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

Japan's low interest rates in the mid 80's were due to.

Question # 2

Which kind economics deals with issues such as unemployment inflation, and economic growth.

Question # 3

A supply curve that starts at the origin has

Question # 4

To prevent the external value of the currency from failing the government might

Question # 5

Lower interest rates are likely to.

Question # 6

A recurring theme in economics is.

Question # 7

Compared to the case of perfect competition, a monopolist is more likely to

Question # 8

All currencies other than the domestic currency of a given country are referred to as.

Question # 9

An injection of funds into a less developed country might set off the

Question # 10

Injection are

Question # 11

Economic theory assumes that people

Question # 12

As the MPS increases, the multiplier will

Question # 13

An increase in the wage rate.

Question # 14

Gross National product equals

Question # 15

If input price adjusted very slowly to output prices, the Phillip's curve would be.

Question # 16

Occupational immobility of labour occurs if.

Question # 17

What does the phrases "there is no such thing as a free lunch'mean"

Question # 18

A depreciation of currency occur when

Question # 19

If an economy is productively efficient.

Question # 20

Aggregate demand refers to the total demand for all domestically produced goods and services in an economy generated from.

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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 a recession a government.
A. Is likely to want to increase demand in the economy
B. Is likely to want to decrease demand in the economy
C. Is likely to want to stabilize demand in the economy
D. Is likely to want to increase supply in the economy
2 The law of diminishing returns assumes.
A. There are not fixed factors of production
B. There are no variable factors of production
C. Utility is maximized when marginal product falls.
D. Some factors of production are fixed
3 The public sector includes.
A. Investors owning companies
B. Government ownership of assets
C. Market forces of supply and demand
D. All trade via barter
4 Economists use the term marginal utility to mean.
A. Additional satisfaction gained divided by additional cost of the last unit.
B. Additional satisfaction gained by the consumption of one more unit of a good
C. Total satisfaction gained when consuming a given number of units.
D. The process of comparing marginal units of all goods which could be purchased
5 The accelerator theory of investment says that induced investments determined by.
A. The rate of change of national income
B. Expectations
C. The level of national income
D. The level of aggregate demand
6 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
7 The concept of "Interdependence of markets" can refer to the interdependence between.
A. Two or more factor markets
B. Goods and factor markets
C. Goods markets
D. All of the above
8 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
9 An increase in price all other, things unchanged leads to.
A. Shift demand outwards
B. Shift demand inward
C. A contraction of demand
D. An extension of demand
10 Companies in the private sector are owned by
A. The government
B. Shareholders
C. Employees
D. The community

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