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

In the long term a firm will produce provident the revenue covers.

Question # 2

The free market involves

Question # 3

An increase in the marginal propensity to consume will

Question # 4

An economy may operate outside the production possibility frontier it.

Question # 5

Laboratory experiments cannot be performed in economics because.

Question # 6

A cut in the income tax rate designed to encourage household consumption is an example of.

Question # 7

Which of the following is necessary for a natural monopoly.

Question # 8

In pure monopoly what is the relation between the price and teh marginal revenue.

Question # 9

If the "Regulated -market" price is below the equilibrium price.

Question # 10

Macro economics deals with

Question # 11

A subsidy paid to producers.

Question # 12

Government policies that focus on increasing production rather than demand are called.

Question # 13

To adjust from gross National Product to Net National Product

Question # 14

For perfectly competitive firm

Question # 15

"Reducing inflation is a more important objective than economic growth" is an example of.

Question # 16

In the long run in perfect competition

Question # 17

An increase in costs will

Question # 18

In marketing "USP " Stand for

Question # 19

In a market system sellers act in ___ interest, but this leads to behaviors in ___ interest.

Question # 20

A recurring theme in economics is.

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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 Laboratory experiments cannot be performed in economics because.
A. Of resource scarcity
B. Economics is a natural science
C. Of the difficulty of distinguishing between normative and positive statements.
D. Economics is a social science
2 Scarcity means that
A. We cannot have everything that we might want
B. We have to make choices between the things we desire.
C. There are costs to just about any activity we undertake
D. We must give up some thing in order to obtain other things.
3 Normal profit occurs when
A. Average revenue equals average variable cost
B. Marginal revenue equals marginal cost
C. Average revenue equals marginal cost
D. Average revenue equals average cost
4 Which of the following is not a supply side measure.
A. Increased training
B. Providing more information
C. Helping individuals to move location to find work
D. Increasing spending on existing industries.
5 In a recession
A. Unemployment is likely to be low
B. prices are likely to increase
C. Growth is negative
D. Growth is slow
6 The law of demand states that.
A. As the quantity demanded rises, the price rises.
B. As the price rises the quantity demanded rises
C. As the price rises, the quantity demanded falls.
D. As supply rises, the demand rises.
7 Which of the following is a normative statement in economics.
A. More spending by the government reduces poverty
B. Higher taxes lead to less desire to work
C. the UK Economy is growing fast relative to other European Union members
D. The Government should concentrate on reducing unemployment
8 Lower interest rates are likely to.
A. Decrease consumption
B. Increase cost of borrowing
C. Encourage saving
D. Increase spending
9 If demand increase in a market this will usually lead to.
A. A higher equilibrium price and output
B. a lower equilibrium price and higher output
C. A lower equilibrium price and output.
D. A higher equilibrium price and lower output
10 An increase in investment is most likely to be caused by.
A. Lower interest rates
B. Lower national income
C. A decreasing the marginal propensity to consume
D. An increase in with drywalls.

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