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

The standard of living is often measured by

Question # 2

The accelerator assumes.

Question # 3

To anticipate what the economy is going to do next the government will look at.

Question # 4

Which of the following would increase aggregate demand.

Question # 5

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

Question # 6

Economists use the term marginal utility to mean.

Question # 7

Which of the following is not an argument for protectionism.

Question # 8

If there is cyclical unemployment in the economy the government might.

Question # 9

Which of the following is not an obvious or direct determinant of a country's imports.

Question # 10

Which of the following is true.

Question # 11

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

Question # 12

In cartels.

Question # 13

To adjust GDP from market prices to factor cost.

Question # 14

What does ceteris paribus mean.

Question # 15

In the long run in perfect competition

Question # 16

In the short run firm in perfect competition will still produce provided.

Question # 17

A reflationary policy

Question # 18

If marginal utility is zero.

Question # 19

The difference between gross investment and net investment is.

Question # 20

To reduce cyclical unemployment the government might.

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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 marginal revenue curve in monopoly
A. Equals the demand curve
B. Is a parallel with the demand curve
C. Lies below and converges with the demand curve
D. Lies below and diverges from the demeaned curve
2 In monopoly in long run equilibrium.
A. The firm is productively effieient
B. The firm is allocatively inefficient
C. The firm produces where marginal cost is less than marginal revenue
D. The firm produces at the sociality optimal level
3 Economists use the term utility to mean
A. The value of a product before it has been advertised
B. The satisfaction a consumer obtains from a good or service
C. any characteristic of a good or service which cannot be measured
D. The contribution a good or service makes to social welfare
4 The public sector includes.
A. Investors owning companies
B. Government ownership of assets
C. Market forces of supply and demand
D. All trade via barter
5 To adjust GDP from market prices to factor cost.
A. Add indirect taxes
B. Subtract subsidies
C. Deduct indirect taxes and subsides
D. Deduct indirect taxes and add subsides
6 If labour productivity per week is 200 units and there are 5 employees what is the total output.
A. 40 units
B. 195 units
C. 1000 units
D. 200 units
7 If product an inferior good.
A. Demand is inversely related to income
B. Demand is inversely related to price
C. Demand is directly related to price
D. Demand is inversely related to the price of substitutes
8 An increase in the price of a complement or produce.A would.
A. Shift demand for product a out wants
B. Shift demand for product A inwards
C. shift supply for product A out wards
D. Shift supply for product A inwards
9 The index used most often to measure inflation is the
A. Consumer price index
B. Wholesale price index
C. Student price index
D. Producer price index
10 An increase in aggregate demand will have most effect on prices if.
A. Aggregate supply is price inelastic
B. Aggregate supply is price elastic
C. Aggregate supply has a unitary price elasticity
D. Aggregate demand is price inelastic

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