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

  • Total Questions20

  • Time Allowed20

Start Test Download PDF

PPSC Economics Topic 1 Basic Economics

00:00
Question # 1

Resources in an economy

Question # 2

To reduce cyclical unemployment the government might.

Question # 3

In a recession

Question # 4

Barriers to entry do not include

Question # 5

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

Question # 6

A recurring theme in economics is.

Question # 7

Which of the following is necessary for a natural monopoly.

Question # 8

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

Question # 9

Globalization is made more difficult by

Question # 10

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

Question # 11

Game theory

Question # 12

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

Question # 13

If firm earn normal profits.

Question # 14

According to Keynes, the level of employment is determined by

Question # 15

An increase in price all other, things unchanged leads to.

Question # 16

Why might a country resist globalization.

Question # 17

Increased levels of spending on imports

Question # 18

An increase in aggregate demand is more likely to lead to demand pull inflation if.

Question # 19

A government might use tax to.

Question # 20

Exchange rates that are determined by the unregulated forces of supply and demand are.

Submit

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


Topic Test

00:00
Submit
 
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.

Start Chapter 1 Test

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 A recurring theme in economics is.
A. People have unlimited wants in the face of limited resources
B. There are unlimited resources
C. Our country is rich, we just don't realize it
D. People have limited wants in the face of limited resource.
2 To be allocatively efficient ta firm must produce where
A. the total cost equals demand
B. the average revenue equals the marginal revenue
C. The price equals the average cost
D. The price equals the marginal cost
3 In the long term a firm will produce provident the revenue covers.
A. Fixed costs
B. Variable cost
C. Total costs
D. Revenue
4 If product an inferior good.
A. Demand is inversely related to income
B. Demand is inversely related to price
C. Demand is directly related to price
D. Demand is inversely related to the price of substitutes
5 In marketing "USP " Stand for
A. Unique selling proposition
B. Underlying sales pitch
C. Unit sales point
D. Under sales procedure
6 In a less developed country.
A. The infrastructure is likely to be good.
B. Real wages are likely to be high
C. Unemployment is likely to be low
D. The primary sector is likely to be significant
7 "Income inequality can be high in the free market and should be reduce ".This is an example of what.?
A. Judicial economic statement.
B. Positive economic statement
C. Formative economic statement
D. Normative economic statement
8 The public sector includes.
A. Investors owning companies
B. Government ownership of assets
C. Market forces of supply and demand
D. All trade via barter
9 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
10 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

Test Questions