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

If demand increase in a market this will usually lead to.

Question # 2

Which of the following would decrease aggregate demand.

Question # 3

Nationalization occurs when

Question # 4

The marginal revenue curve in monopoly

Question # 5

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

Question # 6

A multinational busniess

Question # 7

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

Question # 8

In a perfectly competitive labour market firms are wage takers and the marginal cost of labour equals.

Question # 9

The hypothesis that people know the true model of the economy and that they use this model and al available information to form their expectations of the future is the

Question # 10

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 # 11

A cut in the tax rate designed to reduce the business investment is an example of.

Question # 12

If economics when we say that people are rational, we mean that they.

Question # 13

A deflationary policy could include

Question # 14

If the economy grows the government's budget position will automatically

Question # 15

Equilibrium in the market for good A obtains.

Question # 16

Scarcity means that

Question # 17

In marketing "USP " Stand for

Question # 18

Which of the following is a characteristic of pure monopoly.

Question # 19

Compared to the case of perfect competition, a monopolist is more likely to

Question # 20

If the price was fixed below the equilibrium price there would be.

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Economics
1st Chapter

PPSC Economics Chapter 1 Test

Here you can prepare PPSC Economics Chapter 1 (Basic Economics) Test. Click the button for 100% free full practice test.

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PPSC Economics Chapter 1 Important MCQ's

Sr.# Question Answer
1 The public sector includes.
A. Investors owning companies
B. Government ownership of assets
C. Market forces of supply and demand
D. All trade via barter
2 The goal of a pure market economy is to best meet the desires of.
A. Consumers
B. Companies
C. Workers
D. The government
3 Barriers to entry do not include
A. Patents
B. Internal economics of scale
C. Mobility of resources
D. High investment costs
4 Which of the following is the government most likely to subsidies.
A. Negative externalities
B. Positive externalities
C. Monopolies
D. O ligopojies
5 In the long run in perfect competition
A. Price = average= cost = marginal cost
B. Price = average cost = total cost
C. The price covers fixed cost
D. total revenue = total variable cost
6 The average variable cost curve.
A. Is derived from the average fixed costs
B. Converges with the average cost as output increases
C. Equals revenue minum profits
D. Equal the total costs divided by the output
7 If the "Regulated -market" price is below the equilibrium price.
A. The quantity demanded will be greater than quantity supplied
B. Demand will be les than supply
C. Quantity demanded will be less than quantity supplied
D. Quantity demanded will equal quantity supplied
8 A reduction in the money supply is likely to
A. Reduce interest rates
B. Increase the interest rate
C. Increase inflation
D. Decrease deflation
9 Companies in the private sector are owned by
A. The government
B. Shareholders
C. Employees
D. The community
10 A deflationary policy could include
A. Increasing injections
B. Reducing taxation rates
C. Reducing interest rates
D. Reducing government spending

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