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

Equilibrium in the market for good A obtains.

Question # 2

Developing economies usually

Question # 3

The fundamental economic problem faced by all societies is.

Question # 4

If economics when we say that people are rational, we mean that they.

Question # 5

Economic growth can be measured by

Question # 6

A government might use tax to.

Question # 7

A public good will

Question # 8

All currencies other than the domestic currency of a given country are referred to as.

Question # 9

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

Question # 10

Earning from primary products are often unstable because.

Question # 11

Economists use the term utility to mean

Question # 12

According to the law of diminishing utility.

Question # 13

Human wants are

Question # 14

Nationalization occurs when

Question # 15

Rapid increases in the price level during periods of recession or high unemployment are known as.

Question # 16

When an economy first begins to frow more slowly.

Question # 17

When internal economics of scale occur

Question # 18

Which of the following can the government not use directly to control the economy.

Question # 19

In the short term a firm will produce provided the revenue

Question # 20

Economists use the term marginal utility to mean.

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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 An economy may operate outside the production possibility frontier it.
A. It is not utilizing its resources fully
B. It is being productively efficient
C. It is a maxed economy
D. It is trading with other economics
2 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
3 Which of the following is not a macro economic issue.
A. Unempolyment
B. Inflaction
C. The wages paid to footballers
D. Economic growth
4 In land intensive method which mean production is used comparativelymore
A. Labour
B. Land
C. Capital
D. Organization
5 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
6 With a positive externality
A. There is under consumption in the free market
B. There is over consumption in the free market
C. The government may tax to decrease production
D. Society could be made off if less was produced
7 A subsidy paid to producers.
A. Shifts the supply curve
B. Shifts the demand curve
C. Leads to a contractional supply
D. Leads to an extension of supply
8 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
9 If marginal cost is positive and falling.
A. Total cost is falling
B. Total cost is increasing at a falling rate
C. Total cost is falling at a falling rate
D. Total cost is increasing at an increasing rate.
10 A profit maximizing firm in perfect competition produces where
A. Total revenue is maximized
B. Marginal revenue equals zero
C. Marginal revenue equals marginal cost
D. Marginal revenue equals average cost

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