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 not a global organization?

Question # 2

Laboratory experiments cannot be performed in economics because.

Question # 3

"Income inequality can be high in the free market and should be reduce ".This is an example of what.?

Question # 4

In a recession

Question # 5

Developing economics usually have

Question # 6

As income increases.

Question # 7

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

Question # 8

The length of a business cycle would be measured from

Question # 9

Which of the following is not involved with fiscal policy.

Question # 10

Companies in the private sector are owned by

Question # 11

A public good will

Question # 12

If marginal product is below average product.

Question # 13

Can economic theories be tested.

Question # 14

Any combination of products inside the production possibility frontier is

Question # 15

Investment depend mainly on.

Question # 16

Which of the following best defines price discrimination.

Question # 17

Inflation.

Question # 18

The free market involves

Question # 19

A demand switching policy could be.

Question # 20

A reduction in the money supply is likely to

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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 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
2 In order to maximize profits a monopoly company will produce that quantity at which the.
A. Marginal revenue equals average total cost
B. Price equals marginal revenue
C. Marginal revenue equals marginal cost
D. total revenue equals total cost
3 In a recession, GDP.
A. Grows negatively
B. Grows by 0%
C. Grows slowly
D. Grows rapidly
4 In pure monopoly what is the relation between the price and teh marginal revenue.
A. The price is greater than the marginal revenue
B. The price is les than the marginal revenue
C. There is no relation
D. They are equal
5 In monopolistic competition
A. Demand is perfectly elastic
B. Products are homogeneous
C. Marginal revenue = pirce
D. The marginal revenue is below the demand curve and diverges
6 An increase in the costs of production will
A. Shift demand out wards
B. Shift demand in wards
C. Shift supply out wards so more is supplied at each and every price all other things unchanged.
D. Shift supply inwards
7 If one car company takes over another car company this is an example of which type of integration.
A. Vertical
B. Horizontal
C. Conglomerate
D. Literal
8 The marginal Revenue product is.
A. Upward sloping due to the law of demand
B. Upward sloping due to the law of marginal utility
C. Downward sloping due to the law of diminishing returns.
D. Downward sloping due to the law of supply
9 The accelerator theory of investment says that induced investments determined by.
A. The rate of change of national income
B. Expectations
C. The level of national income
D. The level of aggregate demand
10 The demand for a product would be more inelastic.
A. The greater is the time under consideration
B. The greater is the number of substitutes available to buyers
C. The less expensive is the product in relation to incomes
D. all of the above.

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