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

  • Total Questions20

  • Time Allowed20

PPSC Economics Topic 2 Micro Economics

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Question # 1

An -increase the expected future price of a good.

Question # 2

The classical are of the view that utility can be.

Question # 3

Oligopoly is a market structure in which

Question # 4

An exceptional demand curve is.

Question # 5

A monopoly market.

Question # 6

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

Question # 7

Price discrimination is possible

Question # 8

In perfect competition, a seller by increasing price.

Question # 9

The tax is question 52 is

Question # 10

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 # 11

When the quantity demanded is changed on the same price

Question # 12

If the income elasticity of demand is +4

Question # 13

Which of the following does not characterize monopolistic competition.

Question # 14

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

Question # 15

Last week, Martha spend one day cleaning a house for this she was paid $50 The rest of the week, she spend looking for a job Martha would be callsified as.

Question # 16

The largest source of tax revenue for the federal government is

Question # 17

A profit maximizing monopolist in two separate markets will

Question # 18

A combination labour and capital where the cost of an output is minimized is called.

Question # 19

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

Question # 20

In substitution effect a consumer

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


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PPSC Economics Chapter 2 Important MCQ's

Sr.# Question Answer
1 When Daimler Benz maker of the Mercedes bought Chrysler the merger was
A. Horizontal
B. Vertical
C. Conglomerate
D. None of these
2 A price decrease and an increase in income are similar in that
A. Both force the consumer to achieve a lower level of well being
B. Both force the consumer to reach a lower indifference curve
C. Both move the budget line outward
D. They are not similar at all
3 The market demand for a product is found by
A. Horizontally summing the individual demand curves
B. Vertically summing the induvial demand curves
C. Both horizontally and vertically summing the individual demand curve.
D. None of the above
4 Naveed purchases product M for which his income elasticity of demand is negative Apparently product M is.
A. A necessity
B. An independent good
C. An inferior good
D. A luxury good
5 If the income elasticity of demand is +4
A. The good is an inferior good
B. The good is an inelastic normal good
C. The good is an elastic normal good
D. the good is an elastic inferior good
6 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
7 Holding all other things constant a higher price for ski lift tickets would.
A. Increase the number of skiers
B. Increase the price of skis
C. Decrease the number of skis sold
D. Decrease the demand for other winter recreational activities
8 In perfect competition, a seller by increasing price.
A. Sell more
B. Produce its revenue
C. Decrease cost
D. Sell nothing
9 the ouput where diminishing return to production begin is also the ouput where
A. Marginal cost is at a minimum.
B. Average total cost is at a minimum
C. Average variable cost is at a minimum
D. Marginal and average
10 A negatively sloped isoquant implies
A. Products with negative marginal utilities
B. Products with positive marginal utilities
C. Inputs with negative marginal products
D. Inputs with positive marginal products

Test Questions

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