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

00:00
Question # 1

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

Question # 2

In monopoly when abnormal profits are made.

Question # 3

An increase in price all other things unchanged leads to.

Question # 4

The goal of a pure market economy is to best meet the desires of.

Question # 5

Which of the following would decrease aggregate demand.

Question # 6

In a command economy

Question # 7

The marginal propensity to consume in a less Developed Country is likely to be.

Question # 8

Globalization is made more difficult by

Question # 9

A public good

Question # 10

When marginal revenue equals marginal cost

Question # 11

An increase in interest rates.

Question # 12

Game theory

Question # 13

Which of the following is not a global organization?

Question # 14

In monopolistic competition firms profit maximize where

Question # 15

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

Question # 16

Tariffs.

Question # 17

If an increase in investment leads to a bigger increase in national income this is called the.

Question # 18

Firms in perfect competition face a

Question # 19

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

Question # 20

Capital, as economists use the term.

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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 In economics, the term 'scarcity' refers to the fact that
A. Everything worthwhile costs money
B. No society is able to produce enough to fully satisfy the desires of people for goods.
C. Even in wealthy societies, like the united states, some people are poor
D. sometimes shortages of product result if its price is set too low.
2 A scarce good.
A. Does not exist
B. Is a good that can only be purchased with money
C. Is a good that can never be purchased with money
D. Is a good that is available in limited quantities, but is desired in greater quantities.
3 Profit making is basic motive in.
A. Socialism
B. Mixed economy
C. Communism
D. Capitalism
4 A depreciation of currency occur when
A. The value of the currency falls
B. The value of the currency increases
C. Inflation falls
D. The balance of payments improves
5 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
6 Scarcity means that
A. We cannot have everything that we might want
B. We have to make choices between the things we desire.
C. There are costs to just about any activity we undertake
D. We must give up some thing in order to obtain other things.
7 In a market system sellers act in ___ interest, but this leads to behaviors in ___ interest.
A. Self : self
B. Self ; society's
C. Society's ; society's
D. society's, self
8 If inflationary expectations increase, the short run Phillip's curve will
A. Become vertical
B. Become up warding sloping
C. Shift to the right
D. Shift to the left
9 Which of the following is not a supply side measure.
A. Increased training
B. Providing more information
C. Helping individuals to move location to find work
D. Increasing spending on existing industries.
10 In monopoly when abnormal profits are made.
A. The prize set is greater than the marginal cost
B. The price is less than the average cost
C. The average revenue equals the marginal cost
D. Revenue wquals total cost

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