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

BATA's marginal utility per dollars is .8 for both shorts and running shoes,. To attain her consumer equilibrium BATA should.

Question # 2

Indifference curve has following characteristics except.

Question # 3

Law of variable proportion sis applicable in.

Question # 4

In contract to perfectly competitive markets monopolists

Question # 5

If the income elasticity of demand is +4

Question # 6

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

Question # 7

In perfect competition, a seller by increasing price.

Question # 8

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

Question # 9

An exceptional demand curve is.

Question # 10

If A is preferred to B and B is preferred to C and there is indifference between A and D

Question # 11

The ABC corporation.

Question # 12

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

Question # 13

If a firm which polluted the water of area had to pay all social cost would have

Question # 14

In Production of goods and services tradeoffs exist becasue.

Question # 15

The arc income elasticity of demand is approximately

Question # 16

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

Question # 17

A firm's total revenue is Rs. 4,500 when it sells 15 pairs of boots compared to Rs. 4,480 when it sells 14 pairs,. The marginal revenue of the 15th pair of boots is.

Question # 18

Firms entering a perfectly competitive market will cause the price of the product to

Question # 19

Indifference curve approach is also called.

Question # 20

In perfect competition the industry will be in equilibrium.

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 price elasticity of demand is teh same thing as the negative of the
A. Slope
B. Reciprocal of slope
C. The first derivative of the demand function
D. Reciprocal of slope times the ratio of price to quantity
2 Which of the following taxes is regressive
A. The federal income tax
B. The state income tax
C. The sales tax
D. The Medicare tax
3 A monopolistically competitive firm differs from a perfectly competitive firming that unlike the perfectly competitive firm it.
A. Faces a downward sloping demand curve
B. Can change the characteristics of its product.
C. Can vary the price of its product.
D. All of the above
4 The demand curve of unitary elastic commodity is.
A. Rectangular hyperbola
B. Parabola
C. Straight line
D. None of these
5 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
6 When the demand curve is a straight line the elasticity of demand at the center point will be.
A. Equal to zero
B. infinite
C. More than one
D. Equal to one
7 The average total cost when 20 units of output are produced is
A. Rs. 2,900
B. Rs.195
C. Rs. 20
D. Rs.900
8 When due to change in price of commodity x demand of commodity y is charged it is called.
A. Income elasticity
B. Price elasticity
C. More elastic
D. Cross elasticity
9 The price of salsa rises, How does the increase in the price of salsa affect the supply of salsa.
A. The supply of salsa increases
B. The supply of salsa decreases
C. There is no change to either the supply of salsa or the quantity supplied of salsa
D. There is no change to the supply of salsa but the quantity supplied of salsa increases
10 The demand curve for labor for a monopolist when other inputs are fixed is equal to its
A. Marginal value product curve
B. Marginal revenue product curve
C. Horizontal summation of the firms demand curve at different output prices
D. Marginal physical product curve

Test Questions