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

  • Total Questions20

  • Time Allowed20

Start Test Download PDF

PPSC Economics Topic 1 Basic Economics

00:00
Question # 1

If labour productivity per week is 200 units and there are 5 employees what is the total output.

Question # 2

Price equal to.

Question # 3

The first level of output at which the long run average costs are minimized is called.

Question # 4

The accelerator theory of investment says that induced investments determined by.

Question # 5

Economics given can be shown by

Question # 6

Investment is an out stable element of aggregate demand because is depends heavily on.

Question # 7

Free trade is based on the principle of

Question # 8

An increase in the marginal propensity to consume will

Question # 9

Aggregate demand will increase if

Question # 10

Economic theory assumes that people

Question # 11

A cut in the income tax rate designed to encourage household consumption is an example of.

Question # 12

Which of the following is a normative statement in economics.

Question # 13

Sales taxes are generally considered to be.

Question # 14

Why might a country resist globalization.

Question # 15

If demand is price inelastic.

Question # 16

To adjust GDP from market prices to factor cost.

Question # 17

Which of the following best describes the selling of a production license to another firm.

Question # 18

The resources in an economy are

Question # 19

The agricultural price support program is an example of.

Question # 20

The standard of living is often measured by

Submit

Prepare Complete Set Wise PPSC Economics Topic 1 Basic Economics MCQs Online With Answers


Topic Test

00:00
Submit
 
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.

Start Chapter 1 Test

Top Scorers Of PPSC Economics Topic 1 Basic Economics MCQ`s Test

  • H
    HaRaL Official 25 - May - 2024 00 Min 10 Sec 20/20
  • S
    Shad Ali Shah 26 - Jul - 2024 10 Min 11 Sec 17/20
  • S
    sarmad fida 06 - Jun - 2024 06 Min 45 Sec 16/20
  • H
    Hassam Shahid 30 - Jun - 2024 07 Min 25 Sec 16/20
  • M
    M.Shakeel Arshid Waince 03 - May - 2024 06 Min 11 Sec 15/20
  • G
    graphic angel 27 - Jul - 2024 04 Min 13 Sec 14/20
  • S
    Sadia 13 - Jun - 2024 06 Min 49 Sec 14/20
  • A
    Abdul Qayyum 25 - May - 2024 07 Min 00 Sec 14/20
  • M
    Muhammad Sajjad 17 - Nov - 2024 12 Min 30 Sec 14/20
  • A
    Asifa Baloch 12 - Jul - 2024 00 Min 13 Sec 13/20
  • M
    Madiha Naz 23 - Apr - 2024 05 Min 41 Sec 13/20
  • I
    Imran Haider 06 - Jun - 2024 11 Min 32 Sec 13/20
  • R
    Rai Hasis 02 - Jun - 2024 04 Min 56 Sec 12/20
  • A
    Abdul latif 14 - May - 2024 07 Min 28 Sec 12/20
  • A
    Abida Awan 31 - Jul - 2024 08 Min 50 Sec 12/20

PPSC Economics Chapter 1 Important MCQ's

Sr.# Question Answer
1 Which of the following is a possible government objective as opposed to a policy.
A. Lower interest rates
B. Lower taxation rates
C. Lower government spending
D. Lower inflection
2 In monopolistic competition
A. Demand is perfectly elastic
B. Products are homogeneous
C. Marginal revenue = pirce
D. The marginal revenue is below the demand curve and diverges
3 If firm earn normal profits.
A. They will aim to leave the industry
B. Other firms will join the industry
C. The revenue equals total costs
D. No profit is made in accounting terms
4 According to schumpater
A. Monopolies are inefficient
B. Monopoly profits act as an incentive for innovation
C. Monopolies are allocatively efficient
D. Monopolies are productively efficient
5 In pure monopoly what is the relation between the price and teh marginal revenue.
A. The price is greater than the marginal revenue
B. The price is les than the marginal revenue
C. There is no relation
D. They are equal
6 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
7 If input price adjusted very slowly to output prices, the Phillip's curve would be.
A. Downward sloping
B. Vertical or nearly vertical
C. Upward sloping
D. Horizontal or nearly horizontal
8 Which of the following is not likely to be a government objective.
A. Increasing employment
B. Increasing economic growth
C. Increasing government spending
D. Increasing the level of exports
9 According to classical models the level of employment is determined primarily by
A. Interest rates
B. The level of prices
C. The level of aggregate supply in the economy
D. The level of aggregate demand for goods and services
10 In monopoly in long run equilibrium.
A. The firm is productively effieient
B. The firm is allocatively inefficient
C. The firm produces where marginal cost is less than marginal revenue
D. The firm produces at the sociality optimal level

Test Questions

Is this page helpful?