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

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PPSC Economics Topic 1 Basic Economics

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Question # 1

An increase in the wage rate.

Question # 2

A multinational busniess

Question # 3

In a command economy

Question # 4

If the marginal revenue is positive

Question # 5

Why might a country resist globalization.

Question # 6

A government might use tax to.

Question # 7

Ordinal measurement approach was not presented by

Question # 8

Macro economics deals with

Question # 9

Economics given can be shown by

Question # 10

If the exchange rate is above the equilibrium level.

Question # 11

Free trade is based on the principle of

Question # 12

If people are made unemployed because of a fall in aggregate demand this is known as.

Question # 13

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

Question # 14

The best describes consumer surplus.

Question # 15

The marginal Revenue product is.

Question # 16

If marginal utility is zero.

Question # 17

A public good

Question # 18

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

Question # 19

A model of game theory of oligopoly is known as the

Question # 20

If the "Regulated -market" price is below the equilibrium price.

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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 theory of investment says that induced investments determined by.
A. The rate of change of national income
B. Expectations
C. The level of national income
D. The level of aggregate demand
2 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
3 A cut in the income tax rate designed to encourage household consumption is an example of.
A. Expansionary demand side policy
B. Contractionary demand side policy
C. Expansionary supply side policy
D. Contractionary supply side policy
4 Which of the following is not a way of helping developing economics.
A. Aid
B. Loans
C. Protectionism of developed markets
D. Training and education programmes
5 If the exchange rate is above the equilibrium level.
A. There is excess demand and teh exchange rate will fall
B. There is excess supply and the exchange rate will fall
C. There is excess demand and the exchange rate will rise
D. There is excess supply and the exchange rate will rise
6 If the price was fixed below the equilibrium price there would be.
A. Excess supply
B. Excess demand
C. Equilibrium
D. Down ward pressure on prices
7 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
8 Menu costs in relation to inflation refer to
A. Costs of finding better rates of return
B. Costs of altering price lists
C. Costs of money increasing its value
D. Costs of revaluing the currency
9 The liquidity trap occurs when the demand for money
A. Is perfectly interest elastic
B. Is perfectly interest inelastic
C. Means that an increase in money supply leads to a fall int he interest rate
D. Means that an increase in the money supply leads to an increase in the interest rate
10 A mixed economy
A. Has supply but not demand
B. Has demand but not supply
C. Has supply and demant
D. Has market forces and government intervention

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