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

The marginal Revenue product is.

Question # 2

Can economic theories be tested.

Question # 3

Supply is likely to be more price elastic.

Question # 4

If product an inferior good.

Question # 5

Which of the following is an injection into the economy.

Question # 6

The length of a business cycle would be measured from

Question # 7

To be allocatively efficient ta firm must produce where

Question # 8

What makes economics scientific.

Question # 9

A multinational busniess

Question # 10

According to classical models the level of employment is determined primarily by

Question # 11

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

Question # 12

Labour productivity measures.

Question # 13

Free trade is based on the principle of

Question # 14

In a recession, GDP.

Question # 15

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

Question # 16

If firm earn normal profits.

Question # 17

To reduce the supply of money the government could.

Question # 18

If the price is less than the average cost but higher than the average variable costs.

Question # 19

An outward shift in the marginal efficacy of capital should.

Question # 20

To be productively efficient a firm must produce where

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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 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.
2 An increase in the wage rate.
A. Will usually lead to more people employed
B. Will decrease total earnings if the demand for labour is wage elastic
C. Is illegal in a free market
D. Will cause a shift in the demand for labour
3 Which of the following is not one of the basic economic questions.
A. What is produce
B. Who to produce for
C. How to produce
D. How to maximize economic growth
4 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
5 Increased levels of spending on imports
A. shift aggregate supply to the right
B. Shift aggregate supply to the left
C. Shift aggregate demand to the right
D. Shift aggregate demand to the left
6 Japan's low interest rates in the mid 80's were due to.
A. High rates of domestic savings.
B. A decrease in Japan's exports
C. Increases in the U.S. deficit
D. High rates of domestic spending in Japan
7 The marginal Revenue product is.
A. Upward sloping due to the law of demand
B. Upward sloping due to the law of marginal utility
C. Downward sloping due to the law of diminishing returns.
D. Downward sloping due to the law of supply
8 Which of the following is an injection into the economy.
A. Investment
B. Saving
C. Taxation
D. Import spending
9 In a Boom
A. Surpluses are likely to occur
B. Prices are likely to fall
C. supply will increase immediately to match demand
D. Shortages may occur
10 Why does it make sense in assume that people are rational, if you want to predict their behavior.
A. People are not guided by emotions when making decisions
B. People wheo act in the way that best gets them what they want will tend to repeat that behavior, and will tend to learn from mistakes that they do make
C. People never make mistakes, and tend to make the correct choices all of the time
D. People always logically figure out what to do.

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