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

A government might use tax to.

Question # 2

A cut in the tax rate designed to reduce the business investment is an example of.

Question # 3

Globalization is likely to increase with

Question # 4

A profit maximizing firm in perfect competition produces where

Question # 5

Laboratory experiments cannot be performed in economics because.

Question # 6

To prevent the external value of the currency from failing the government might

Question # 7

Which of the following is a normative statement in economics.

Question # 8

Investment depend mainly on.

Question # 9

Increase un employment benefits and less incentive to work would.

Question # 10

Which of the following is an injection into the economy.

Question # 11

Scarcity means that

Question # 12

According to the quantity theory of money an increase in the money supply is most likely to lead ot inflation if

Question # 13

Why does it make sense in assume that people are rational, if you want to predict their behavior.

Question # 14

If injection are less than with drawls at the full employment level of national income there is.

Question # 15

In monopoly in long run equilibrium.

Question # 16

Which of the following is the government most likely to subsidies.

Question # 17

The agricultural price support program is an example of.

Question # 18

The natural rate of unemployment is likely to tall if

Question # 19

In a Boom

Question # 20

The fundamental economic problem faced by all societies is.

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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.

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PPSC Economics Chapter 1 Important MCQ's

Sr.# Question Answer
1 An increase in the price of a complement or produce.A would.
A. Shift demand for product a out wants
B. Shift demand for product A inwards
C. shift supply for product A out wards
D. Shift supply for product A inwards
2 What does ceteris paribus mean.
A. "Scientific method"
B. "Rational thinking"
C. "Other things remaining the same"
D. "There is no such thing as a free lunc"
3 Economics is the study of.
A. All business, including how they operate why the exist and how they afect
B. Decisions that people must make because goods and services are limited.
C. How to save money, spend money invest savings, and balance a checkbook
D. The stock market the bond market and investment strategies
4 Supply is likely to be more price elastic.
A. In the short run rather than the long run
B. If factors of production are relatively immobile between industries.
C. If there are very few producers
D. If it is easy to expand output
5 An expansionist fiscal policy could include
A. Lower interest rates
B. Increased lending by the banks
C. An increase in corporation tax
D. An increase in discretionary government spending
6 Which of the following best describes the selling of a production license to another firm.
A. Hands over all rights to its products
B. Sells its products abroad
C. Sells the right to produce to another business
D. Sells the business to another business
7 If the marginal revenue is positive
A. Selling another unit will increase total revenue
B. Selling another unit will increase profits
C. Selling another unit will increase cost
D. Selling another unit will increase average revenue
8 All currencies other than the domestic currency of a given country are referred to as.
A. Reserve currencies
B. Neal monies
C. Foreign exchange
D. Hard currency
9 If the price in a market is fixed by the government above equilibrium.
A. There is excess equilibrium
B. There is excess supply
C. There is excess demand
D. There is equilibrium
10 A reduction in the costs of production will
A. Lead to a movement along the supply curve
B. Shift the demand curve
C. Shift the supply curve
D. Lead to an extension of supply

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