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

Rapid increases in the price level during periods of recession or high unemployment are known as.

Question # 2

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 # 3

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

Question # 4

In monopolistic competition firms profit maximize where

Question # 5

What does ceteris paribus mean.

Question # 6

The marginal propensity to consume in a less Developed Country is likely to be.

Question # 7

An increase in the price of a complement or produce.A would.

Question # 8

Unfair competition does not include

Question # 9

A cut in the tax rate designed to reduce the business investment is an example of.

Question # 10

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

Question # 11

If marginal revenue equals marginal cost

Question # 12

An increase in aggregate demand will have most effect on prices if.

Question # 13

If the price is less than the average cost but higher than the average variable costs.

Question # 14

In the short term a firm will produce provided the revenue

Question # 15

The public sector includes.

Question # 16

In a recession a government.

Question # 17

The sacrifice involved when you choose a particular course of action is called the

Question # 18

The natural rate of unemployment is likely to tall if

Question # 19

In a free market the combination of products produced will be determined by.

Question # 20

If input price adjusted very slowly to output prices, the Phillip's curve would be.

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Economics
1st Chapter

PPSC Economics Chapter 1 Test

Here you can prepare PPSC Economics Chapter 1 (Basic Economics) Test. Click the button for 100% free full practice test.

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PPSC Economics Chapter 1 Important MCQ's

Sr.# Question Answer
1 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
2 The marginal Revenue product is.
A. Upward sloping due to the law of demand
B. Upward sloping due to the law of marginal utility
C. Downward sloping due to the law of diminishing returns.
D. Downward sloping due to the law of supply
3 Japan's low interest rates in the mid 80's were due to.
A. High rates of domestic savings.
B. A decrease in Japan's exports
C. Increases in the U.S. deficit
D. High rates of domestic spending in Japan
4 Economics given can be shown by
A. An inward shift of the production possibility frontier
B. A movement down the production possibility frontier
C. An outward shift of the production possibility frontier
D. A movement up the production possibility frontier
5 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
6 Price equal to.
A. Total revenue -quantity
B. Total revenue/quantity sold
C. total quantity sold * quantity sold
D. Total revenue/total cost
7 If there is cyclical unemployment in the economy the government might.
A. Increase interest rates
B. Encourage savings
C. Cut taxes
D. Reduce government spending
8 The agricultural price support program is an example of.
A. A price celling
B. A price floor
C. Equilibrium pricing
D. None of these
9 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
10 The bowed shape of the production possibilities curve illustrtres.
A. The law of increasing marginal cost
B. the production in inefficient
C. That production is inattainable
D. The demand is relatively inelastic

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