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

If there is a price floor there will be.

Question # 2

Increased levels of spending on imports

Question # 3

In perfect competation.

Question # 4

In a perfectly competitive labour market firms are wage takers and the marginal cost of labour equals.

Question # 5

If marginal product is below average product.

Question # 6

An increase in demand for a product should.

Question # 7

The demand for a product would be more inelastic.

Question # 8

Economic theory assumes that people

Question # 9

Tariffs.

Question # 10

A reflationary policy

Question # 11

The marginal propensity to consume is equal to.

Question # 12

In the short run firm in perfect competition will still produce provided.

Question # 13

Friend man's theory of consumption focuses on

Question # 14

Economists use the term utility to mean

Question # 15

With a positive externality

Question # 16

If an economy is productively efficient.

Question # 17

If the fprice in a market is fixed by the government below equilibrium.

Question # 18

An increase in the price of a complement or produce.A would.

Question # 19

What is the effect of imposing a fixed per unit tax on a good on its equilibrium price and quantity.

Question # 20

As the MPS increases, the multiplier will

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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 An increase in investment is most likely to be caused by.
A. Lower interest rates
B. Lower national income
C. A decreasing the marginal propensity to consume
D. An increase in with drywalls.
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 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
4 An increase in consumption at any given level of income is likely to lead to.
A. a fall in savings
B. An increase in exports
C. A fall in taxation revenue
D. A decrease in import spending
5 Occupational immobility of labour occurs if.
A. People lack information
B. People do not want to work
C. People do not have the right skills to work
D. People cannot afford to move location
6 If people are made unemployed because of a fall in aggregate demand this is known as.
A. Frictional unemployment
B. Seasonal unemployment
C. Cyclical unemployment
D. Structural unemployment
7 Which of the following can the government not use directly to control the economy.
A. Pay rates within the privates sector
B. Pay rates in the public sector
C. Investment in education
D. Benefits available for the un employed and sick
8 An increase in the wage rate.
A. Will usually lead to more people employed
B. Will decrease total earnings if the demand for labour is wage elastic
C. Is illegal in a free market
D. Will cause a shift in the demand for labour
9 If the price elasticity is -0.3 this means.
A. Demand is upward sloping
B. Demand is price elastic
C. A price fall would increase revenue
D. Demand is price inelastic
10 If a maximum price is set below equilibrium there will be.
A. A price fall
B. A price increase
C. Excess supply
D. Excess demand

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