PPSC FPSC Lecturer Economics Online Test 21 Solved MCQs

Leave a Comment / By Hassan / June 26, 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 21
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. 21

1 / 25

Returns to scale refers to the .......................... analysis of laws of production:

None of the above

Short-run

Both a & b

Long-run

2 / 25

The relationship between marginal revenue and price is explained by the...........................of demand:

Cross elasticity

Income elasticity

None of the above

Price Elasticity

3 / 25

Law material bears ...................... relation to output at all level of production:

Increasing

Constant

Decreasing

4 / 25

Marginal revenue is defined as the change in ......................resulting in selling additional unit of commodity:

Total cost

Total revenue

Average revenue

Marginal cost

5 / 25

Modern cost theory introduces the concept of................... capacity:

Excess

None of the above

Reserve

Constant

6 / 25

Isoquant shows all possible combination of two factors of production ......................... and.................... to produce a given level of output:

Land and Labor

Labor and Capital

None of the above

Land and Capital

7 / 25

If price elasticity of demand is unitary elastic (e = 1), Slope of total revenue will be .................. and marginal revenue will be

None of the above

Maximum, Greater than 0

Maximum, equal to 0

Maximum, Less than 0

8 / 25

If elasticity is equal to infinity, Demand curve is:

Horizontal

Negatively sloped

None of the above

Vertical

9 / 25

Production function shows the technical relationship between .................and .....................

Input(factors of production) and profit of the firm

Revenue and cost of firm

Input(factors of production) and Output(produced goods)

All of the above

10 / 25

Excess Capacity implies that there is ................where firm can produce optimally:

None of the above

a range

One point

No point

11 / 25

The Slope of the isoquant is called:

rate of technical substitution

Marginal product of labor and capital

None of the above

Both a & b

12 / 25

Total expenditure of consumers in market is derived by:

None of the above

Both a & b

Individual demand

Market demand

13 / 25

Market demand is defined as:

Sum of individuals demand in the market

Individual demand

Demand from poor class consumer

Demand from elite class consumers

14 / 25

Linear isoquant shows the ........................... substitutability of factors of production:

Limited

Continuous

Perfect

15 / 25

If elasticity is equal to 1, Demand curve is:

None of the above

Horizontal

Negatively sloped

Vertical

16 / 25

kinked isoquant shows the ............................ substitutability of factors of production:

Limited

Continuous

Perfect

17 / 25

If price elasticity of demand is more elastic (e > 1), Slope of total revenue will be ................... and marginal revenue will .................................

None of the above

Increasing, equal to 0

Increasing, greater than 0

Increasing, less than 0

18 / 25

Input-Output isoquant shows the........................substitutability of factors of production:

Limited

Perfect

Continuous

19 / 25

The elasticity of substitution of factors is defined as the percentage change in .................... divided by the percentage change in .....................

capital-Labor ratio, rate of technical substitution

rate of technical substitution, capital-labor ratio

labor, capital

marginal product of labor, marginal product of capital

20 / 25

There is concept of ........................ in traditional Theory of Cost:

Constant level of Capacity

None of the above

Reserve Capacity

Excess Capacity

21 / 25

Marginal product is defined as the change in..................due to change in ......................

Both a & b

Output, Input factors

Input factors, Output

None of the above

22 / 25

Efficiency parameter in production function refers to the ............................ efficiency:

Land

Entrepreneurial-organizational

Capital

Labor

23 / 25

Total revenue of firm is obtained as the product of .................. and its ..............

Quantity sold and quantity demanded

quantity sold and total expenditure

None of the above

Quantity sold, price

24 / 25

If price elasticity of demand is less elastic (e < 1), Slope of total revenue will be ..................and marginal revenue will be:

Decreasing, greater than 0

Decreasing, less than 0

None of the above

Decreasing, equal to 0

25 / 25

Total expenditure of consumers of purchasing particular commodity is equal to the ............... of the firms selling the particular commodity:

Total Cost

Marginal Revenue

None of the above

Total Revenue

Your score is

The average score is 0%

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