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

A model of game theory of oligopoly is known as the

Question # 2

If the fprice in a market is fixed by the government below equilibrium.

Question # 3

If one car company takes over another car company this is an example of which type of integration.

Question # 4

If marginal revenue equals marginal cost

Question # 5

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

Question # 6

If the exchange rate is above the equilibrium level.

Question # 7

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

Question # 8

To be allocatively efficient ta firm must produce where

Question # 9

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

Question # 10

In a free market the combination of products produced will be determined by.

Question # 11

Any combination of products inside the production possibility frontier is

Question # 12

If a maximum price is set below equilibrium there will be.

Question # 13

If input price adjusted very slowly to output prices, the Phillip's curve would be.

Question # 14

Globalization is likely to increase with

Question # 15

Less demand in the economy may increase unemployment this may lead to less spending which may reduce demand further This is called.

Question # 16

A contraction in supply occurs when

Question # 17

Demand pull inflation may be caused by

Question # 18

Profit making is basic motive in.

Question # 19

Which of the following is not likely to be a government objective.

Question # 20

What is the effect of imposing a fixed per unit tax on a good on its equilibrium price and quantity.

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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 monopoly which of the following is true.
A. There are many buyers and sellers
B. There is one main buyers
C. There is one main seller
D. The actions of one firm do not affect the market price and quantity.
2 In the short term a firm will produce provided the revenue
A. Covers fixed costs
B. Covers variable costs
C. Covers total costs
D. Covers revenue
3 Economists use the term marginal utility to mean.
A. Additional satisfaction gained divided by additional cost of the last unit.
B. Additional satisfaction gained by the consumption of one more unit of a good
C. Total satisfaction gained when consuming a given number of units.
D. The process of comparing marginal units of all goods which could be purchased
4 An increase in demand for a product should.
A. Increase equilibrium price and quantity.
B. Decrease equilibrium price and quantity.
C. Increase equilibrium price and decrease quantity.
D. Decrease equilibrium price and increase quantity.
5 Which of the following is not a way of helping developing economics.
A. Aid
B. Loans
C. Protectionism of developed markets
D. Training and education programmes
6 A mixed economy
A. Has supply but not demand
B. Has demand but not supply
C. Has supply and demant
D. Has market forces and government intervention
7 Which of the following is an injection into the economy.
A. Investment
B. Saving
C. Taxation
D. Import spending
8 To be allocatively efficient ta firm must produce where
A. the total cost equals demand
B. the average revenue equals the marginal revenue
C. The price equals the average cost
D. The price equals the marginal cost
9 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
10 The socially optimal rate of growth is
A. Zero
B. Negative
C. Where the marginal social benefit the marginal social cost
D. total social costs are minimized

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