PPSC FPSC Lecturer Economics Online Test 21 Solved MCQs

Leave a Comment / By Hassan / June 26, 2021 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

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

Input(factors of production) and profit of the firm

All of the above

Revenue and cost of firm

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

2 / 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, equal to 0

Maximum, Greater than 0

Maximum, Less than 0

3 / 25

If elasticity is equal to infinity, Demand curve is:

Horizontal

Negatively sloped

Vertical

None of the above

4 / 25

Total expenditure of consumers in market is derived by:

Individual demand

Market demand

Both a & b

None of the above

5 / 25

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

None of the above

Decreasing, greater than 0

Decreasing, equal to 0

Decreasing, less than 0

6 / 25

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

Decreasing

Increasing

Constant

7 / 25

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

Reserve

Excess

Constant

None of the above

8 / 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, less than 0

Increasing, greater than 0

Increasing, equal to 0

9 / 25

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

Continuous

Limited

Perfect

10 / 25

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

None of the above

quantity sold and total expenditure

Quantity sold and quantity demanded

Quantity sold, price

11 / 25

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

Cross elasticity

Price Elasticity

None of the above

Income elasticity

12 / 25

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

Reserve Capacity

None of the above

Excess Capacity

Constant level of Capacity

13 / 25

Market demand is defined as:

Demand from elite class consumers

Individual demand

Demand from poor class consumer

Sum of individuals demand in the market

14 / 25

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

Continuous

Limited

Perfect

15 / 25

The Slope of the isoquant is called:

Both a & b

rate of technical substitution

Marginal product of labor and capital

None of the above

16 / 25

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

Land

Capital

Entrepreneurial-organizational

Labor

17 / 25

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

None of the above

Labor and Capital

Land and Capital

Land and Labor

18 / 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

19 / 25

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

One point

None of the above

a range

No point

20 / 25

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

Output, Input factors

Input factors, Output

Both a & b

None of the above

21 / 25

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

Marginal Revenue

Total Cost

Total Revenue

None of the above

22 / 25

If elasticity is equal to 1, Demand curve is:

Horizontal

Vertical

Negatively sloped

None of the above

23 / 25

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

Perfect

Limited

Continuous

24 / 25

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

Total cost

Marginal cost

Total revenue

Average revenue

25 / 25

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

Long-run

None of the above

Short-run

Both a & b

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