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

Unfair competition does not include

Question # 2

A mixed economy

Question # 3

Scarcity means that

Question # 4

Globalization is likely to increase with

Question # 5

Economics given can be shown by

Question # 6

Which of the following is not a way of helping developing economics.

Question # 7

Earning from primary products are often unstable because.

Question # 8

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

Question # 9

The price mechanism cannot.

Question # 10

If injections are greater than withdrawals.

Question # 11

Which of the following is true.

Question # 12

In the short term a firm will produce provided the revenue

Question # 13

A reduction in the costs of production will

Question # 14

An increase in price all other, things unchanged leads to.

Question # 15

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

Question # 16

Which of the following is not one of the four Ps in marketing.

Question # 17

Which of the following is not a supply side measure.

Question # 18

If marginal cost is positive and falling.

Question # 19

What lies is at the heart of the allocation of goods and services in a free market economy.

Question # 20

Increase un employment benefits and less incentive to work would.

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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 In a perfectly competitive labour market firms are wage takers and the marginal cost of labour equals.
A. the average cost of labour
B. The marginal product
C. The marginal revenue
D. The total cost of labour
2 An increase in the wage rate.
A. Will usually lead to more people employed
B. Will decrease total earnings if the demand for labour is wage elastic
C. Is illegal in a free market
D. Will cause a shift in the demand for labour
3 In a command economy
A. The price mechanism acts as an incentive
B. Resources are allocated by market forces
C. Individual firms make decisions for themselves about what to produce and how to produce it.
D. The public sector is large
4 Prices that do not always adjust rapidly to maintain equality between quantity supplied and quantity demanded are.
A. Market prices
B. Sticky prices
C. Fixed prices
D. Regulatory prices
5 An independent assessment of the impact of firm's activities on society is called a.
A. Financial audit
B. Balance sheet
C. Profit and uses account
D. Social audit
6 In perfect price discrimination
A. Consumer surplus is maximized
B. Produce surplus is zero
C. Community surplus is maximized
D. Consumer surplus is zero
7 Macro economics deals with
A. Only the decisions made by individuals and their results.
B. Only the decisions made by businesses and their results.
C. Mostly large scale decisions made by countries and governments, and their results.
D. Only the decisions made by individuals but not the results.
8 An injection of funds into a less developed country might set off the
A. Multiplier
B. Marginal propensity to save
C. Average propensity to consume
D. The Laffer effect
9 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
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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