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

To maximize sales revenue a firm should produce where

Question # 2

The difference between gross investment and net investment is.

Question # 3

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

Question # 4

An increase in aggregate demand is more likely to lead to demand pull inflation if.

Question # 5

A mixed economy

Question # 6

Increased levels of spending on imports

Question # 7

Which of the following is a characteristic of pure monopoly.

Question # 8

In monopolistic competition

Question # 9

Supply side policies are most appropriate to cure.

Question # 10

A reduction in the costs of production will

Question # 11

When marginal revenue equals marginal cost

Question # 12

A study of how increase in the minimum wage rate will effect the national unemployment rate is an example of.

Question # 13

Inflation.

Question # 14

The precautionary demand for money is

Question # 15

In a Boom

Question # 16

A multinational busniess

Question # 17

An increase in aggregate demand if aggregate supply is totally inelastic will.

Question # 18

Ordinal measurement approach was not presented by

Question # 19

Gross National product equals

Question # 20

Nationalization occurs when

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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 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
2 If the price in a market is fixed by the government above equilibrium.
A. There is excess equilibrium
B. There is excess supply
C. There is excess demand
D. There is equilibrium
3 In cartels.
A. Firms complete against each other
B. Price wars are common
C. Firms use price to win market share from competitors
D. Firms collude
4 If the price elasticity of demand for a product in market A is -0.2 and in market B is -3 a price discriminator will charge.
A. The higher price in market A
B. The higher price in market B
C. The same price in both markets
D. There are many sellers
5 In order to maximize profits a monopoly company will produce that quantity at which the.
A. Marginal revenue equals average total cost
B. Price equals marginal revenue
C. Marginal revenue equals marginal cost
D. total revenue equals total cost
6 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
7 An increase in national income is.
A. Likely to increase exports
B. Likely to decrease savings
C. Likely to decrease investment
D. Likely to increase spending on imports
8 Increase un employment benefits and less incentive to work would.
A. Shift aggregate supply to the right
B. Shift aggregate supply to the left
C. Shift aggregate demand to the right
D. Shift aggregate demand to the left
9 When marginal revenue equals marginal cost
A. Total revenue equal total cost
B. There is the biggest positive difference between total revenue and total cost
C. there is the biggest negative difference between total revenue and total cost.
D. Profits are zero
10 In perfect competition.
A. the products firm offer are very similar
B. Products are heavily differentiated
C. A few firms dominate the market
D. Consumers have limited information

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