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

Skills that embodied in a person are called.

Question # 2

Some goods are not closely related to each other and are neither substitutes nor complements for such goods the cross price elasticity of demand would be.

Question # 3

A price decrease and an increase in income are similar in that

Question # 4

If average fixed cost is 40 and average variable cost is 80 for a given output we the know that average total cost is.

Question # 5

A long-run total cost curve can be constructed from

Question # 6

Extension and contraction of demand mean

Question # 7

Given the above demand and supply equations for widgets, the equilibrium price and quantity is.

Question # 8

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

Question # 9

As disposable income increases from Rs. 1500 to 2000 , saving increases from minus Rs. 50 to Rs.250 if the relationship between disposable income and saving is linear, the MPC obviously has a value of.

Question # 10

Firm A's margin of safety is.

Question # 11

The price of Ketchup at a market increases by 12.5% per can, which results in a decrease in quantity purchased by 40% per week, the demand is.

Question # 12

A monopsony is

Question # 13

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

Question # 14

Firms in monopolistic competition compete on

Question # 15

Which of the following is correct for the demand and supply schedules given above.

Question # 16

Allocative efficiency is achieved under which of the following market structures.

Question # 17

The long run is a time period that is.

Question # 18

Law of demand is not applicable on

Question # 19

If a monopoly is unable to cover its short run variable costs, if should.

Question # 20

Suppose taht an exise tax is imposed on the monopolist's product if the monopolist's marginal cost is horizontally the relevant range, which of the following statements must be true.

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 Finance minister tax a commodity
A. having elastic demand
B. ignore elasticity
C. Having unti elastic demand
D. Having unit elastic demand
2 The quantity of Y demanded increases by 6% when income changes, and income elasticity of demand is -0.9 income
A. Decreased by 5.4 %
B. Decreases by 8%
C. Increased by 15%
D. Decreased by 6.7 %
3 A production possibilities curve indicates that when resources are being used efficiently
A. More of one good cna be produced only if less of another good is produced
B. More of one good can be produced only if its price is lowered
C. Producing more of one good result in greater production of other goods
D. More of one good can be product without producing less of other goods
4 Which of the policies in the table above an increase in social welfare according to pareto efficiency.
A. Policy A
B. Polies A and B
C. Policies A and D
D. Policies C a, -d D
5 The most important determinant of price elasticity is.
A. The slope of the demand curve
B. The availability of substitutes
C. The price of other goods
D. The income of the consumer
6 If there is no price surprise, total output is.
A. 50
B. 150
C. 400
D. 200
7 The demand curve of unitary elastic commodity is.
A. Rectangular hyperbola
B. Parabola
C. Straight line
D. None of these
8 A linear homogenous production function would reveal.
A. Constant returns to scale
B. Increasing returns to scale
C. Decreasing return to scale
D. Doubling all inputs would more than double output
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 In monopoly the firm can
A. Price
B. Output
C. Either price or output
D. Both a and b

Test Questions

Share your comments & questions here

Guest

  • No comments yet. Be the first to comment!