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

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PPSC Economics Topic 2 Micro Economics

00:00
Question # 1

Given a proportional income tax and a government budget that is currently in balance, an increase in autonomous investment ceteris paribus, Increases equilibrium income and the budget.

Question # 2

A monopolist will maximize profit.

Question # 3

In perfect competition price is settled by

Question # 4

When economists say that a per son is economizing they mean that the person is.

Question # 5

When due to change in price of commodity x demand of commodity y is charged it is called.

Question # 6

When Daimler Benz maker of the Mercedes bought Chrysler the merger was

Question # 7

Skills that embodied in a person are called.

Question # 8

As the opportunity cost of a good falls, ceteris paribus the substitution effect implies that people buy

Question # 9

A monopoly there is

Question # 10

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

Question # 11

The tax is question 52 is

Question # 12

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

Question # 13

Indifference curve is alwyas.

Question # 14

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

Question # 15

Price discrimination is possible

Question # 16

The exit of firms out of a competitive market causes the supply curve to.

Question # 17

A demand curve shows that relation between price and demand.

Question # 18

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

Question # 19

An economy that falls to realize all of its p9otential gains from specialization is.

Question # 20

The firms average variable cost of the 150th unit is.

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PPSC Economics Chapter 2 Important MCQ's

Sr.# Question Answer
1 The tax is question 52 is
A. Progressive's
B. Regressive
C. Proportional
D. None of these
2 A demand curve shows that relation between price and demand.
A. Positive
B. Negative
C. Zero
D. Very strong
3 The "Law of demand" most directly means that consumers buy
A. More of a good the higher their incomes, ceteris paribus.
B. Less of good the higher its price ceteris paribus
C. Buy more of a good the less is its supply ceteris paribus
D. Buy less of a good the greater is its supply ceteris paribus
4 If X , Y, and Z are willing to work for Rs. 4, Rs, 5, and Rs.6 respectively but N pays them Rs. 7 each, producers surplus is.
A. Rs. 4
B. Rs.7
C. Rs.5
D. Rs.6
5 Average fixed cost
A. Is U shaped
B. Declines over the entire output range.
C. Is a long run concept only
D. Is influenced by diminishing returns to production
6 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
7 Indifference curve approach is also called.
A. Law of diminishing marginal utility
B. Law of substitution
C. Ordinal measure approach
D. None of these
8 What is the per unit marginal cost of increasing production from 20 to 25 units.
A. Rs. 3,500
B. Rs.100
C. Rs.4,000
D. Rs.500
9 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
10 Perfect competition implies
A. Homogeneous goods
B. Inferior goods
C. Superiors goods
D. Differential goods

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