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

Total revenue equals

Question # 2

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

Question # 3

A supply curve that starts at the origin has

Question # 4

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

Question # 5

A recurring theme in economics is.

Question # 6

In monopolistic competition

Question # 7

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

Question # 8

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

Question # 9

Increased levels of spending on imports

Question # 10

Which does the government not control directly.

Question # 11

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

Question # 12

Which kind economics deals with issues such as unemployment inflation, and economic growth.

Question # 13

In monopolistic competition if firms are making abnormal profit other firms will enter and

Question # 14

If the price is less than the average cost but higher than the average variable costs.

Question # 15

Profit making is basic motive in.

Question # 16

An independent assessment of the impact of firm's activities on society is called a.

Question # 17

According to schumpater

Question # 18

A government might use tax to.

Question # 19

Economic growth can be measured by

Question # 20

Which of the following would decrease aggregate demand.

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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 concept of "Interdependence of markets" can refer to the interdependence between.
A. Two or more factor markets
B. Goods and factor markets
C. Goods markets
D. All of the above
2 When supply increases in an agricultural market famer's earnings might fall because.
A. Supply is price elastic
B. Demand is price inelastic
C. the government buys up all the excess production
D. All output must be sold at a maximum price
3 Firms in perfect competition face a
A. Perfectly elastic demand curve
B. Perfectly inelastic demand curve
C. Perfectly elastic supply curve
D. Perfectly inelastic supply curve
4 The law of demand states that.
A. As the quantity demanded rises, the price rises.
B. As the price rises the quantity demanded rises
C. As the price rises, the quantity demanded falls.
D. As supply rises, the demand rises.
5 In perfect competition.
A. the products firm offer are very similar
B. Products are heavily differentiated
C. A few firms dominate the market
D. Consumers have limited information
6 A study of how increase in the minimum wage rate will effect the national unemployment rate is an example of.
A. Descriptive economics
B. Normative economics
C. Macro economics
D. Micro economics
7 Economics given can be shown by
A. An inward shift of the production possibility frontier
B. A movement down the production possibility frontier
C. An outward shift of the production possibility frontier
D. A movement up the production possibility frontier
8 Increase un employment benefits and less incentive to work would.
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
9 Demand for primary products is likely to be
A. Very sensitive to price
B. Price elastic
C. Unit elastic
D. Income inelastic
10 In economics we ofthe say that a particular event will occur "as long as other things stay the same. " The conduction that other thing saty the same is also called.
A. Ceteris paribus
B. Marginal decision making
C. Incentives
D. Secondary effects

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