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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 mixed economy ?
A Has supply but not demand
B Has demand but not supply
C Has supply and demand
D Has market forces and government intervention
Correct Answer: Has market forces and government intervention
The basic economic problems will not be solved by ?
A Market forces
B Government intervention
C A mixture of government intervention and the free market
D The creation of unlimited resources
Correct Answer: The creation of unlimited resources
An increase in consumer income will increase demand for a _________ but decrease demand for a?
A substitute good, inferior good
B normal good inferior good
C inferior good normal good
D normal good, complementary good
Correct Answer: normal good inferior good
If a price increase of good A increases the quantity demanded of good B, then good B is a________________?
A substitute good
B complementary good
C bargain
D inferior good
Correct Answer: substitute good
A demand curve can shift because changing ?
A incomes
B prices of related goods
C tastes
D all of the above
Correct Answer: all of the above
________ and ___________ do not directly affect the demand curve ?
A the price of related goods consumer income
B consumer incomes, tastes
C the costs of production bank opening hours
D the price of related goods preferences
Correct Answer: the costs of production bank opening hours
When we know the quantity of a product that buyers wish to purchase at each possible price we know_____________?
A Demand
B Supply
C Excess demand
D Excess supply
Correct Answer: Demand
On a graph, a positive linear relationship___________________?
A moves down to the right
B moves up to the left
C moves up to the right
D moves down to the left
Correct Answer: moves up to the right
If you income during one year is Rs10,000 and the following year it is Rs12,000 then it has grown by ________________?
A 20%
B 2%
C 12%
D 16%
Correct Answer: 20%
The retail price index is used to__________________?
A construct price lists
B compare shop prices
C measure changes in the cost of living
D None of the above
Correct Answer: measure changes in the cost of living
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