PPSC Economics Topic 1 Basic Economics

MCQ's Test For PPSC Economics Topic 1 Basic Economics

Try The MCQ's Test For PPSC Economics Topic 1 Basic Economics

  • Total Questions20

  • Time Allowed20

Start Test Download PDF

PPSC Economics Topic 1 Basic Economics

00:00
Question # 1

Equilibrium in the market for good A obtains.

Question # 2

A model of game theory of oligopoly is known as the

Question # 3

In the short term a firm will produce provided the revenue

Question # 4

An increase in the marginal propensity to consume will

Question # 5

The economists who emphasized wage flexibility as a solution for unemployment were.

Question # 6

If marginal utility is zero.

Question # 7

A public good will

Question # 8

If one car company takes over another car company this is an example of which type of integration.

Question # 9

The free market involves

Question # 10

As income increases.

Question # 11

The demand for a product would be more inelastic.

Question # 12

If inflationary expectations increase, the short run Phillip's curve will

Question # 13

A welfare less occurs in monopoly where

Question # 14

Inflation.

Question # 15

Aggregate demand refers to the total demand for all domestically produced goods and services in an economy generated from.

Question # 16

Which of the following is a possible government objective as opposed to a policy.

Question # 17

An increase in costs will

Question # 18

If marginal cost is positive and falling.

Question # 19

What does ceteris paribus mean.

Question # 20

If firms join together to set prices and quantities this is known as what.

Submit

Prepare Complete Set Wise PPSC Economics Topic 1 Basic Economics MCQs Online With Answers


Topic Test

00:00
Submit

Top Scorers Of PPSC Economics Topic 1 Basic Economics MCQ`s Test

  • H
    HaRaL Official 25 - May - 2024 00 Min 10 Sec 20/20
  • S
    Shad Ali Shah 26 - Jul - 2024 10 Min 11 Sec 17/20
  • S
    sarmad fida 06 - Jun - 2024 06 Min 45 Sec 16/20
  • H
    Hassam Shahid 30 - Jun - 2024 07 Min 25 Sec 16/20
  • M
    M.Shakeel Arshid Waince 03 - May - 2024 06 Min 11 Sec 15/20
  • G
    graphic angel 27 - Jul - 2024 04 Min 13 Sec 14/20
  • S
    Sadia 13 - Jun - 2024 06 Min 49 Sec 14/20
  • A
    Abdul Qayyum 25 - May - 2024 07 Min 00 Sec 14/20
  • M
    Muhammad Sajjad 17 - Nov - 2024 12 Min 30 Sec 14/20
  • A
    Asifa Baloch 12 - Jul - 2024 00 Min 13 Sec 13/20
  • M
    Madiha Naz 23 - Apr - 2024 05 Min 41 Sec 13/20
  • I
    Imran Haider 06 - Jun - 2024 11 Min 32 Sec 13/20
  • R
    Rai Hasis 02 - Jun - 2024 04 Min 56 Sec 12/20
  • A
    Abdul latif 14 - May - 2024 07 Min 28 Sec 12/20
  • A
    Abida Awan 31 - Jul - 2024 08 Min 50 Sec 12/20

PPSC Economics Chapter 1 Important MCQ's

Sr.# Question Answer
1 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
2 Which of the following is a characteristic of pure monopoly.
A. one seller of the product
B. Low barriers to entry
C. Close substitute products
D. Perfect information
3 The marginal propensity to consume is equal to.
A. Total spending /total consumption
B. total consumption/total income
C. Change in consumption/change in income
D. Change in consumption/change in savings
4 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
5 A public good
A. Is provided by the government
B. Is free
C. Has the properties of being non excludable and non diminishable
D. Has external costs
6 Can economic theories be tested.
A. No since individuals will seldom respond in predictable ways
B. Yes, since all individuals respond int he same ways to the same situation.
C. No , since the general behavior of a large numebr of individuals cannot be predicated
D. Yes , since people will, on average, respond in predictable ways to changes in costs and benefits.
7 The economists who emphasized wage flexibility as a solution for unemployment were.
A. Monetarists
B. New keynesians
C. Classical economists
D. Keynesians
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 In monopolistic competition
A. Demand is perfectly elastic
B. Products are homogeneous
C. Marginal revenue = pirce
D. The marginal revenue is below the demand curve and diverges
10 In monopoly which of the following is true.
A. There are many buyers and sellers
B. There is one main buyers
C. There is one main seller
D. The actions of one firm do not affect the market price and quantity.

Test Questions

Is this page helpful?