PPSC Economics Topic 2 MCQS Test Preparation

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MCQ's Test For PPSC Economics Topic 2 Micro Economics

Try The MCQ's Test For PPSC Economics Topic 2 Micro Economics

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PPSC Economics Topic 2 Micro Economics

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Question # 1

An income demanded curve of an inferior good is.

Question # 2

When the demand curve is a straight line the elasticity of demand at the center point will be.

Question # 3

The "Law of demand" states that other things remaining the same the quantity demanded of any good is.

Question # 4

"Principles of economics" is the book of

Question # 5

Because a monopoly hires workers up to the point where their marginal revenue product equals the wage rate the monopoly will.

Question # 6

The negative slope of the demand curve indicates that there is _______ relationship between the price and the quantity demanded.

Question # 7

The income elasticity of demand

Question # 8

In order to practice price discrimination which of the following is needed.

Question # 9

change in quantity demanded

Question # 10

The classical are of the view that utility can be.

Question # 11

The fundamental reason people must choose which goods to buy and consume is because of.

Question # 12

If X , Y, and Z are willing to work for Rs. 4, Rs, 5, and Rs.6 respectively but N pays them Rs. 7 each, producers surplus is.

Question # 13

As disposable income increases from Rs. 1500 to 2000 , saving increases from minus Rs. 50 to Rs.250 if the relationship between disposable income and saving is linear, the MPC obviously has a value of.

Question # 14

Which of the following is a characteristics of monopolistic competition.

Question # 15

The supply curve of a monopolist is always.

Question # 16

Ti access internet services consumers must use a computer if computer prices fall, what is the effect on the demand for internet services.

Question # 17

A profit maximizing monopolist in two separate markets will

Question # 18

In monopolistic competition, firms desire to sell more output at equilibrium because.

Question # 19

Oligopoly is a market structure in which

Question # 20

To maximize revenue, an excise tax should be imposed on a product

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PPSC Economics Chapter 2 Important MCQ's

Sr.# Question Answer
1 The same graph shows that the firm order to maximize profits , should produce.
A. 30 units charges a price of Rs. 16
B. 20 Units and charge a price of Rs. 22
C. 35 Units and charge a price of Rs. 12
D. 38 units and charge a price or Rs. 10
2 An indifference curve shows various combinations to goods Which gives the consumer.
A. Equal level of utility
B. Low level of utility
C. High level of utility
D. None of these
3 In long run equilibrium a monopolistically competitive firm will find.
A. Marginal cost below average total cost
B. Marginal cost wqual to minimum average total cost
C. Both a and b
D. Neither a nor b
4 One of the following has more elastic demand.
A. A commodity with substitutes
B. A commodity having more than one use
C. A commodity commonly use
D. None of these
5 An -increase the expected future price of a good.
A. Increases its demand
B. Decreases its demand
C. Increases its supply
D. Has no effect on either its demand or its supply.
6 Which of the following is correct with respect to the Paasche index.
A. The consumer Price index is an example of the Paasche index.
B. The Paasche index is biased upward
C. The Passche index always exceeds 1
D. The Paasche index uses given period quantities
7 In pure monopoly there is.
A. A lot of firms
B. Two firms
C. A single firm
D. Many firms
8 Indifference curve has following characteristics except.
A. Convex to origin
B. Intersect each other
C. Not necessary to be parallel
D. None of these
9 Allocative efficiency is achieved under which of the following market structures.
A. Perfect competition
B. Monopolistic competition
C. Oligopoly
D. Monopoly
10 Skills that embodied in a person are called.
A. Human capital
B. Embodied skills
C. Physical capital
D. Experience skills

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