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

Why might a country resist globalization.

Question # 2

Economic growth can be measured by

Question # 3

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

Question # 4

Which of the following is not one of the four Ps in marketing.

Question # 5

Economics given can be shown by

Question # 6

An outward shift in the marginal efficacy of capital should.

Question # 7

Which of the following is not a macro economic issue.

Question # 8

If there is a price celling which of the following is NOT likely to occur.

Question # 9

The natural rate of unemployment is likely to tall if

Question # 10

If an economy is productively efficient.

Question # 11

A reduction in the costs of production will

Question # 12

The economists who emphasized wage flexibility as a solution for unemployment were.

Question # 13

An economy may operate outside the production possibility frontier it.

Question # 14

If a maximum price is set below equilibrium there will be.

Question # 15

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

Question # 16

In a recession

Question # 17

In monopoly which of the following is true.

Question # 18

Nationalization occurs when

Question # 19

The best describes consumer surplus.

Question # 20

An increase income will

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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 Which of the following is not a way of helping developing economics.
A. Aid
B. Loans
C. Protectionism of developed markets
D. Training and education programmes
2 Over time the price of primary products tends to fall because.
A. Demand is income elastic
B. Supply is income elastic
C. Of outward shifts in supply
D. Demand is price elastic
3 Injection are
A. Assumed to be exogenous
B. Assumed to be a function of national income
C. Decrease aggregate demand
D. Decrease the investment into an economy
4 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
5 The liquidity trap occurs when the demand for money
A. Is perfectly interest elastic
B. Is perfectly interest inelastic
C. Means that an increase in money supply leads to a fall int he interest rate
D. Means that an increase in the money supply leads to an increase in the interest rate
6 If a few firms dominate an industry the market is known as.
A. Monopolistic competition
B. Competitively monopolistic
C. Duopoly
D. Oligopoly
7 Ordinal measurement approach was not presented by
A. Allen
B. Hicks
C. Edge worth
D. Robbins
8 The demand for a product would be more inelastic.
A. The greater is the time under consideration
B. The greater is the number of substitutes available to buyers
C. The less expensive is the product in relation to incomes
D. all of the above.
9 Developing economics usually have
A. Low GDP per captia
B. Low CPI
C. Large balance of payments surpluses
D. Large budget surpluses
10 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

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