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 reduction in the money supply is likely to

Question # 2

A movement along the demand curve may be caused by

Question # 3

The natural rate of unemployment is likely to tall if

Question # 4

Which of the following rights be a scarce good.

Question # 5

In cartels.

Question # 6

When an economy first begins to frow more slowly.

Question # 7

"Reducing inflation is a more important objective than economic growth" is an example of.

Question # 8

Economics given can be shown by

Question # 9

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

Question # 10

What lies is at the heart of the allocation of goods and services in a free market economy.

Question # 11

Investment depend mainly on.

Question # 12

Globalization is made more difficult by

Question # 13

The effects of inflation on the price competitiveness of a country's products may be offset by

Question # 14

In the long term a firm will produce provident the revenue covers.

Question # 15

Globalization is likely to increase with

Question # 16

The length of a business cycle would be measured from

Question # 17

Economists use the term utility to mean

Question # 18

An injection of funds into a less developed country might set off the

Question # 19

If the price elasticity is -0.3 this means.

Question # 20

Developing economies usually

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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 If input price adjusted very slowly to output prices, the Phillip's curve would be.
A. Downward sloping
B. Vertical or nearly vertical
C. Upward sloping
D. Horizontal or nearly horizontal
2 In a recession a government.
A. Is likely to want to increase demand in the economy
B. Is likely to want to decrease demand in the economy
C. Is likely to want to stabilize demand in the economy
D. Is likely to want to increase supply in the economy
3 Less demand in the economy may increase unemployment this may lead to less spending which may reduce demand further This is called.
A. The upward accelerator
B. The downward multiplier
C. The upward PPF
D. The downward MPC
4 The free market involves
A. The free provision of products
B. The subsidizing of products by the government
C. Market forces of supply and demand
D. All trade via barter
5 The sacrifice involved when you choose a particular course of action is called the
A. Alterative
B. Opportunity cost
C. Consumer cost
D. Producer cost
6 Globalization is likely to increase with
A. More protectionism
B. An increase in tariffs
C. More trade within countries
D. Greater trade flows between countries
7 Increased levels of spending on imports
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
8 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
9 To maximize sales revenue a firm should produce where
A. Marginal cost is zero
B. Marginal revenue is maximized
C. Marginal revenue is zero
D. Marginal revenue equals marginal cost
10 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.

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