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

Market is called father of economics

Question # 2

In marketing "USP " Stand for

Question # 3

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

Question # 4

If demand increase in a market this will usually lead to.

Question # 5

Equilibrium in the market for good A obtains.

Question # 6

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

Question # 7

Nationalization occurs when

Question # 8

An increase in aggregate demand will have most effect on prices if.

Question # 9

Which of the following is a normative statement in economics.

Question # 10

Revealed preference theory was presented by.

Question # 11

Which of the following is not one of the four Ps in marketing.

Question # 12

For equilibrium in an open four sector economy

Question # 13

A movement along the demand curve may be caused by

Question # 14

An increase income will

Question # 15

The law of diminishing returns assumes.

Question # 16

In the short term a firm will produce provided the revenue

Question # 17

Which of the following is not one of the basic economic questions.

Question # 18

If the economy grows the government's budget position will automatically

Question # 19

The socially optimal rate of growth is

Question # 20

Aggregate demand will increase if

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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 If injections are greater than withdrawals.
A. National income will increase
B. National income will decrease
C. National income will stay in equilibrium
D. Price will fall
2 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.
3 In cartels.
A. Firms complete against each other
B. Price wars are common
C. Firms use price to win market share from competitors
D. Firms collude
4 Why is the law of diminishing marginal returns true.
A. specialization and division of labor
B. Spreading the average fixed cost
C. Limited capital
D. All factors being variable in the long run
5 If the price elasticity of demand for a product in market A is -0.2 and in market B is -3 a price discriminator will charge.
A. The higher price in market A
B. The higher price in market B
C. The same price in both markets
D. There are many sellers
6 If there is a price celling there will be
A. Shortages
B. Surpluses
C. Equilibrium
D. None of these
7 A multinational busniess
A. Sells products abroad
B. Produces in more than one country
C. Imports from abroad
D. Sells only domestically
8 Which of the following best defines price discrimination.
A. Charging different prices on the basis of race
B. Charging different prices for goods with different costs of production
C. Charging different prices based on cost of service differences.
D. Selling a certain product of given quality and cost per unit at different prices to different buyers
9 Firm in oligopoly are likely to.
A. Invest heavily in branding
B. Act independently of other firms
C. Try to differentiate its products
D. Try to be a price maker
10 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

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