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

Given a proportional income tax and a government budget that is currently in balance, an increase in autonomous investment ceteris paribus, Increases equilibrium income and the budget.

Question # 2

The statement that marginal cost = marginal revenue leads to profit maximization of loss minimization is true.

Question # 3

The long run is a time period that is.

Question # 4

If the income elasticity of demand is +4

Question # 5

The tax is question 52 is

Question # 6

The epigram "time is money" expresses , in part, the concept of.

Question # 7

The most important determinant of price elasticity is.

Question # 8

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

Question # 9

The marginal rate of substitution for two goods can be obtained from

Question # 10

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

Question # 11

In capitalistic economy price is determined by

Question # 12

The law of diminishing marginal returns to a factor of production is.

Question # 13

If the price of an apple increases.

Question # 14

The ABC corporation.

Question # 15

Indifference curve is alwyas.

Question # 16

If the monopolist maximizes profits when marginal revenue equals marginal cost equals average cost economic profits must be.

Question # 17

A market demand curve can be derived by adding all the individual demand curves

Question # 18

Duopoly is a market situation when there is

Question # 19

In perfect competition, a seller by increasing price.

Question # 20

In price discrimination, which section of the market is charged the higher price.

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 In a typical cartel agreement the cartel maximizes profit when it.
A. Behaves like a monopoly
B. Behaves like a perfectly competitive firm
C. Behaves like a duopoly
D. Is flexible in enforcing production targets
2 Indifference curve theory is old wine in new labeled bottle is said by.
A. Marshall
B. Griffin
C. Ricardo
D. Allen
3 One of the difference between a perfectly competitive fir's long run equilibrium and the long run equilibrium of a monopolistically competitive firm is that
A. LMS = MR under perfect competition but not under monopolistic competition
B. SAC = LAC under perfect competition but not under monopolistic competition
C. SMC = LMC under perfect competition but not under monopolistic competition
D. LAC = LMC under perfect competition, but not under monopolistic competition
4 Skills that embodied in a person are called.
A. Human capital
B. Embodied skills
C. Physical capital
D. Experience skills
5 A situation in which firms choose their best strategy given the strategies chosen by the other firms in the market is called.
A. a competitive equilibrium
B. An open market solution
C. The Nash equilibrium
D. The cartel equilibrium
6 In the neighborhood of the long run equilibrium of a monopolistically competitive firm average cost will be.
A. Decreasing
B. Constant
C. Increasing
D. At a minimum
7 In monopolistic competition firm sell
A. Same goods
B. Differential goods
C. Inferior goods
D. Superior goods
8 Law of demand is not applicable on
A. Daily goods
B. Scarce goods
C. Consumer goods
D. Producer goods
9 Law of variable proportion is also called.
A. Law of non proportion returns
B. Law of substitution
C. Law of casts
D. Law of demand
10 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

Test Questions