17

Economics is the study of.

Question # 18

Developing economies usually

Question # 19

If employees cannot accept a job because of the costs of moving this is known as.

Question # 20

To maximize sales revenue a firm should produce where

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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 Which of the following best defines price discrimination.
A. Charging different prices on the basis of race
B. Charging different prices for goods with different costs of production
C. Charging different prices based on cost of service differences.
D. Selling a certain product of given quality and cost per unit at different prices to different buyers
2 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.
A. Ceteris paribus
B. Marginal decision making
C. Incentives
D. Secondary effects
3 Economics growth can be seen by an outward shift of.
A. The production possibility frontier
B. The gross domestic barrier
C. The marginal consumption frontier
D. The Minimum Efficient scale
4 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
5 Companies in the private sector are owned by
A. The government
B. Shareholders
C. Employees
D. The community
6 The marginal rate of tax paid is.
A. The total tax paid /total income
B. Total income/total tax paid
C. Change in the tax paid/change in income
D. Change in income/change in tax paid
7 A cut in the income tax rate designed to encourage household consumption is an example of.
A. Expansionary demand side policy
B. Contractionary demand side policy
C. Expansionary supply side policy
D. Contractionary supply side policy
8 The effects of inflation on the price competitiveness of a country's products may be offset by
A. An appreciation of the currency
B. A revaluation of the currency
C. A depreciation of the currency
D. Lower inflation abroad
9 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
10 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

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