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

As long as the principle of diminishing marginal utility is operating any increased consumption of good.

Question # 2

Which of the following groups is most hurt by unexpected inflation.

Question # 3

A typical demand curve cannot be

Question # 4

"Treating an individual as typical of a group" in the definition of.

Question # 5

In the short run, the supply of farm commodities is.

Question # 6

The long run is a time period that is.

Question # 7

Firm A's annual profit is.

Question # 8

when there is huge change in demand following method is used to measure elasticity of demand.

Question # 9

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

Question # 10

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

Question # 11

The "Law of demand" most directly means that consumers buy

Question # 12

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

Question # 13

Short run is a time frame where a firm can change its.,

Question # 14

What is the production level for public good W, if the government uses full cost pricing.

Question # 15

Firm A's margin of safety is.

Question # 16

The largest source of tax revenue for the federal government is

Question # 17

Duopoly is a market situation when there is

Question # 18

Under perfect competition, the price system automatically result in efficient output selection when

Question # 19

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

Question # 20

The price of salsa rises, How does the increase in the price of salsa affect the supply of salsa.

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 are price elasticity of demand is approximately
A. 0.3
B. 3.3
C. 6.0
D. 0.2
2 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
3 If a good has a lot of substitutes, then its demand is.
A. Elastic
B. Inelastic
C. Unit elastic
D. Elastic or inelastic depending on whether the price is increasing or decreasing
4 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
5 In monopsony there is
A. Single seller
B. Two buyers
C. Single buyer
D. Few buyer
6 Which of the following will not be a determinant of the price elasticity of demand for a commodity.
A. The absence of substitute for the good.
B. The presence of substitutes for the good.
C. The importance of the commodity in consumers budgets
D. The cost of producing the commodity
7 The monopolization of the competitive market results in a deadweight loss to society of
A. RSJK
B. JKL
C. THJ
D. RSJL
8 A firm A's break even quantity is.
A. 10 units
B. 40 units
C. 50 units
D. 30 units
9 when there is huge change in demand following method is used to measure elasticity of demand.
A. Percentage method
B. Arc method
C. Point method
D. Other method
10 Which of the following would cause the demand curve for an input to shift.
A. A change in technology
B. A change in demand for the product being produced
C. An increase in the number of firms in the industry
D. All of the above

Test Questions