PPSC Economics Topic 1 Basic Economics

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  • Chapter NameBasic Economics

PPSC Economics Topic 1 Basic Economics

  • Total Questions20

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PPSC Economics Topic 1 Basic Economics

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Question # 1

A movement along the supply curve may be caused by

Question # 2

In the short term a firm will produce provided the revenue

Question # 3

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

Question # 4

A reflationary policy

Question # 5

Supply is likely to be more price elastic.

Question # 6

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

Question # 7

For perfectly competitive firm

Question # 8

All currencies other than the domestic currency of a given country are referred to as.

Question # 9

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

Question # 10

The law of demand states that.

Question # 11

In land intensive method which mean production is used comparativelymore

Question # 12

An increase in the wage rate.

Question # 13

The sacrifice involved when you choose a particular course of action is called the

Question # 14

If the marginal revenue is positive

Question # 15

If the exchange rate is above the equilibrium level.

Question # 16

Capital, as economists use the term.

Question # 17

A demand switching policy could be.

Question # 18

To maximize sales revenue a firm should produce where

Question # 19

Investment is an out stable element of aggregate demand because is depends heavily on.

Question # 20

Demand pull inflation may be caused by

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