PPSC Economics Topic 2 MCQS Test Preparation

Today attempting the PPSC test is not as much challenge as the candidates think. The reason behind it is that today we find a number of sources and helping content to cover the examination preparation of PPSC. Ilmkidunya is known as one of the major sources of education where students can find potential solutions at every single level of education. Here we come with the PPSC test preparation. Students are provided the Topic wise PPSC online tests. These tests are comprised of the questions that are important for the Economics PPSC test. Here at this page, the team of Ilmkidunya offers the PPSC online test of Economics subject Topic 2. Once after clicking the start test button, you will be directed towards the test and you will find 20 minutes to cover the test.

MCQ's Test For PPSC Economics Topic 2 Micro Economics

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

  • Total Questions20

  • Time Allowed20

Start Test Download PDF

PPSC Economics Topic 2 Micro Economics

00:00
Question # 1

When the marginal physical product of labor is 800 - 2N , the price of goods is Rs. 2, and the cost of labor is Rs. 4 per unit, the quantity of labor employed is.

Question # 2

The ABC corporation.

Question # 3

If A is preferred to B and B is preferred to C and there is indifference between A and D

Question # 4

The short term interest rates on bonds over the next 5 years is 6% , 7%, 9% ,10% and 8% according to the expectations Hypothesis, the interest rates on bonds with 5 years to maturity will be.

Question # 5

A price cross elasticity of 0.81 between X and Y shows that.

Question # 6

A linear homogenous production function would reveal.

Question # 7

If both supply and demand for a good increase at the same time which of the following must also increase

Question # 8

An exceptional demand curve is.

Question # 9

change in quantity demanded

Question # 10

The most important determinant of price elasticity is.

Question # 11

The Marginal cost of product W exhibiting positive externalities is McW = 25 + 5 Qs, the competitive price for each unit of W (Pw) is Rs. 175 and the positive externality is worth Rs. 100 to society for each unit produced. Society considers product W under produced by how many units.

Question # 12

If a good is normal then the demand curve for that good must be.

Question # 13

The average total cost when 20 units of output are produced is

Question # 14

Indifference curve is alwyas.

Question # 15

At level of income and output of 100 in the diagram above

Question # 16

For commodities, X and Y, the possibilities are X is preferred to Y , Y is preferred to X or X and Y are equally preferred, In indifference curve analysis, this is known as the.

Question # 17

The quantity of Y demanded increases by 6% when income changes, and income elasticity of demand is -0.9 income

Question # 18

In case of complimentary goods, if the price of one commodity falls there will be.

Question # 19

A demand curve that is an equilateral hyperbola is.

Question # 20

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

Submit

Prepare Complete Set Wise PPSC Economics Topic 2 Micro Economics MCQs Online With Answers


Topic Test

00:00
Submit

Top Scorers Of PPSC Economics Topic 2 Micro Economics MCQ`s Test

  • A
    Amjad Ali 07 - Jun - 2023 14 Min 16 Sec 15/20
  • A
    Atiq Ur Rahman 16 - Jun - 2023 12 Min 02 Sec 14/20
  • Z
    zaheer hussain 16 - Jan - 2024 16 Min 56 Sec 14/20
  • M
    Mishal Maryam 08 - Oct - 2023 04 Min 07 Sec 13/20
  • B
    BAKHT ZAMIN 21 - Jun - 2023 09 Min 05 Sec 13/20
  • M
    Muhammad Sajjad 20 - Jan - 2025 13 Min 13 Sec 13/20
  • H
    Hassam Shahid 30 - Jun - 2024 05 Min 57 Sec 12/20
  • S
    Sulsabeel Akhtar 07 - Jun - 2024 06 Min 32 Sec 12/20
  • M
    Murtaza Gillani 12 - Jul - 2024 07 Min 19 Sec 12/20
  • T
    Tahir Nawaz 10 - Jan - 2024 07 Min 43 Sec 11/20
  • H
    Hashim Saleem 26 - May - 2024 10 Min 05 Sec 11/20
  • M
    mehmad khalid 02 - Jun - 2024 16 Min 01 Sec 11/20
  • E
    Ejaz Ahmad 12 - Jan - 2024 11 Min 05 Sec 10/20
  • S
    Shad Ali Shah 27 - Jul - 2024 12 Min 36 Sec 10/20
  • H
    Hamadullah Jan 13 - Jun - 2023 02 Min 19 Sec 9/20

PPSC Economics Chapter 2 Important MCQ's

Sr.# Question Answer
1 The demand for labor slopes down and to the right because of.
A. The law of demand
B. The iron law of wages
C. The law of diminishing marginal returns
D. Economies of scale
2 The classical are of the view that utility can be.
A. Ranked
B. Counted
C. Expressed in numbers
D. Not counted
3 The arc income elasticity of demand is approximately
A. 0.02
B. 1.9
C. 3.3
D. 0.5
4 A monopoly market.
A. Generally falls to maximize total economic well being.
B. Always maximizes total economic well being.
C. always minimizes consumers surplus
D. Generally falls to maximum produce surplus
5 The negative slope of the demand curve indicates that there is _______ relationship between the price and the quantity demanded.
A. A direct
B. An inverse
C. A positive
D. No relationship
6 When a tax is levied on a good.
A. The market price falls because demand declines.
B. The market price falls because supply falls.
C. A wedge is placed between the price buyers pay and the price sellers receive
D. The market price rises because demand falls.
7 When goods are compliments the cross demand curve
A. Upward to the right
B. Backward to bottom
C. Inwards to the right
D. Downwards to right
8 In the short run no firm operates with a loss unless
A. Variable cost equals fixed cost
B. Variable cost falls short of fixed cost
C. Total revenue covers variable costs
D. Total revenue covers fixed cost
9 The supply curve of a monopolist is always.
A. More elastic
B. Less elastic
C. undefined
D. Steeper
10 If there are 50 firms in a industry each selling 2% of the total sales the concentration ratio is.
A. 50%
B. 2%
C. 8%
D. 100%

Test Questions