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

An increase in interest rates.

Question # 2

Developing economies usually

Question # 3

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

Question # 4

The socially optimal rate of growth is

Question # 5

Firm in oligopoly are likely to.

Question # 6

In a free market the combination of products produced will be determined by.

Question # 7

Say's law states that

Question # 8

Less demand in the economy may increase unemployment this may lead to less spending which may reduce demand further This is called.

Question # 9

The marginal propensity to consume in a less Developed Country is likely to be.

Question # 10

An increase in the costs of production will

Question # 11

In perfect competition.

Question # 12

In a less developed country.

Question # 13

A contraction in supply occurs when

Question # 14

Sales taxes are generally considered to be.

Question # 15

Supply side policies are most appropriate to cure.

Question # 16

To maximize sales revenue a firm should produce where

Question # 17

The profit per scale is a measure of.

Question # 18

What is the effect of imposing a fixed per unit tax on a good on its equilibrium price and quantity.

Question # 19

In cartels.

Question # 20

Which of the following is a characteristic of pure monopoly.

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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 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.
2 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
3 If labour productivity per week is 200 units and there are 5 employees what is the total output.
A. 40 units
B. 195 units
C. 1000 units
D. 200 units
4 Which of the following is true.
A. If the marginal cost is greater than the average cost the average cost fallls.
B. If the marginal cost is greater than the average cost the average cost increases.
C. If the marginal cost is positive total costs are maximized
D. If the marginal cost is negatives total costs increase at a decreasing rate if output increases
5 A movement along the demand curve may be caused by
A. A change in income
B. A change en the number of buyers
C. A change in advertising
D. A shift in supply
6 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.
7 Prices that do not always adjust rapidly to maintain equality between quantity supplied and quantity demanded are.
A. Market prices
B. Sticky prices
C. Fixed prices
D. Regulatory prices
8 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.
9 Lower interest rates are likely to.
A. Decrease consumption
B. Increase cost of borrowing
C. Encourage saving
D. Increase spending
10 If employees cannot accept a job because of the costs of moving this is known as.
A. Occupational immobility
B. Cyclical unemployment
C. Structural immobility
D. Geographical immobility

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