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

In order to maximize profits a monopoly company will produce that quantity at which the.

Question # 2

To anticipate what the economy is going to do next the government will look at.

Question # 3

In a market system sellers act in ___ interest, but this leads to behaviors in ___ interest.

Question # 4

If the marginal revenue is less than the marginal cost then to profit maximize a firm should.

Question # 5

Companies in the private sector are owned by

Question # 6

Menu costs in relation to inflation refer to

Question # 7

Barriers to entry do not include

Question # 8

Which of the following would decrease aggregate demand.

Question # 9

In marketing "USP " Stand for

Question # 10

As income increases.

Question # 11

What makes economics scientific.

Question # 12

Supply side policies are most appropriate to cure.

Question # 13

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

Question # 14

Earning from primary products are often unstable because.

Question # 15

Demand for primary products is likely to be

Question # 16

A supply curve that starts at the origin has

Question # 17

If there is cyclical unemployment in the economy the government might.

Question # 18

Economics growth can be seen by an outward shift of.

Question # 19

If an increase in investment leads to a bigger increase in national income this is called the.

Question # 20

To reduce cyclical unemployment the government might.

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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 The accelerator assumes.
A. The marginal propensity to consume is constant
B. The economy is at full employment
C. There is a constant relationship between net investment and the rate of change of output
D. The multiplier is constant
2 The socially optimal rate of growth is
A. Zero
B. Negative
C. Where the marginal social benefit the marginal social cost
D. total social costs are minimized
3 There are three fundamental questions every society must answer Which of the following is one of these questions.
A. What goods and services are to be produced.
B. How are the good and services to be produced.
C. Who will get the goods and services what are produced.
D. All of the above
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 Which of the following is not a global organization?
A. IMF
B. World bank
C. Competition commission
D. WTO
6 What does the phrases "there is no such thing as a free lunch'mean"
A. Individuals must always pay money for the food the eat.
B. No restaurant wner will provide food to patrons unless they pay her
C. Restaurant owners act selfishly
D. Consumption of any good requires that other goods be given up
7 The sacrifice involved when you choose a particular course of action is called the
A. Alterative
B. Opportunity cost
C. Consumer cost
D. Producer cost
8 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.
9 Compared to the case of perfect competition, a monopolist is more likely to
A. Charge a higher price
B. Produce a lower quantity of the product
C. Make a greater amount of economic profit
D. All of the above
10 Revealed preference theory was presented by.
A. Samuelson
B. Hicks
C. Marshall
D. rICARDO

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