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Economics Mcqs 4423 MCQs [All-Courses]

Economics MCQs cover fundamental concepts of microeconomics and macroeconomics, including demand and supply, inflation, national income, and economic policies.
This section is designed to strengthen analytical skills and conceptual understanding for competitive examinations.
Highly useful for PPSC, FPSC, NTS, OTS, KPPSC, and other testing services preparation.

What is price support ?

A To increase price artificially

B Maintenance of price through public subsidy or government intervention

C To enhance price

D To maintain price at specific level

Review Detailed Answer

Correct Answer: Maintenance of price through public subsidy or government intervention

Name the organization in which people are associated together for a common purpose under a common name. This organization is recognized and created by law ?

A Company

B Corporation

C Cooperative

D Limited Company

Review Detailed Answer

Correct Answer: Corporation

Point out the use of the term price fixing ?

A Unlawful agreement between manufacturers to set and maintain specified price on typically competing products

B Artificial setting of price of commodity by government

C Both of them

D None of them

Review Detailed Answer

Correct Answer: Both of them

Term the enterprise or organization which is managed by those who use its facilities or services ?

A Limited company

B Society

C Corporation

D Cooperative

Review Detailed Answer

Correct Answer: Cooperative

The economics system planned economy is ?

A In which economists control production

B In which production and distribution of wealth is under government’s control

C In which technocrats control production

D In which government controls distribution

Review Detailed Answer

Correct Answer: In which production and distribution of wealth is under government’s control

Goods that satisfy human wants though their direct use or consumption are called______________?

A cash goods

B consumer items

C consumer goods

D cash items

Review Detailed Answer

Correct Answer: consumer goods

How is termed equal rights of trade of trade without giving monopolies or preferences to an individual country ?

A Open door market

B Open door country

C Open sky market

D Free economy

Review Detailed Answer

Correct Answer: Open door market

A country can still gain from trading certain goods even though its trading partners can produce those goods more cheaply. How is known this principle ?

A Relative Advantage

B Complete Advantage

C Comparative Edge

D Comparative Advantage

Review Detailed Answer

Correct Answer: Comparative Advantage

Which term is used for the total net value of all goods and services produced in a country in specified period of time ?

A National income

B Public income

C Local income

D Gross income

Review Detailed Answer

Correct Answer: National income

What is called a place of work where all workers within a section must belong to a single official recognized trade union ?

A Monopolized shop

B Monopolized area

C Closed shop

D Monopolized market

Review Detailed Answer

Correct Answer: Closed shop

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Economics Mcqs 4423 MCQs [All-Courses]

All Topics 4423

All Topics 4423

What is price support ?

Name the organization in which people are associated together for a common purpose under a common name. This organization is recognized and created by law ?

Point out the use of the term price fixing ?

Term the enterprise or organization which is managed by those who use its facilities or services ?

The economics system planned economy is ?

Goods that satisfy human wants though their direct use or consumption are called______________?

How is termed equal rights of trade of trade without giving monopolies or preferences to an individual country ?

A country can still gain from trading certain goods even though its trading partners can produce those goods more cheaply. How is known this principle ?

Which term is used for the total net value of all goods and services produced in a country in specified period of time ?

What is called a place of work where all workers within a section must belong to a single official recognized trade union ?