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

The demand for labor slopes down and to the right because of.

Question # 2

In the neighborhood of the long run equilibrium of a monopolistically competitive firm average cost will be.

Question # 3

Indifference curve approach is also called.

Question # 4

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

Question # 5

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

Question # 6

If a monopolist's demand curve is downward sloping and linear, then its total revenue curve must be.

Question # 7

The average total cost of a wedge increases from Rs. 0.79 ro Rs. 0.83 Evidently

Question # 8

Which of the following does not characterize monopolistic competition.

Question # 9

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

Question # 10

Economic growth is shown on the production possibility frontier as.

Question # 11

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

Question # 12

A firm charges Rs. 800 for its unique word processor. If total revenue is Rs. 56,000 in July, how many word processor were sold that month.

Question # 13

A production function for a firm which produces a product with two or more inputs.

Question # 14

If the production function is Q = 8 KL the marginal rate of technical substitution of labor for capital is.

Question # 15

Which of the following is a function of money

Question # 16

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

Question # 17

Skills that embodied in a person are called.

Question # 18

The conditions necessary for a firm to be able to price discriminate include.

Question # 19

When there is a surplus in a market

Question # 20

If there is no price surprise, total output 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 In pure monopoly there is.
A. A lot of firms
B. Two firms
C. A single firm
D. Many firms
2 In monopolistic competition firm sell
A. Same goods
B. Differential goods
C. Inferior goods
D. Superior goods
3 Which of the following is a characteristic of monopolistic competition.
A. One seller serving the entire market
B. When each firm sells an identical product
C. When firms do not compete on a product quality price and marketing
D. When firms are free is enter and exit the market
4 Marginal cost is the change is cost the result from a one unit increase in.
A. Price
B. Cost
C. Output
D. Revenue
5 Oligopoly is a market structure in which
A. Many firms each produce a slightly differentiated product
B. One firm produces as unique product
C. A small number of firms compete
D. Many firms produce an identical product
6 Company A estimates the price elasticity of demand for its products.3.0 The price of the product is Rs. 15. If MC = 2+40, the profit maximizing level of output.
A. 4 units
B. 2 umits
C. 5 units
D. 3 units
7 A firm that is a price taker faces a perfectly
A. Elastic supply curve
B. Inelastic demand curve
C. Elastic demand curve
D. In elastic supply curve
8 In Production of goods and services tradeoffs exist becasue.
A. Buyers and sellers often negotiate prices
B. Society has only a limited amount of productive resources
C. Not all production is efficient
D. Human wants and needs are limited at a particular point in time
9 Ti access internet services consumers must use a computer if computer prices fall, what is the effect on the demand for internet services.
A. The demand for internet services increases.
B. The demand for internet services decreases
C. The demand for internet services does not change
D. The demand for internet services could increase, decrese, or stay the same depending on other factors.
10 When the quantity demanded is changed on the same price
A. the demand curve shifts upward
B. The demand curve shifts downward
C. Movement on the same demand curve
D. None of these

Test Questions