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

If marginal revenue equals marginal cost

Question # 2

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

Question # 3

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

Question # 4

For perfectly competitive firm

Question # 5

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

Question # 6

The fundamental economic problem faced by all societies is.

Question # 7

An independent assessment of the impact of firm's activities on society is called a.

Question # 8

A public good

Question # 9

Economists use the term utility to mean

Question # 10

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

Question # 11

The resources in the economy do not include.

Question # 12

The accelerator theory of investment says that induced investments determined by.

Question # 13

Economists use the term marginal utility to mean.

Question # 14

The marginal Revenue product is.

Question # 15

A public good will

Question # 16

Which of the following is not one of the basic economic questions.

Question # 17

Economics given can be shown by

Question # 18

If the marginal revenue is positive

Question # 19

A reflationary policy

Question # 20

In a command economy

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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 Assuming a downward sloping demand curve and upward sloping supply curve a higher equilibrium price may be caused by.
A. An fall in demand
B. An increase in supply
C. Improvements in production technology
D. An increase in demand
2 Sales taxes are generally considered to be.
A. Proportional taxes
B. Regressive taxes
C. Progressive taxes
D. Indirect taxes
3 Why does it make sense in assume that people are rational, if you want to predict their behavior.
A. People are not guided by emotions when making decisions
B. People wheo act in the way that best gets them what they want will tend to repeat that behavior, and will tend to learn from mistakes that they do make
C. People never make mistakes, and tend to make the correct choices all of the time
D. People always logically figure out what to do.
4 In a recession
A. Unemployment is likely to be low
B. prices are likely to increase
C. Growth is negative
D. Growth is slow
5 With a positive externality
A. There is under consumption in the free market
B. There is over consumption in the free market
C. The government may tax to decrease production
D. Society could be made off if less was produced
6 Which of the following is not one of the basic economic questions.
A. What is produce
B. Who to produce for
C. How to produce
D. How to maximize economic growth
7 When marginal revenue equals marginal cost
A. Total revenue equal total cost
B. There is the biggest positive difference between total revenue and total cost
C. there is the biggest negative difference between total revenue and total cost.
D. Profits are zero
8 In land intensive method which mean production is used comparativelymore
A. Labour
B. Land
C. Capital
D. Organization
9 An independent assessment of the impact of firm's activities on society is called a.
A. Financial audit
B. Balance sheet
C. Profit and uses account
D. Social audit
10 A reduction in the money supply is likely to
A. Reduce interest rates
B. Increase the interest rate
C. Increase inflation
D. Decrease deflation

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