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

If firm earn normal profits.

Question # 2

The natural rate of unemployment is likely to tall if

Question # 3

Demand for labour is more likely to be wage inelastic if.

Question # 4

Scarcity means that

Question # 5

Supply side policies are most appropriate to cure.

Question # 6

In the long run in perfect competitiion

Question # 7

Compared to the case of perfect competition, a monopolist is more likely to

Question # 8

Economics given can be shown by

Question # 9

Which of the following is a policy instrument .as opposed to a government objective.

Question # 10

In land intensive method which mean production is used comparativelymore

Question # 11

The concept of "Interdependence of markets" can refer to the interdependence between.

Question # 12

The law of diminishing returns assumes.

Question # 13

An expansionist fiscal policy could include

Question # 14

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

Question # 15

Less Developed countries lend to have

Question # 16

Normal profit occurs when

Question # 17

Macro economics deals with

Question # 18

Menu costs in relation to inflation refer to

Question # 19

In a recession a government.

Question # 20

Developing economics usually have

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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 marginal propensity to consume is equal to.
A. Total spending /total consumption
B. total consumption/total income
C. Change in consumption/change in income
D. Change in consumption/change in savings
2 A deflationary policy could include
A. Increasing injections
B. Reducing taxation rates
C. Reducing interest rates
D. Reducing government spending
3 Macro economics deals with
A. Only the decisions made by individuals and their results.
B. Only the decisions made by businesses and their results.
C. Mostly large scale decisions made by countries and governments, and their results.
D. Only the decisions made by individuals but not the results.
4 According to the quantity theory of money an increase in the money supply is most likely to lead ot inflation if
A. The velocity of circulation decreases
B. The number of transactions decreases
C. There is deflation
D. The velocity of circulation and the number of transactions is constant
5 Economists use the term marginal utility to mean.
A. Additional satisfaction gained divided by additional cost of the last unit.
B. Additional satisfaction gained by the consumption of one more unit of a good
C. Total satisfaction gained when consuming a given number of units.
D. The process of comparing marginal units of all goods which could be purchased
6 Occupational immobility of labour occurs if.
A. People lack information
B. People do not want to work
C. People do not have the right skills to work
D. People cannot afford to move location
7 An increase in aggregate demand if aggregate supply is totally inelastic will.
A. Increase price but not output
B. Increase output but not price
C. Increase out put and price
D. Decrease output and price
8 Improved training of employees would.
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
9 A reflationary policy
A. Increases aggregate supply
B. Increases aggregate demand
C. Decreases the price level
D. Increase full employment
10 An independent assessment of the impact of firm's activities on society is called a.
A. Financial audit
B. Balance sheet
C. Profit and uses account
D. Social audit

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