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

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PPSC Economics Topic 1 Basic Economics

00:00
Question # 1

If injection are less than with drawls at the full employment level of national income there is.

Question # 2

Over time the price of primary products tends to fall because.

Question # 3

Economics is the study of.

Question # 4

In a command economy

Question # 5

If the marginal revenue is positive

Question # 6

To anticipate what the economy is going to do next the government will look at.

Question # 7

A reflationary policy

Question # 8

An increase in costs will

Question # 9

Developing economies usually

Question # 10

Free trade is based on the principle of

Question # 11

Economic growth can be measured by

Question # 12

Tariffs.

Question # 13

If there is a price floor there will be.

Question # 14

Which of the following is true.

Question # 15

Assuming a downward sloping demand curve and upward sloping supply curve a higher equilibrium price may be caused by.

Question # 16

An increase in price all other things unchanged leads to.

Question # 17

Firm in oligopoly are likely to.

Question # 18

In land intensive method which mean production is used comparativelymore

Question # 19

Which of the following is not a macro economic issue.

Question # 20

Economists use the term marginal utility to mean.

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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 not an obvious or direct determinant of a country's imports.
A. Real exchange rate
B. Income
C. Tariff rates
D. Interest rate
2 A recurring theme in economics is.
A. People have unlimited wants in the face of limited resources
B. There are unlimited resources
C. Our country is rich, we just don't realize it
D. People have limited wants in the face of limited resource.
3 If the price was fixed below the equilibrium price there would be.
A. Excess supply
B. Excess demand
C. Equilibrium
D. Down ward pressure on prices
4 Can economic theories be tested.
A. No since individuals will seldom respond in predictable ways
B. Yes, since all individuals respond int he same ways to the same situation.
C. No , since the general behavior of a large numebr of individuals cannot be predicated
D. Yes , since people will, on average, respond in predictable ways to changes in costs and benefits.
5 A welfare less occurs in monopoly where
A. The price in greater than the marginal cost
B. The price is greater than the marginal benefit
C. The price is greater than the average revenue
D. Has the right to investigate monopolies and will assess each one on its own mertis
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 An increase in productivity should.
A. Lead to a contraction of supply
B. Lead to an expansion of supply
C. Lead to a shift in supply outwards
D. Lead to higher equilibrium and lower equilibrium quantity.
8 A profit maximizing firm in perfect competition produces where
A. Total revenue is maximized
B. Marginal revenue equals zero
C. Marginal revenue equals marginal cost
D. Marginal revenue equals average cost
9 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
10 To adjust from gross National Product to Net National Product
A. Deduct deprecation
B. Deduct indirect taxes
C. Deduct subsidies
D. Add inflation

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