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PPSC Economics Topic 1 Basic Economics
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Total Questions20
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Time Allowed20
PPSC Economics Topic 1 Basic Economics
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Question # 1
The goal of a pure market economy is to best meet the desires of.
Question # 2
What lies is at the heart of the allocation of goods and services in a free market economy.
Question # 3
Which of the following is not a supply side measure.
Question # 4
What does ceteris paribus mean.
Question # 5
Prices that do not always adjust rapidly to maintain equality between quantity supplied and quantity demanded are.
Question # 6
To reduce cyclical unemployment the government might.
Question # 7
To be allocatively efficient ta firm must produce where
Question # 8
The hypothesis that people know the true model of the economy and that they use this model and al available information to form their expectations of the future is the
Question # 9
Acquisition and merger are examples of.
Question # 10
If there is cyclical unemployment in the economy the government might.
Question # 11
Developing economics usually have
Question # 12
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.
Question # 13
A subsidy paid to producers.
Question # 14
In a less developed country.
Question # 15
Demand pull inflation may be caused by
Question # 16
Japan's low interest rates in the mid 80's were due to.
Question # 17
In monopolistic competition
Question # 18
The resources in the economy do not include.
Question # 19
What is the effect of imposing a fixed per unit tax on a good on its equilibrium price and quantity.
Question # 20
Total revenue equals
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