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

Effective branding will tend to make

Question # 2

A cut in the tax rate designed to reduce the business investment is an example of.

Question # 3

If the price was fixed below the equilibrium price there would be.

Question # 4

A public good will

Question # 5

Horizontal integration may lead to internal economics of scale. Which of the following is not a type of internal economy of scale.

Question # 6

When an economy first begins to frow more slowly.

Question # 7

If firms join together to set prices and quantities this is known as what.

Question # 8

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

Question # 9

Ordinal measurement approach was not presented by

Question # 10

A demand switching policy could be.

Question # 11

Which of the following is not a supply side measure.

Question # 12

The natural rate of unemployment is likely to tall if

Question # 13

The marginal rate of tax paid is.

Question # 14

If the marginal revenue is less than the marginal cost then to profit maximize a firm should.

Question # 15

An independent assessment of the impact of firm's activities on society is called a.

Question # 16

A deflationary policy could include

Question # 17

In a recession, GDP.

Question # 18

An increase in price all other things unchanged leads to.

Question # 19

The marginal propensity to consume is equal to.

Question # 20

The first level of output at which the long run average costs are minimized is called.

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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 perfect competition.
A. the products firm offer are very similar
B. Products are heavily differentiated
C. A few firms dominate the market
D. Consumers have limited information
2 As income increases.
A. the average propensity to consume gets nearer in value to the marginal propensity to consume
B. the average propensity to consume diverges in value from the marginal propensity to consume
C. the average propensity to consume falls
D. The averge propensity to consume always approaches 0
3 A scarce good.
A. Does not exist
B. Is a good that can only be purchased with money
C. Is a good that can never be purchased with money
D. Is a good that is available in limited quantities, but is desired in greater quantities.
4 Increased levels of spending on imports
A. shift aggregate supply to the right
B. Shift aggregate supply to the left
C. Shift aggregate demand to the right
D. Shift aggregate demand to the left
5 An increase in the costs of production will
A. Shift demand out wards
B. Shift demand in wards
C. Shift supply out wards so more is supplied at each and every price all other things unchanged.
D. Shift supply inwards
6 In monopolistic competition firms profit maximize where
A. Marginal revenue = average revenue
B. Marginal revenue= Marginal cost
C. Marginal revenue= Average cost
D. Marginal revenue = Total cost
7 In monopoly in long run equilibrium.
A. The firm is productively effieient
B. The firm is allocatively inefficient
C. The firm produces where marginal cost is less than marginal revenue
D. The firm produces at the sociality optimal level
8 Which of the following would decrease aggregate demand.
A. Increased consumption
B. Increasing export revenue
C. Increased taxation revenue
D. Increased investment
9 Exchange rates that are determined by the unregulated forces of supply and demand are.
A. Floating exchange rates
B. Pegged exchange rates
C. Fixed exchange rate
D. Managed exchange rates
10 A reflationary policy
A. Increases aggregate supply
B. Increases aggregate demand
C. Decreases the price level
D. Increase full employment

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