PPSC FPSC Lecturer Economics Online Test 19 Solved MCQs

Leave a Comment / By Hassan / June 25, 2021

Given below on this Website Online Free Taleem is free online MCQ’s test related to PPSC of Lecturer Economics. All the individuals who are going to appear in PPSC Lecturer of Economics written test can attempt these tests in order to prepare for it in best possible way. Our tests include all the important questions MCQs of Lecturer of PPSC Economics, all Past Papers of Lecturer of Economics PPSC that have extremely high amount of chances for been included in the actual exam which make our test undoubtedly the best source of preparation.

Note:-

There will be 25 multiple choice question in the test.
Answer of the questions will change randomly each time you start this test.
Practice this test at least 5 times if you want to secure High Marks.
At the End of the Test you can see your Test score and Rating.
If you found any incorrect answer in Quiz. Simply click on the quiz title and comment below on that MCQ. So that I can update the incorrect answer on time.

Please Click Below START Button to Take this Lecturer Economics Test Online.

Test Instructions:-
Test Name	Lecturer Economics
Subject	Economics Test 19
Test Type	MCQs
Total Questions	25
Total Time	20 Minutes
Total Marks	100

You have 20 minutes to pass to the quiz.

PPSC LECTURER OF ECONOMICS ONLINE PRACTICE TEST NO. 19

1 / 25

Who introduced the concept of IC for the first time in 1881:

None of the above

Francis Edgeworth

Jhon Richard Hicks

Alfred Marshall

2 / 25

Consumer equilibrium in law of equi marginal utility of cardinal approach of consumer behaviour

All of the above

MUx/Px < MUy/Py

MUx/Px > MUy/Py

MUx/Px = MUy/Py

3 / 25

In cardinal Approach, Leon Walras had derived consumer demand curve for goods X from

Marginal Utility schedule of goods X

Total Utility schedule of goods X

All of the above

Cardinal Equilibrium approach

4 / 25

When price falls, marginal utility of money:

Decreases

Varies with time and situation

Increases

remains constant

5 / 25

Marginal utility is defined as:

The net change in total utility by consuming an additional unit of commodityNo change in total utility by consuming an additional unit of commodity

No change in total utility by consuming an additional unit of commodity

The net change in Marginal utility by consuming an additional unit of commodity

No change in Marginal utility by consuming an additional unit of commodity

6 / 25

When total utility falls, Marginal utility becomes:

Negative

Constant

Positive

Varies with time and situation

7 / 25

The slope of IC is called:

Both a & b

Marginal rate of technical substitution (MRTS)

Marginal rate of substitution (MRS)

None of the above

8 / 25

When total utility increases at decreasing rate, Marginal Utility

remains constant

Increases

Decreases

Varies with time and situation

9 / 25

Ordinal approach to consumer behavior implies that, utility cannot be measured:

Qualitatively

Quantitatively

None of the above

Both a & b

10 / 25

Cardinal Approach theory measures the utility:

Both a & b

Qualitatively

None of the above

Quantitatively

11 / 25

If MUx/Px = MUy/Py, the consumer will:

consume more items of goods X

consume more items of goods Y

consume more items of goods X and goods Y

Stop consuming, utility from both goods is maximized!

12 / 25

Ordinal Approach to consumer behavior is presented by ..............economist

Neo-Classicals

Modern

Classical

None of the above

13 / 25

What is law of diminishing marginal utility?

Marginal utility remains constant as we consume more and more of a commodity

Varies with time and situation

Marginal utility decreases as we consume more and more of a commodity.

Marginal utility increases as we consume more and more of a commodity

14 / 25

IC shows different combinations of two goods that yield:

All of the above

None of the above

Different levels of satisfaction

Same level of satisfaction

15 / 25

According to neo-classicals utility can be:

Measured Quantitatively

None of the above

Both a & b

Ranked Qualitatively

16 / 25

Ordinal Approach to consumer behavior is also known as:

All of the Above

Axiomatic approach to consumer behavior

Hicksian/neo-classicals approach to consumer behavior

Optimal Choice theory

Indifference curve theory

17 / 25

Sir Jhon Richard Hicks was a ........................... economist:

British and Modern

All of the above

British and neo-clasicals

British and Classicals

18 / 25

In cardinal Approach, Alfred Marshal had derived consumer demand curve from goods X from

Total Utility schedule of goods X

Marginal Utility schedule of goods X

None of the above

Cardinal Equilibrium approach

19 / 25

The convex IC shows the .................... marginal rate of substitution:

Diminishing

Increasing

Constant

None of the above

20 / 25

f MUx/Px > MUy/Py, the consumer will:

None of the above

consume more items of goods X

consume more items of goods X and goods Y

consume more items of goods Y

21 / 25

What is law of equi marginl utility?

When consumption of both goods yield same level of satisfaction

When consumption of both goods yield different level of satisfaction

None of the above

Both a & b

22 / 25

If MUx/Px < MUy/Py, the consumer will:

consume more items of goods Y

consume more items of goods X and goods Y

consume more items of goods X

Stop consuming

23 / 25

IC stands for:

Incomplete Curve

Indifference curve

All of the above

Independent Curve

24 / 25

Total utility increases at ....................................rate:

Increasing

Constant

Decreasing

Varies with time and situation

25 / 25

Marginal rate of substitution is defined as:

How many units of one commodity has to forego to get an additional unit of another commodity that gives different levels of satisfaction

Both a & b

How many units of one commodity has to forego to get an additional unit of another commodity that give same level of satisfaction

None of the above

Your score is

The average score is 0%

PPSC FPSC Lecturer Economics Online Test 19 Solved MCQs

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