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

Improved training of employees would.

Question # 2

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

Question # 3

Earning from primary products are often unstable because.

Question # 4

If the exchange rate is above the equilibrium level.

Question # 5

Sales taxes are generally considered to be.

Question # 6

An increase in the marginal propensity to consume will

Question # 7

Which of the following is the government most likely to subsidies.

Question # 8

A benefit to consumers of price discrimination is that

Question # 9

The demand for a product would be more inelastic.

Question # 10

When an economy first begins to frow more slowly.

Question # 11

A recurring theme in economics is.

Question # 12

Developing economies usually

Question # 13

To adjust from gross National Product to Net National Product

Question # 14

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

Question # 15

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

Question # 16

In a less developed country.

Question # 17

An outward shift in the marginal efficacy of capital should.

Question # 18

To be allocatively efficient ta firm must produce where

Question # 19

Which of the following is not an argument for protectionism.

Question # 20

Capital, as economists use the term.

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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 Earning from primary products are often unstable because.
A. Demand is price elastic
B. Supply is price elastic
C. Supply conditions are relatively stable
D. Supply conditions are unstable
2 "Reducing inflation is a more important objective than economic growth" is an example of.
A. Normative economics
B. Positive economics
C. Objective economics
D. Reality economics
3 Game theory
A. Firm are assumed to act independently
B. Firms are assumed to cooperate with each other
C. Firm collude as part of a cartel
D. Firms consider the actions of others before deciding what to do.
4 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
5 A model of game theory of oligopoly is known as the
A. Prisoner's dilemma
B. Monopoly cell
C. Jailhouse sentence
D. Jury box
6 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
7 The law of demand states that.
A. As the quantity demanded rises, the price rises.
B. As the price rises the quantity demanded rises
C. As the price rises, the quantity demanded falls.
D. As supply rises, the demand rises.
8 Revealed preference theory was presented by.
A. Samuelson
B. Hicks
C. Marshall
D. rICARDO
9 The resources in an economy are
A. Constantly increasing
B. Fixed at any moment
C. Constant decreasing
D. Able to be transferred easily between industries
10 Firms in perfect competition face a
A. Perfectly elastic demand curve
B. Perfectly inelastic demand curve
C. Perfectly elastic supply curve
D. Perfectly inelastic supply curve

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