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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

The total demand for goods and services in an economy is known as_____________?
A gross national product.
B national demand.
C economy-wide demand
D aggregate demand
Correct Answer: aggregate demand
The study of inflation is part of ?
A descriptive economics
B normative economics
C macroeconomics.
D microeconomics
Correct Answer: macroeconomics.
Macroeconomics deals with?
A the behavior of the electronics industry
B the behavior of firms
C economics aggregates
D the activities of individual units
Correct Answer: economics aggregates
Which of the following is a normative statement in economics ?
A More spending by the government reduces poverty
B Higher taxes lead to less desire to work
C The Pakistan’s economy is growing fast relative to other SAARC members
D The government should concentrate on reducing unemployment
Correct Answer: The government should concentrate on reducing unemployment
In a command (planned) economy ?
A The price mechanism acts as an incentive
B Resources are allocated by market forces
C Individual firms make decisions for themselves about what to produce and how to produce it
D The public sector is large
Correct Answer: Resources are allocated by market forces
The free market involves ?
A The free provision of products
B The Subsidizing of products by the government
C Market forces of supply and demand
D All trade via barter
Correct Answer: Market forces of supply and demand
Which of the following is not one of the basic economic s ?
A What to produce
B Who to produce for
C How to produce
D How to maximize economic growth
Correct Answer: How to maximize economic growth
Human wants are_______________?
A Always fixed
B Limited
C Unlimited
D Likely to decrease over time
Correct Answer: Unlimited
The sacrifice involved when you choose a particular course of action is called the?
A Alternative
B Opportunity cost
C Consumer cost
D Producer cost
Correct Answer: Opportunity cost
The sacrifice involved when you choose a particular course of action is called the ?
A Alternative
B Opportunity cost
C Consumer cost
D Producer cost
Correct Answer: Opportunity cost
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