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Economics Mcqs 4423 MCQs [All-Courses]

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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.

All Topics  4423

A supply curve is directly affected by ?
A technology
B input costs
C government regulation
D all of the above
Correct Answer: all of the above
when a market is in equilibrium ?
A quantity demanded equals quantity supplied
B Excess demand and excess supply are zero
C The market is cleared by the equilibrium price
D All of the above
Correct Answer: All of the above
If the diagram of a line shows that lower values on the vertical scale are associated with higher values on the horizontal scale this is an example of ?
A a nonlinear relationship
B a positive linear relationship
C a scatter diagrams
D a negative linear relationship
Correct Answer: a negative linear relationship
A straight-line diagram can be drawn knowing the ________ and ________?
A vertical axis and horizontal axis
B intercept and slope
C scale and slope
D intercept and scale
Correct Answer: scale and slope
A real value can be derived from a nominal value by ?
A adjusting for changes over time
B adjusting for data collection errors
C adjusting for population changes
D adjusting or changes in prices
Correct Answer: adjusting or changes in prices
Time series data show information ?
A about the same point in time over different places
B about different points in time over the same variable
C about different variables over different places
D about different points in time over different places
Correct Answer: about different points in time over the same variable
Macroeconomics is the study of ?
A individual building blocks in the economy
B the relationship between different sectors on the economy
C household purchase decisions
D the economy as a whole
Correct Answer: the economy as a whole
In the mixed economy________________?
A economics problems are solved by the government and market
B economic decisions are made by the private sector and free market
C economic allocation is achieved by the invisible hand
D economics s is solved by government departments
Correct Answer: economics problems are solved by the government and market
A market can accurately be described as_________________?
A a place to buy things
B a place to sell things
C the process by which prices adjust to reconcile the allocation of resources
D a place where buyers and sellers meet
Correct Answer: the process by which prices adjust to reconcile the allocation of resources
Economics is the study of ?
A Production technology
B Consumption decisions
C how society decides what how and for whom to produce
D the best way to run society
Correct Answer: how society decides what how and for whom to produce
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