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

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

Total Utility schedule of goods X

Cardinal Equilibrium approach

Marginal Utility schedule of goods X

All of the above

2 / 25

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

Total Utility schedule of goods X

Cardinal Equilibrium approach

Marginal Utility schedule of goods X

None of the above

3 / 25

The slope of IC is called:

None of the above

Marginal rate of substitution (MRS)

Marginal rate of technical substitution (MRTS)

Both a & b

4 / 25

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

None of the above

Qualitatively

Quantitatively

Both a & b

5 / 25

Ordinal Approach to consumer behavior is also known as:

All of the Above

Hicksian/neo-classicals approach to consumer behavior

Axiomatic approach to consumer behavior

Indifference curve theory

Optimal Choice theory

6 / 25

IC shows different combinations of two goods that yield:

Different levels of satisfaction

All of the above

None of the above

Same level of satisfaction

7 / 25

What is law of diminishing marginal utility?

Varies with time and situation

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

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

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

8 / 25

What is law of equi marginl utility?

None of the above

When consumption of both goods yield different level of satisfaction

Both a & b

When consumption of both goods yield same level of satisfaction

9 / 25

Marginal utility is defined as:

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

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

10 / 25

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

consume more items of goods X

consume more items of goods Y

Stop consuming

consume more items of goods X and goods Y

11 / 25

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

None of the above

Francis Edgeworth

Jhon Richard Hicks

Alfred Marshall

12 / 25

Cardinal Approach theory measures the utility:

Both a & b

None of the above

Quantitatively

Qualitatively

13 / 25

When price falls, marginal utility of money:

remains constant

Increases

Varies with time and situation

Decreases

14 / 25

IC stands for:

Indifference curve

Independent Curve

Incomplete Curve

All of the above

15 / 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

16 / 25

According to neo-classicals utility can be:

Ranked Qualitatively

Measured Quantitatively

Both a & b

None of the above

17 / 25

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

Increasing

Constant

Decreasing

Varies with time and situation

18 / 25

When total utility increases at decreasing rate, Marginal Utility

Varies with time and situation

Increases

remains constant

Decreases

19 / 25

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

Classical

Modern

None of the above

Neo-Classicals

20 / 25

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

Diminishing

Constant

None of the above

Increasing

21 / 25

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

consume more items of goods X and goods Y

consume more items of goods X

consume more items of goods Y

Stop consuming, utility from both goods is maximized!

22 / 25

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

British and Classicals

British and Modern

British and neo-clasicals

All of the above

23 / 25

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

consume more items of goods Y

consume more items of goods X

None of the above

consume more items of goods X and goods Y

24 / 25

When total utility falls, Marginal utility becomes:

Positive

Constant

Negative

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 give same level of satisfaction

None of the above

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

Your score is

The average score is 0%

PPSC FPSC Lecturer Economics Online Test 19 Solved MCQs

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