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

An increase in the marginal propensity to consume will

Question # 2

A public good will

Question # 3

In monopoly which of the following is true.

Question # 4

For perfectly competitive firm

Question # 5

Open market operations occur when the government.

Question # 6

Why might a country resist globalization.

Question # 7

A reduction in the money supply is likely to

Question # 8

Which of the following is not one of the four Ps in marketing.

Question # 9

If the exchange rate is above the equilibrium level.

Question # 10

A mixed economy

Question # 11

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

Question # 12

A reflationary policy

Question # 13

Economic theory assumes that people

Question # 14

There are three fundamental questions every society must answer Which of the following is one of these questions.

Question # 15

A welfare less occurs in monopoly where

Question # 16

As the MPS increases, the multiplier will

Question # 17

Earning from primary products are often unstable because.

Question # 18

Aggregate demand refers to the total demand for all domestically produced goods and services in an economy generated from.

Question # 19

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

Question # 20

Economists use the term marginal utility to mean.

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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 The length of a business cycle would be measured from
A. Peak t trough
B. Trough to peak
C. Peak to Peak
D. The slump to the expansion
2 Demand for primary products is likely to be
A. Very sensitive to price
B. Price elastic
C. Unit elastic
D. Income inelastic
3 Say's law states that
A. Supply creates its own demand
B. Demand creates its own supply
C. There is no such things as a free lunch
D. Macro economics policy activism is essential to ensure full employment.
4 Government policies that focus on increasing production rather than demand are called.
A. Fiscal policies
B. Monetary policies
C. Incomes policies
D. Supply side policies
5 What does the phrases "there is no such thing as a free lunch'mean"
A. Individuals must always pay money for the food the eat.
B. No restaurant wner will provide food to patrons unless they pay her
C. Restaurant owners act selfishly
D. Consumption of any good requires that other goods be given up
6 A significant increase in the government budget deficit is likely to.
A. Reduce injections into the economy
B. Reduce national income
C. Move the economy away from full employment
D. Boost aggregate demand
7 Economics is the study of.
A. All business, including how they operate why the exist and how they afect
B. Decisions that people must make because goods and services are limited.
C. How to save money, spend money invest savings, and balance a checkbook
D. The stock market the bond market and investment strategies
8 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.
A. Ceteris paribus
B. Marginal decision making
C. Incentives
D. Secondary effects
9 The best describes consumer surplus.
A. The price consumers are willing to pay for a unit
B. The cost of providing a unit.
C. The profits made by a firm
D. The difference the price a consumer pays for an item and the price he is willing to pay.
10 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

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