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

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

Question # 2

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

Question # 3

If demand increase in a market this will usually lead to.

Question # 4

Game theory

Question # 5

The effects of inflation on the price competitiveness of a country's products may be offset by

Question # 6

The law of diminishing returns assumes.

Question # 7

In a Boom

Question # 8

An outward shift in the marginal efficacy of capital should.

Question # 9

Laboratory experiments cannot be performed in economics because.

Question # 10

Which of the following is not a supply side measure.

Question # 11

Which of the following is true.

Question # 12

In a recession, GDP.

Question # 13

The profit per scale is a measure of.

Question # 14

Which of the following best describes the selling of a production license to another firm.

Question # 15

The economists who emphasized wage flexibility as a solution for unemployment were.

Question # 16

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 # 17

What makes economics scientific.

Question # 18

Sales taxes are generally considered to be.

Question # 19

Investment depend mainly on.

Question # 20

Which of the following is not one of the basic economic questions.

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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 Which of the following is true.
A. If the marginal cost is greater than the average cost the average cost fallls.
B. If the marginal cost is greater than the average cost the average cost increases.
C. If the marginal cost is positive total costs are maximized
D. If the marginal cost is negatives total costs increase at a decreasing rate if output increases
2 An increase in aggregate demand if aggregate supply is totally inelastic will.
A. Increase price but not output
B. Increase output but not price
C. Increase out put and price
D. Decrease output and price
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 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.
A. Ceteris paribus
B. Marginal decision making
C. Incentives
D. Secondary effects
5 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
6 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
7 Firm in oligopoly are likely to.
A. Invest heavily in branding
B. Act independently of other firms
C. Try to differentiate its products
D. Try to be a price maker
8 In monopoly when abnormal profits are made.
A. The prize set is greater than the marginal cost
B. The price is less than the average cost
C. The average revenue equals the marginal cost
D. Revenue wquals total cost
9 Economics growth can be seen by an outward shift of.
A. The production possibility frontier
B. The gross domestic barrier
C. The marginal consumption frontier
D. The Minimum Efficient scale
10 A mixed economy
A. Has supply but not demand
B. Has demand but not supply
C. Has supply and demant
D. Has market forces and government intervention

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