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

00:00
Question # 1

When the price of a pizza decreased from 1200 Rupees to 1000 Rupees, it is definitely the case that the.

Question # 2

In the long run a profit maximizing firm will choose to exit a market when

Question # 3

Indifference curve theory is old wine in new labeled bottle is said by.

Question # 4

The supply curve of a perfectly competitive firm

Question # 5

The long run is a time period that is.

Question # 6

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

Question # 7

Price discrimination occurs when

Question # 8

In a perfectly competitive market if firms are earning an economic profit the economic profit.

Question # 9

An entrepreneur who collects profits in the short run for a new invention is collecting.

Question # 10

If a good has a lot of substitutes, then its demand is.

Question # 11

BATA's marginal utility per dollars is .8 for both shorts and running shoes,. To attain her consumer equilibrium BATA should.

Question # 12

An indifference curve shows various combinations to goods Which gives the consumer.

Question # 13

If the price of an apple increased from 50 to 60 the quantity demanded will decrease because of.

Question # 14

Labour has the following characteristics accept one.

Question # 15

Which of the following is a function of money

Question # 16

A monopolistically competitive firm differs from a perfectly competitive firming that unlike the perfectly competitive firm it.

Question # 17

An increase in the discount rate at the FED generally has the following effect on bond prices.

Question # 18

The key feature of oligopoly is.

Question # 19

Price discrimination is possible

Question # 20

The demand curve of unitary elastic commodity is.

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PPSC Economics Chapter 2 Important MCQ's

Sr.# Question Answer
1 The average total cost when 20 units of output are produced is
A. Rs. 2,900
B. Rs.195
C. Rs. 20
D. Rs.900
2 "Principles of economics" is the book of
A. Robbins
B. Adam smith
C. Hicks
D. Marshall
3 To maximize revenue, an excise tax should be imposed on a product
A. That has a highly elastic demand curve
B. Such as St. Joseph's children's' aspirin.
C. Such as salt
D. such as Toyota automobiles
4 The total utility of the third unit of product x is.
A. 10
B. 5
C. 23
D. 38
5 The "compensated" demand curve is the demand curve that.
A. Shows only the income effect
B. Shows only the substitution effect
C. Shows both the income and substitution effects
D. Shows the Geffen good demand curve
6 in monopolistic competition the firms desire to sell more output at the equilibrium because.
A. Price is more than marginal cost
B. Price is less than marginal cost
C. Price is less than average cost
D. Price more than average cost
7 Immediately after a through we would expect to have al
A. Peak
B. Recession
C. Recovery
D. Another trough
8 The income elasticity of inferior goods is
A. Zero
B. Positive
C. Negative
D. Unitary
9 If average variable cos tis less then marginal cost then certainly.
A. Per unit total cost is rising
B. Per unit total cost is constant
C. Per unit total cost is falling
D. Per unit variable cost is rising
10 The Isoquant curve shows different combinations of two factors of production which give the producer.
A. Different level of output
B. High level of output
C. low level of output
D. Same level of output

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