PPSC Lecturer Economics Test 1 Online Preparation MCQs

1 Comment / By Hassan / September 5, 2020

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 1
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 Practice Test 1

1 / 25

To determine the correct level of GNP, it is necessary to:

add up all savings

to add up the value of semi finished goods

to add up the values of goods and services during one year.

to count all imports

2 / 25

The four factor payment are:

Money, power, preset age, and wealth

Wages, rent, interest and profits

Money, capital, salaries and income

Wages, interest, salaries, and income

3 / 25

Economics laws are:

Definite

Brief

Exact

Approximate

4 / 25

Which statement is true:

National Expenditure= National income+ National Taxes

National Expenditure= National income+ National production

National Expenditure= National income- Taxes

National expenditure= National income

5 / 25

. The fundamental economic problem faced by all societies is:

poverty

scarcity

unemployment

inequality

6 / 25

He described economics as science of material:

Richardo

Robbins

Marshall

Kennes

7 / 25

"Capitalism" refers to:

the use of markets

government ownership of capital goods

private ownership of homes & cars

private ownership of capital goods

8 / 25

Economics is a science:

Unreal

Scientific

Natural

Moral

9 / 25

We measure national income by this method:

Expenditure method

all of the above

product method

income method

10 / 25

GNP is always:

Any of a, b, c

less then NNP

Equal to NNP

Grater then NNP

11 / 25

You have taken this quiz and received a grade of 3 out of a possible 10 points (F). You are allowed to take a second version of this quiz. If you score 7 or more, you can raise your score to a 7 (C). You will need to study for the second version. In making a rational decision as to whether or not to retake the test, you should:

always retake the quiz

consider only the marginal opportunity costs from taking the quiz (the time spent studying and taking the quiz)

consider both the marginal benefits and the marginal opportunity costs of retaking the quiz

consider only the marginal benefits from of retaking the quiz (four extra points)

12 / 25

The bowed shape of the production possibilities curve illustrates:

that production is inefficient

the law of increasing marginal cost

that production is unattainable

the demand is relatively inelastic

13 / 25

If we compare GDP and GNP, then:

GNP= GDP+ net income from abroad

GNP= NNP+ net income from abroad

GNP= GDP- net income from abroad

GNP= NNP- net income from abroad

14 / 25

Transfer payment means:

Text payments

Payments made to all factors of production

Bank loans

The payment without work

15 / 25

Economics laws are:

Unreal

Moral

Scientific

Natural

16 / 25

Economics problems arise because of:

Greed

Dishonesty

Laziness

Scarcity

17 / 25

Which statement relates to macroeconomics?

Oil prices are rising in Pakistan

Profit rate is high in textile industry

The firms try to make huge profits

The government has failed to control inflation

18 / 25

Choose the correct one:

Marshall

Samuelson

Malthus

Adam Smith

19 / 25

The demand for a product would be more inelastic:

all of the above

the greater is the time under consideration

the less expensive is the product in relation to incomes

the greater is the number of substitutes available to buyers

20 / 25

There are three fundamental questions every society must answer. Which of the following is/are one of these questions?

All of the above

How are the goods and services to be produced?

What goods and services are to be produced?

Who will get the goods and services that are produced?

21 / 25

If you were working full-time now, you could earn $20,000 per year. Instead, you are working part-time while going to school. In your current part-time job, you earn $5,000 per year. At your school, the annual cost of tuition, books, and other fees is $2,000. The opportunity cost of completing your education is:

$17,000

$5,000

$2,000

$20,000

$22,000

22 / 25

Which statement is true? (Only one answer is true):

Economics is a social and natural science

Economics is a physical and normative science

Economics is a social and normative science

Economics is physical and positive science

23 / 25

The price elasticity of demand is the:

percentage change in quantity demanded divided by the percentage change in quantity supplied

percentage change in price divided by the percentage change in quantity demanded

dollar change in quantity demanded divided by the dollar change in price

percentage change in quantity demanded divided by the percentage change in price

24 / 25

The law of demand states that:

as supply rises, the demand rises

as the price rises, the quantity demanded rises

as the price rises, the quantity demanded falls

as the quantity demanded rises, the price rises

25 / 25

Community Colleges desired to increase revenues. They decided to raise fees paid by students with Bachelors degrees to $50 per unit because they believed this would result in greater revenues. But in reality, total revenues fell. Therefore, the demand for Community College courses by people with Bachelors degrees must have actually been:

unit elastic

relatively inelastic

relatively elastic

perfectly elastic

Your score is

The average score is 72%