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

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

points on the ppf

either points inside or outside the ppf

points outside the ppf

points inside the ppf

2 / 25

The former Soviet Union was an example of:

a planned economy

dictatorship

a mixed economy

free-market/capitalism

3 / 25

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

incomes and tastes

incomes, tastes, and the price of the good

consumer tastes and the prices of other goods

incomes, tastes, and the prices of other goods

4 / 25

Positive statements are:

verifiable or testable

statements in the affirmative

good statements

value judgments

5 / 25

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

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

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

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

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

6 / 25

The concept of choice would become irrelevant if:

scarcity were eliminated

capital were eliminated

poverty were eliminated

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

7 / 25

Rational choice or rational decision-making involves:

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

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

weighing up total costs and total benefits associated with a decision

all of the above.

8 / 25

Capital, as economists use the term:

is the money the fir m spends to hire resources

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

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

is money the firm raises from selling stock

9 / 25

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

a normal good

a complementary good

a substitute good

an inferior good

10 / 25

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

a change in wealth

a change in income

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

a change in the price of compact discs

11 / 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

12 / 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:

production possibility frontier

supply curve

circular-flow diagram

demand curve

13 / 25

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

The wishes of consumers in the market

The price mechanism.

The order or command of the ruling government or dictator

Concerns of equity or equal distribution among individuals

14 / 25

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

the ceteris paribus effect

the substitution effect

the total price effect.

the income effect.

15 / 25

Opportunity cost, most broadly define, is:

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

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

the additional cost of producing an additional unit of output

the additional cost of buying an additional unit of a product

16 / 25

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

economics is a social science

of the difficulty of distinguishing between normative and positive statements

economics is a natural science

of resource scarcity

17 / 25

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

capitalisation

production

consumption

allocation

18 / 25

The PPF can be used to illustrate:

efficient, infeasible and inefficient production combinations

the distinction between micro and macroeconomics

the principle of opportunity costs and increasing opportunity costs

all of the above

19 / 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

substitutes

complements

unrelated goods

20 / 25

The phrase 'ceteris paribus' is best expressed as:

all else equal

there is no such thing as a free lunch

everything affects everything else

scarcity is a fact of life

21 / 25

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

quantity supplied to decrease

quantity demanded to increase

price to rise

price to fall

22 / 25

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

a decrease in the quantity supplied of

an increase in the quantity supplied of

an increase in the supply of

a decrease in the supply of

23 / 25

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

buildings

land

money

labour

24 / 25

The 'law of demand' implies that:

as prices fall, demand increases

as prices fall, quantity dem anded increases

as prices rise, demand decreases

as prices rise, quantity demanded increases

25 / 25

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

all of the above

goods markets

goods and factor markets

two or more factor markets

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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

PPSC Lecturer Economics Test 12 Online Preparation MCQs

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