PMS Commerce MCQs

BPSC Most Important Lecturer Commerce Online Test No. 64

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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.
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Test Instructions:-
Test Name	Lecturer Commerce
Subject	Commerce Test 64
Test Type	MCQs
Total Questions	25
Total Time	20 Minutes
Total Marks	100

You have 20 minutes to pass to the quiz.

Lecturer Commerce Online Test No. 64

1 / 25

Marshall in his definition of economics.

Uses the concept of material welfare

Dislikes wealth

Accuses Adam Smith

Praises Robbins

2 / 25

Economic laws are:

Scientific

Moral

Natural

Unreal

3 / 25

Which statements is true? (only one answer is true).

Economics is a physical and normative science.

Economics is a social and natural science.

Economics is physical and positive science.

Economics is a social and normative science.

4 / 25

Marshall wrote the book.

Introduction to economics

Principles of economics

Classical economics

Microeconomics theory

5 / 25

Economic laws are:

Exact

Approximate

Brief

Definite

6 / 25

Macroeconomic deals with.

How to buy groceries

Aggregate economic activity

Establishment of a new firm.

Industrial activity

7 / 25

A positive statement.

Concerns what is

Is always accurate.

deals with values and opinions.

Cannot be tested in the real world.

8 / 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.

9 / 25

Three basic economic problems.

What, how and for whom

Why, where, and when

What, which and how much

What, which, why

10 / 25

Economics is a science.

Spiritual

Social

Dismal

Moral

11 / 25

Economic theory means.

Economic policy

Economic principles

Advises neutrality in economics.

None of the above

12 / 25

Scarcity exists.

In only poor countries

In a country that uses resources inefficiently.

In all countries of the world

When society produces unimportant or silly goods.

13 / 25

Normative economics:

Deals solely with the facts.

Is never studied in colleges.

Involves opinions and interpretations

Is clearly preferable to positive economics.

14 / 25

In economics, assumptions:

Make economic theory useless.

Mean other things equal

Enable economists to simplify reality

Used in micro and not in macroeconomics.

15 / 25

Father of political economy.

Adam smith

Robbins

Malthus

Marshall

16 / 25

Robbins in his definition.

Talks of scarcity of resources

Preaches moral values.

Advises neutrality in economics.

None of the above

17 / 25

Economic laws:

Must be followed

Are heated by people

Have economic behavior of people

Are unscientific.

18 / 25

Economics:

Is more important than mathematics.

Is a social science

Should be made compulsory for every student.

Is difficult to study

19 / 25

"Wealth of nation":

Is another name for united nations?

Is a book

Indicates total wealth of rich countries.

Contains formulas to earn wealth.

20 / 25

Ceteris paribus means.

Other things equal

All variables are independent.

All relationships are inverse.

That no other assumptions are made.

21 / 25

Microeconomics concentrates.

On inflation

International economic relations.

Individual economic units

Economic development of Pakistan

22 / 25

Adam Smith was a:

Was a saint

A modern economist.

Good sports man

Classical economist

23 / 25

Economic problems arise because of:

Greed

Scarcity

Dishonesty

Laziness

24 / 25

He described economics as a science of material welfare.

Robbins

Marshall

Ricardo

Keynes

25 / 25

Basic economic problem is:

Inflation

Unemployment

Poverty

Scarcity

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