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

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

Question # 2

Which of the following rights be a scarce good.

Question # 3

The marginal propensity to consume is equal to.

Question # 4

A recurring theme in economics is.

Question # 5

Finding a partner to work with abroad is called a.

Question # 6

Menu costs in relation to inflation refer to

Question # 7

Profit making is basic motive in.

Question # 8

In perfect competation.

Question # 9

Nationalization occurs when

Question # 10

Which of the following is a normative statement in economics.

Question # 11

If a few firms dominate an industry the market is known as.

Question # 12

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

Question # 13

An injection of funds into a less developed country might set off the

Question # 14

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

Question # 15

Which of the following is an injection into the economy.

Question # 16

What does the phrases "there is no such thing as a free lunch'mean"

Question # 17

If the marginal revenue is less than the marginal cost then to profit maximize a firm should.

Question # 18

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.

Question # 19

Which of the following is the government most likely to subsidies.

Question # 20

If marginal revenue equals marginal cost

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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 Aggregate demand refers to the total demand for all domestically produced goods and services in an economy generated from.
A. The household and government sectors
B. The household sector
C. All sectors except the rest of the world
D. All sectors including the rest of the world.
2 If the price was fixed below the equilibrium price there would be.
A. Excess supply
B. Excess demand
C. Equilibrium
D. Down ward pressure on prices
3 Which of the following best defines price discrimination.
A. Charging different prices on the basis of race
B. Charging different prices for goods with different costs of production
C. Charging different prices based on cost of service differences.
D. Selling a certain product of given quality and cost per unit at different prices to different buyers
4 Normal profit occurs when
A. Average revenue equals average variable cost
B. Marginal revenue equals marginal cost
C. Average revenue equals marginal cost
D. Average revenue equals average cost
5 If the economy grows the government's budget position will automatically
A. Worsen
B. Improve
C. Stay the same
D. Increase with inflaction
6 A benefit to consumers of price discrimination is that
A. Some products are produced that would not other wise be produced
B. Producer surplus increases
C. Consumer surplus decreases
D. Firms profits increase
7 Inflation.
A. Reduces the cost of living
B. Reduces the standard of living
C. Reduce the price of products
D. Reduces the purchasing power of a price
8 When an economy first begins to frow more slowly.
A. GDP increase
B. Inflation is likely to increase
C. Stock levels are likely to increse
D. Investment in equipment is likely to increase
9 The law of diminishing returns states that as more of a variable factor is added to a certain amount of a fixed factor beyond some point.
A. Total Physical product begins to fall
B. The marginal physical product rises
C. The marginal physical product falls
D. The average physical product falls.
10 A public good
A. Is provided by the government
B. Is free
C. Has the properties of being non excludable and non diminishable
D. Has external costs

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