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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

In a free market system, the amount of goods and services that any one household gets depends upon its ?
A income
B income and wealth
C wealth
D wage and interest income
Correct Answer: income
Periods of less than full employment corresponds to _________________ ?
A points outside the production possibility curve
B either points inside or outside the production possibility curve.
C points on the production possibility curve
D points inside the production possibility curve.
Correct Answer: points inside the production possibility curve.
Opportunity cost is_________________?
A the cost incurred in the past before we make a decision about what to do in the future.
B a cost that cannot be avoided. regardless of what is done in the future
C that which we forgo, or give up, when we make a choice or a decision.
D the additional benefit of buying an additional unit of a product
Correct Answer: that which we forgo, or give up, when we make a choice or a decision.
A student chooses to study because the marginal benefit is greater than the ______________ cost?
A average
B expected
C total
D marginal
Correct Answer: marginal
Unemployment means that ?
A there is excess demand in the labour market
B there are some people who will not work at the going wage rate.
C people are not willing to work at the going wage rate.
D at the going wage rate, there are people who want to work but cannot find work.
Correct Answer: at the going wage rate, there are people who want to work but cannot find work.
Inflation is___________________?
A a decrease in the overall price level.
B an increase in the overall price level.
C an increase in the overall level of economic activity.
D a decrease in the overall level of economics activity
Correct Answer: an increase in the overall price level.
Aggregate supply is the total amount ?
A of labor supplied by all households.
B Produced by the government.
C of goods and services produced in an economy.
D of products produced by a given industry.
Correct Answer: of goods and services produced in an economy.
Microeconomics is not concerned with the behavior of ?
A aggregate demand
B firms
C Consumers
D industries.
Correct Answer: aggregate demand
The economics the central problem is ?
A Scarcity
B Money
C Consumption
D Allocation
Correct Answer: Scarcity
The public sector includes ?
A Investors owning companies
B Government ownership of assets
C Market forces of supply and demand
D All trade via barter
Correct Answer: All trade via barter
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