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

Ordinal Approach to consumer behavior is also known as:

Axiomatic approach to consumer behavior

Indifference curve theory

Optimal Choice theory

Hicksian/neo-classicals approach to consumer behavior

All of the Above

2 / 25

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

MUx/Px = MUy/Py

All of the above

MUx/Px < MUy/Py

MUx/Px > MUy/Py

3 / 25

IC stands for:

Independent Curve

All of the above

Incomplete Curve

Indifference curve

4 / 25

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

consume more items of goods Y

consume more items of goods X

consume more items of goods X and goods Y

None of the above

5 / 25

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

None of the above

Modern

Classical

Neo-Classicals

6 / 25

Marginal rate of substitution is defined as:

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

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

None of the above

7 / 25

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

British and Classicals

British and neo-clasicals

British and Modern

All of the above

8 / 25

Marginal utility is defined as:

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

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

9 / 25

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

Total Utility schedule of goods X

All of the above

Cardinal Equilibrium approach

Marginal Utility schedule of goods X

10 / 25

According to neo-classicals utility can be:

Both a & b

None of the above

Measured Quantitatively

Ranked Qualitatively

11 / 25

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

None of the above

Cardinal Equilibrium approach

Total Utility schedule of goods X

Marginal Utility schedule of goods X

12 / 25

When total utility increases at decreasing rate, Marginal Utility

Varies with time and situation

Increases

remains constant

Decreases

13 / 25

What is law of equi marginl utility?

When consumption of both goods yield same level of satisfaction

Both a & b

None of the above

When consumption of both goods yield different level of satisfaction

14 / 25

When price falls, marginal utility of money:

Decreases

remains constant

Varies with time and situation

Increases

15 / 25

Cardinal Approach theory measures the utility:

Both a & b

Quantitatively

None of the above

Qualitatively

16 / 25

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

Jhon Richard Hicks

Francis Edgeworth

None of the above

Alfred Marshall

17 / 25

When total utility falls, Marginal utility becomes:

Positive

Constant

Negative

Varies with time and situation

18 / 25

IC shows different combinations of two goods that yield:

Same level of satisfaction

None of the above

Different levels of satisfaction

All of the above

19 / 25

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

Qualitatively

Quantitatively

Both a & b

None of the above

20 / 25

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

Increasing

None of the above

Constant

Diminishing

21 / 25

What is law of diminishing marginal utility?

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

Varies with time and situation

22 / 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

23 / 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

24 / 25

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

consume more items of goods X and goods Y

consume more items of goods X

Stop consuming, utility from both goods is maximized!

consume more items of goods Y

25 / 25

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

Decreasing

Varies with time and situation

Constant

Increasing

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