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 multinational busniess

Question # 2

Which of the following is not a macro economic issue.

Question # 3

A shift in supply will have a bigger effect on price than output if demand is.

Question # 4

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

Question # 5

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

Question # 6

According to the quantity theory of money an increase in the money supply is most likely to lead ot inflation if

Question # 7

Globalization is likely to increase with

Question # 8

In perfect competation.

Question # 9

A model of game theory of oligopoly is known as the

Question # 10

An increase in the costs of production will

Question # 11

Which of the following can the government not use directly to control the economy.

Question # 12

Which of the following would increase aggregate demand.

Question # 13

The fundamental economic problem faced by all societies is.

Question # 14

A cut in the income tax rate designed to encourage household consumption is an example of.

Question # 15

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

Question # 16

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 # 17

Total revenue equals

Question # 18

Inflation.

Question # 19

Which does the government not control directly.

Question # 20

If marginal cost is positive and falling.

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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 There are three fundamental questions every society must answer Which of the following is one of these questions.
A. What goods and services are to be produced.
B. How are the good and services to be produced.
C. Who will get the goods and services what are produced.
D. All of the above
3 In economics, the term 'scarcity' refers to the fact that
A. Everything worthwhile costs money
B. No society is able to produce enough to fully satisfy the desires of people for goods.
C. Even in wealthy societies, like the united states, some people are poor
D. sometimes shortages of product result if its price is set too low.
4 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
5 In monopolistic competition firms profit maximize where
A. Marginal revenue = average revenue
B. Marginal revenue= Marginal cost
C. Marginal revenue= Average cost
D. Marginal revenue = Total cost
6 If there is a price celling which of the following is NOT likely to occur.
A. Rationing by first come first served
B. Black markets
C. Gray markets
D. Sellers providing goods for free that were formerly not free
7 Ordinal measurement approach was not presented by
A. Allen
B. Hicks
C. Edge worth
D. Robbins
8 If the exchange rate is above the equilibrium level.
A. There is excess demand and teh exchange rate will fall
B. There is excess supply and the exchange rate will fall
C. There is excess demand and the exchange rate will rise
D. There is excess supply and the exchange rate will rise
9 Which of the following is the government most likely to subsidies.
A. Negative externalities
B. Positive externalities
C. Monopolies
D. O ligopojies
10 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

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