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

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

unrelated goods

complements

substitutes

2 / 25

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

consumer tastes and the prices of other goods

incomes and tastes

incomes, tastes, and the prices of other goods

incomes, tastes, and the price of the good

3 / 25

Capital, as economists use the term:

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

is money the firm raises from selling stock

4 / 25

The phrase 'ceteris paribus' is best expressed as:

scarcity is a fact of life

everything affects everything else

all else equal

there is no such thing as a free lunch

5 / 25

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

Concerns of equity or equal distribution among individuals

The wishes of consumers in the market

The order or command of the ruling government or dictator

The price mechanism.

6 / 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.

7 / 25

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

either points inside or outside the ppf

points inside the ppf

points outside the ppf

points on the ppf

8 / 25

Positive statements are:

value judgments

verifiable or testable

good statements

statements in the affirmative

9 / 25

Rational choice or rational decision-making involves:

all of the above.

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

10 / 25

The 'law of demand' implies that:

as prices fall, quantity dem anded increases

as prices fall, demand increases

as prices rise, quantity demanded increases

as prices rise, demand decreases

11 / 25

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

a change in wealth

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

a change in income

a change in the price of compact discs

12 / 25

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

price to rise

price to fall

quantity supplied to decrease

quantity demanded to increase

13 / 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 supply of

a decrease in the supply of

an increase in the quantity supplied of

14 / 25

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

labour

land

money

buildings

15 / 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:

circular-flow diagram

production possibility frontier

demand curve

supply curve

16 / 25

The former Soviet Union was an example of:

dictatorship

a planned economy

free-market/capitalism

a mixed economy

17 / 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

the price of A has increased

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

A’s consumers have had an increase in income

18 / 25

The PPF can be used to illustrate:

the distinction between micro and macroeconomics

the principle of opportunity costs and increasing opportunity costs

efficient, infeasible and inefficient production combinations

all of the above

19 / 25

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

consumption

production

capitalisation

allocation

20 / 25

Opportunity cost, most broadly define, is:

the additional cost of producing an additional unit of output

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

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

the additional cost of buying an additional unit of a product

21 / 25

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

economics is a social science

economics is a natural science

of resource scarcity

of the difficulty of distinguishing between normative and positive statements

22 / 25

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

a substitute good

an inferior good

a normal good

a complementary good

23 / 25

The concept of choice would become irrelevant if:

scarcity were eliminated

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

capital were eliminated

poverty were eliminated

24 / 25

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

two or more factor markets

goods markets

goods and factor markets

all of the above

25 / 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.

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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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