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

A higher GDP per capita may not mean that the quality of life has really improved because.

Question # 2

A demand switching policy could be.

Question # 3

Firms in perfect competition face a

Question # 4

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

Question # 5

If there is a price floor there will be.

Question # 6

Aggregate demand will increase if

Question # 7

Which of the following is not a supply side measure.

Question # 8

An increase in the marginal propensity to consume will

Question # 9

To reduce cyclical unemployment the government might.

Question # 10

A subsidy paid to producers.

Question # 11

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

Question # 12

Which of the following is not likely to be a government objective.

Question # 13

Increase un employment benefits and less incentive to work would.

Question # 14

Which of the following is not involved with fiscal policy.

Question # 15

Acquisition and merger are examples of.

Question # 16

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

Question # 17

If employees cannot accept a job because of the costs of moving this is known as.

Question # 18

For equilibrium in an open four sector economy

Question # 19

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

Question # 20

Lower interest rates are likely to.

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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 A shift in supply will have a bigger effect on price than output if demand is.
A. Income elastic
B. Income inelastic
C. Price elastic
D. Price inelastic
2 Which of the following best defines price discrimination.
A. Charging different prices on the basis of race
B. Charging different prices for goods with different costs of production
C. Charging different prices based on cost of service differences.
D. Selling a certain product of given quality and cost per unit at different prices to different buyers
3 In a recession
A. Unemployment is likely to be low
B. prices are likely to increase
C. Growth is negative
D. Growth is slow
4 Firm in oligopoly are likely to.
A. Invest heavily in branding
B. Act independently of other firms
C. Try to differentiate its products
D. Try to be a price maker
5 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
6 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
7 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.
8 Which of the following is not a global organization?
A. IMF
B. World bank
C. Competition commission
D. WTO
9 Which of the following is necessary for a natural monopoly.
A. Economies of scale
B. A high proportion of the total cost is the cost of capital goods
C. The market is very small
D. All of the above
10 Aggregate demand refers to the total demand for all domestically produced goods and services in an economy generated from.
A. The household and government sectors
B. The household sector
C. All sectors except the rest of the world
D. All sectors including the rest of the world.

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