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

  • Total Questions20

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PPSC Economics Topic 1 Basic Economics

00:00
Question # 1

Gross National product equals

Question # 2

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

Question # 3

According to Keynes, the level of employment is determined by

Question # 4

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

Question # 5

Supply side policies are most appropriate to cure.

Question # 6

Economics growth can be seen by an outward shift of.

Question # 7

The law of diminishing returns assumes.

Question # 8

Economic growth can be measured by

Question # 9

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

Question # 10

In perfect competation.

Question # 11

A higher GDP per capita may not mean that the quality of life has really improved because.

Question # 12

Which kind economics deals with issues such as unemployment inflation, and economic growth.

Question # 13

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

Question # 14

Price equal to.

Question # 15

Japan's low interest rates in the mid 80's were due to.

Question # 16

Which of the following rights be a scarce good.

Question # 17

Increase un employment benefits and less incentive to work would.

Question # 18

If injection are less than with drawls at the full employment level of national income there is.

Question # 19

The liquidity trap occurs when the demand for money

Question # 20

The difference between gross investment and net investment is.

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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 describes the selling of a production license to another firm.
A. Hands over all rights to its products
B. Sells its products abroad
C. Sells the right to produce to another business
D. Sells the business to another business
2 A profit maximizing firm in perfect competition produces where
A. Total revenue is maximized
B. Marginal revenue equals zero
C. Marginal revenue equals marginal cost
D. Marginal revenue equals average cost
3 Equilibrium in the market for good A obtains.
A. When there is no surplus or shortage prevailing in the market
B. Where the demand and supply curves for A intersect
C. When all of what is produced of A is consumed
D. All of the above
4 In monopolistic competition firms profit maximize where
A. Marginal revenue = average revenue
B. Marginal revenue= Marginal cost
C. Marginal revenue= Average cost
D. Marginal revenue = Total cost
5 In a perfectly competitive labour market firms are wage takers and the marginal cost of labour equals.
A. the average cost of labour
B. The marginal product
C. The marginal revenue
D. The total cost of labour
6 The price mechanism cannot.
A. Act as a signal
B. Act as an incentive
C. Act as a rationing device
D. Shift the demand curve
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 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
9 "Income inequality can be high in the free market and should be reduce ".This is an example of what.?
A. Judicial economic statement.
B. Positive economic statement
C. Formative economic statement
D. Normative economic statement
10 Over time the price of primary products tends to fall because.
A. Demand is income elastic
B. Supply is income elastic
C. Of outward shifts in supply
D. Demand is price elastic

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