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

If marginal revenue equals marginal cost

Question # 2

If there is a price celling which of the following is NOT likely to occur.

Question # 3

To prevent the external value of the currency from failing the government might

Question # 4

In a perfectly competitive labour market firms are wage takers and the marginal cost of labour equals.

Question # 5

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

Question # 6

In monopolistic competition

Question # 7

The public sector includes.

Question # 8

Human wants are

Question # 9

The hypothesis that people know the true model of the economy and that they use this model and al available information to form their expectations of the future is the

Question # 10

In order to maximize profits a monopoly company will produce that quantity at which the.

Question # 11

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

Question # 12

The law of diminishing returns assumes.

Question # 13

If the price was fixed below the equilibrium price there would be.

Question # 14

Which of the following is a characteristic of pure monopoly.

Question # 15

Demand for labour is more likely to be wage inelastic if.

Question # 16

Free trade is based on the principle of

Question # 17

Globalization is made more difficult by

Question # 18

Investment is an out stable element of aggregate demand because is depends heavily on.

Question # 19

The profit per scale is a measure of.

Question # 20

If labour productivity per week is 200 units and there are 5 employees what is the total output.

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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 first level of output at which the long run average costs are minimized is called.
A. The minimum Efficient Scale
B. The minimum External scale
C. The Maximum External scale
D. The maximum Effective scale.
2 A reduction in the money supply is likely to
A. Reduce interest rates
B. Increase the interest rate
C. Increase inflation
D. Decrease deflation
3 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.
4 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
5 To reduce the supply of money the government could.
A. Reduce interest rates
B. Buy back government bonds
C. Sell government bonds
D. Encourage banks to lend
6 Earning from primary products are often unstable because.
A. Demand is price elastic
B. Supply is price elastic
C. Supply conditions are relatively stable
D. Supply conditions are unstable
7 Friend man's theory of consumption focuses on
A. Past income
B. Current income
C. Disposable income
D. Permanent income
8 A subsidy paid to producers.
A. Shifts the supply curve
B. Shifts the demand curve
C. Leads to a contractional supply
D. Leads to an extension of supply
9 Which of the following would increase aggregate demand.
A. Increasing saving
B. Increasing import spending
C. Increasing taxation revenue
D. increased investment
10 Tariffs.
A. Decrease the domestic price of a product.
B. Increase government earnings from tax
C. Increase the quantity of imports
D. Decrease domestic production

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