PPSC Economics Topic 10 MCQS Test Preparation

Punjab Public Service Commission, PPSC is an organization regulated by the Punjab government to sort out the suitable and deserving candidates for several vacant positions at the Punjab province level. The organization makes sure that the exams are conducted in a peaceful and satisfactory environment. Moreover, the organization also announces the results with complete transparency and helps in the further recruiting process at the provincial level.

MCQ's Test For PPSC Economics Topic 10 Public Finance

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PPSC Economics Topic 10 Public Finance

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Question # 1

A firm's monopolistic position is strengthened by

Question # 2

The earliest statement of the principle of comparative advantage is associated with.

Question # 3

A tax of 20 cents per unit of imported cheese would be an example of a

Question # 4

Most commonly referred indicator of inflation is

Question # 5

National Income account of Pakistan have registered GDP & GNP as.

Question # 6

International trade is based on the idea that.

Question # 7

If there is a price floor there will be

Question # 8

The monetary base is composed of.

Question # 9

In the circular flow diagram firms.

Question # 10

The goal of a pure market economy is to best meet the desires of

Question # 11

Disposable incomes is equal to.

Question # 12

Monopoly market is characteristics by

Question # 13

The overall Budget Deficit is financed from

Question # 14

Of the following which one is a characteristic of monopolistic competition.

Question # 15

In order to maximize profits a monopoly company will produce that quantity at which the

Question # 16

All economic model ae based on

Question # 17

With no government and foreign trade sectors savings always equals.

Question # 18

An economy that has achieved full production has achieved

Question # 19

In a market system, sellers act in ___________ interest, but thsi leads to behaviors in __________ interest.

Question # 20

The fundamental economics problem faced by all societies is

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Economics
10th Chapter

PPSC Economics Chapter 10 Test

Here you can prepare PPSC Economics Chapter 10 (Most Frequently Asked Economics MCQS) Test. Click the button for 100% free full practice test.

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PPSC Economics Chapter 10 Important MCQ's

Sr.# Question Answer
1 The goal of a pure market economy is to best meet the desires of
A. Consumers
B. Companies
C. Workers
D. The government
2 The earliest statement of the principle of comparative advantage is associated with.
A. Adam Smith
B. David Ricardo
C. Eli Heckshcer
D. Berti Ohlin
3 "Treating an individual as typical of a group.
A. Pure discrimination
B. statistical discrimination
C. Human capital
D. Specific skills
4 If the % change in quantity demanded is more than % change in price coefficient of price elasticity is.
A. >1
B. <1
C. =1
D. =zero
5 A straight line downward sloping demand curve implies that as price falls the elasticity of demand.
A. Increases
B. Decreases
C. Remain the same
D. None of these
6 The theory of ___________ suggests that government can assist domestic competitors.
A. International dumping
B. Countervailing duties
C. Strategic trade policy
D. Export promotion policy
7 According to the cost based definition of dumping dumping occurs when a firm sets a product abroad at a price that is less than
A. Average total cost
B. Average variable cost
C. Average foxed cost
D. Marginal cost
8 Two commodities are considered to be perfect substitutes for each other if the elasticity of substitution is
A. Positive
B. Negative
C. Infinite
D. None of these
9 In the cost of slugger rises and slugger is major ingredient in jelly beans then the jelly bean.
A. Demand curve shifts to the left
B. Supply curve shifts to the left
C. Supply curve shifts to the right
D. Demand and supply curves both shift to the right
10 Through the world government tend o auction quota license to their highest bidder.
A. Always
B. Often
C. Seldom
D. Never

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