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PPSC FPSC Lecturer Economics Online Test 18 Solved MCQs

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There will be 25 multiple choice question in the test.
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Test Instructions:-
Test Name	Lecturer Economics
Subject	Economics Test 18
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. 18

1 / 25

In cardinal approach of consumer behavior marginal utility of money is

decreasing

Varies with time and situation

constant

incresing

2 / 25

Which of the following is considered as a factor of production?

Traders

Unskilled Labour

Land and Labour

3 / 25

According to cardinal approach of consumer behavior, Consumer is

Rational

Irrational

None of the above

Varies person to person

4 / 25

The term capitalism refers the

Use of markets

State ownership of capital goods

Private ownership of capital goods

State and Private ownership of capital goods

5 / 25

Economies of scale represents the

Positive average cost

Rising average cost

Falling average cost

Constant average cost

6 / 25

"The Wealth of Nations" was published in

1876

1676

1776

1976

7 / 25

Which group shows the basic factors of production?

Land, Management Skills, Capital, Technology

Land, Labour, Capital, Enterprise

Land, Labour, Natural Resources, Capital

Land, Labour, Capital, Technology

8 / 25

Points on the Production Possibilities Frontier are

Inefficeint

Unattainable

None of the above

Efficient

9 / 25

Economic growth is Illustrated as

Movement from inside the curve towards the curve

Production Possibilities Frontier shifts outwards

Production Possibilities Frontier shifts inwards

Movement along the production possibilities Frontier towards capital goods

10 / 25

The author of the book "The Wealth of Nations" is

Adam Smith

Alfred Marshall

David Ricardo

J.M Keynes

11 / 25

The fundamental economic problem is

Unemployment

nflation

Poverty

Scarcity

12 / 25

The opportunity cost of a good refers the

The others goods sacrificed to get another unit of that good

Loss of interest in using savings

The time lost in finding it

The expenditure on a good

13 / 25

The concept of Invisible hand was coined by

J.M Keynes

Adam Smith

Alfred Marshall

David Ricardo

14 / 25

The theories of consumer behavior explains that

How to maximize utility without considering budget constraint

How to maximize utility from consuming goods/services within in the limit of budget

All of the above

How to allocate budget without considering utility maximization

15 / 25

What is economics?

None of the above

Management of scarce resources to maximize utility

Management of resources only.

Maximization of utility.

16 / 25

Ceteris Paribus is defined as

Other things are equal/constant

Both of the above

Everything is variable

None of the above

17 / 25

David Ricardo coined the concept of

General Equilibrium

Partial Equlibrium

Diminishing Returns

Invisible Hand

18 / 25

There are two theories of consumer behavior i.e.

Utility Theory

Cardinal approach & Ordinal approach

Cardinal approach

Budget constraint Theory

Ordinal approach

19 / 25

Political economist

None of the above

Politician

Political economist

Sociologist

20 / 25

Utility is defined as

Prefrences

Constraint

All of the above

Satisfaction

21 / 25

Microeconomics is related to

None of the above

The household purchase decisions

The individual economic behavior

The whole economy

22 / 25

Theory of choice is about

Production

Cost of Production

Market Structure

Preferences of People

23 / 25

Short run is the time period in which

All factors of production are fixed

All factors of production can change

Variable factors of production can change

None of the above

24 / 25

Long run is a period in which

All factors of production can change

Only one factor of production is fixed

Capital can not be changed

Labour can not be chnaged

25 / 25

Cardinal Approach implies that

Utility cannot be measured

Utility is measurable in terms of number of goods consumed

Utility is measurable in monetary terms

None of the above

Your score is

The average score is 0%

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