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

The law of diminishing returns states that as more of a variable factor is added to a certain amount of a fixed factor beyond some point.

Question # 2

If the marginal revenue is positive

Question # 3

An increase in the marginal propensity to consume will

Question # 4

Resources in an economy

Question # 5

Less Developed countries lend to have

Question # 6

Firms in perfect competition face a

Question # 7

Economists use the term marginal utility to mean.

Question # 8

Which of the following is not involved with fiscal policy.

Question # 9

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

Question # 10

In monopoly when abnormal profits are made.

Question # 11

The index used most often to measure inflation is the

Question # 12

If marginal cost is positive and falling.

Question # 13

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

Question # 14

In monopolistic competition if firms are making abnormal profit other firms will enter and

Question # 15

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

Question # 16

GDP plus net property income from aboard equals what.

Question # 17

A fall in interest rates is likely to

Question # 18

The concept of "Interdependence of markets" can refer to the interdependence between.

Question # 19

An economy may operate outside the production possibility frontier it.

Question # 20

Which of the following is necessary for a natural monopoly.

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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 marginal revenue equals marginal cost
A. No profit is being made
B. total revenue equals total cost
C. Profits are maximized
D. Producing another unit would increase profits
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 Which of the following is not a macro economic issue.
A. Unempolyment
B. Inflaction
C. The wages paid to footballers
D. Economic growth
4 Demand for a normal product may shift outwards if.
A. Price decreases
B. The price fo a substitute falls
C. the price of a complement rises
D. Income falls
5 Total revenue equals
A. Price Plus quantity
B. Price multiplied by quantity sold
C. Price divided by the quantity sold
D. Price minus quantity sold
6 In monopolistic competition
A. Demand is perfectly elastic
B. Products are homogeneous
C. Marginal revenue = pirce
D. The marginal revenue is below the demand curve and diverges
7 Ordinal measurement approach was not presented by
A. Allen
B. Hicks
C. Edge worth
D. Robbins
8 When marginal revenue equals marginal cost
A. Total revenue equal total cost
B. There is the biggest positive difference between total revenue and total cost
C. there is the biggest negative difference between total revenue and total cost.
D. Profits are zero
9 The length of a business cycle would be measured from
A. Peak t trough
B. Trough to peak
C. Peak to Peak
D. The slump to the expansion
10 In a recession, GDP.
A. Grows negatively
B. Grows by 0%
C. Grows slowly
D. Grows rapidly

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