PPSC Lecturer Economics Test 12 Online Preparation MCQs

2 Comments / By Hassan / October 13, 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 12
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 Test 12

1 / 25

The quantity demanded (Qd) of a soft drink brand A has decreased. This could be because:

the price of rival brand B has increased

A’s consumers have had an increase in income

A’s advertising is not as effective as in the past

the price of A has increased

2 / 25

Capital, as economists use the term:

is money the firm raises from selling stock

is the money the fir m spends to hire resources

refers to the process by which resources are transformed into useful forms

Refer to things that have already been produced that are in turn used to produce other goods and services

3 / 25

When there is excess demand in an unregulated market, there is a tendency for:

price to fall

price to rise

quantity supplied to decrease

quantity demanded to increase

4 / 25

The concept of “interdependence of markets” can refer to the interdependence between:

all of the above

goods markets

two or more factor markets

goods and factor markets

5 / 25

What effect is working when the price of a good falls and consumers tend to buy it instead of other goods?

the income effect.

the substitution effect

the ceteris paribus effect

the total price effect.

6 / 25

The process by which resources are transformed into useful forms is:

production

allocation

capitalisation

consumption

7 / 25

The former Soviet Union was an example of:

free-market/capitalism

a planned economy

a mixed economy

dictatorship

8 / 25

Positive statements are:

statements in the affirmative

good statements

verifiable or testable

value judgments

9 / 25

The price of computer chips used in the manufacture of personal computers has fallen. This will lead to ..................... personal computers:

an increase in the supply of

an increase in the quantity supplied of

a decrease in the quantity supplied of

a decrease in the supply of

10 / 25

If the demand for coffee decreases as income decreases, coffee is:

a normal good

an inferior good

a substitute good

a complementary good

11 / 25

Periods of “less than full employment” of resources correspond to:

points outside the ppf

points on the ppf

points inside the ppf

either points inside or outside the ppf

12 / 25

The concept of choice would become irrelevant if:

scarcity were eliminated

we were dealing with a very simple, one-person economy

poverty were eliminated

capital were eliminated

13 / 25

Rational choice or rational decision-making involves:

weighing up m arginal costs and marginal benefits associated with a decision

weighing up total costs and total benefits associated with a decision

comparing the net benefit of a choice with the total net benefit foregone of all the alternatives combined

all of the above.

14 / 25

The 'law of demand' implies that:

as prices rise, quantity demanded increases

as prices rise, demand decreases

as prices fall, demand increases

as prices fall, quantity dem anded increases

15 / 25

Laborator y (or controlled) experiments cannot be performed in economics because:

of the difficulty of distinguishing between normative and positive statements

of resource scarcity

economics is a natural science

economics is a social science

16 / 25

Which of the following is not a resource as the term is used by economists?

money

labour

land

buildings

17 / 25

What lies is at the heart of the allocation of goods and services in a free-market economy?

The price mechanism.

The wishes of consumers in the market

Concerns of equity or equal distribution among individuals

The order or command of the ruling government or dictator

18 / 25

The PPF can be used to illustrate:

efficient, infeasible and inefficient production combinations

all of the above

the principle of opportunity costs and increasing opportunity costs

the distinction between micro and macroeconomics

19 / 25

A graph showing all the combinations of goods and services that can be produced if all of society's resources are used efficiently is a:

supply curve

production possibility frontier

demand curve

circular-flow diagram

20 / 25

Suppose the demand for good Z goes up when the price of good Y goes down. We can say that goods Z and Y are:

perfect substitutes

complements

substitutes

unrelated goods

21 / 25

The phrase 'ceteris paribus' is best expressed as:

there is no such thing as a free lunch

everything affects everything else

all else equal

scarcity is a fact of life

22 / 25

Which of the following is consistent with the law of supply?

As the price of calculators falls, the supply of calculators increases, ceteris paribus.

As the price of calculators rises, the quantity supplied of calculators decreases, ceteris paribus

As the price of calculators rises, the quantity supplied of calculators increases, ceteris paribus

As the price of calculators rises, the supply of calculators increases, ceteris paribus.

23 / 25

Opportunity cost, most broadly define, is:

what we forgo, or give up, when we make a choice or a decision

the additional cost of buying an additional unit of a product

the additional cost of producing an additional unit of output

a cost that cannot be avoided, regardless of what is done in the future

24 / 25

Which of the following will NOT cause a shift in the demand curve for compact discs?

a change in the price of compact discs

a change in income

a change in wealth

a change in the price of pre-recorded cassette tapes.

25 / 25

Demand curves in P-Q space are derived while holding constant:

incomes, tastes, and the prices of other goods

incomes, tastes, and the price of the good

incomes and tastes

consumer tastes and the prices of other goods

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2 thoughts on “PPSC Lecturer Economics Test 12 Online Preparation MCQs”

Hina
October 18, 2020 at 12:13 pm

Nice

Reply
1. gillani786
  October 18, 2020 at 12:16 pm
  
  Bhuat Shukria
  
  Reply

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