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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.

The cottage or putting-out system refers to_________________?

A the housing given factory workers

B The fact that in early industrialization work was done in the home

C a type of architecture popular in Britain

D The way young people were put out to go work in factories

Review Detailed Answer

Correct Answer: The fact that in early industrialization work was done in the home

What kind of labor does the craft method require ?

A Untrained and unskilled

B High-cost, highly skilled

C Lean skilled and motivated

D Untrained and unmotivated

Review Detailed Answer

Correct Answer: High-cost, highly skilled

What percent of total work hours must be used to fix errors that occur on the assembly line in mass-production plants ?

A 50%

B 25%

C 35%

D 40%

Review Detailed Answer

Correct Answer: 25%

Lean production________________?

A combines the best features of craft and mass production

B has as its goal perfection

C pushes responsibility down the organizational ladder

D All of the above

Review Detailed Answer

Correct Answer: All of the above

The average CEO’s salary in 2005 was______________?

A 50 times that of the average workers

B 100 times that of the average workers

C 250 times that of the average workers

D 262 times that of the average workers

Review Detailed Answer

Correct Answer: 262 times that of the average workers

Which occupational categories received the greatest increase in compensation in the 1990s ?

A Domestic workers

B Accountants and financial consultants

C Senior and chief executive

D corporate attorneys

Review Detailed Answer

Correct Answer: Senior and chief executive

Which of the following is NOT within the secondary economic sector ?

A Home construction

B Oil drilling

C Salmon canning

D All of these

Review Detailed Answer

Correct Answer: Oil drilling

Corporations wield power through_____________?

A PACs

B interlocking directorates

C investment portfolios

D All of the above

Review Detailed Answer

Correct Answer: All of the above

The difference between an average worker’s salary and that of the average CEO has_______________?

A gradually narrowed

B remained stable

C slightly increased

D greatly increased

Review Detailed Answer

Correct Answer: greatly increased

In economic terms every action entail________________?

A fixed costs

B risk

C opportunity costs

D prime costs

Review Detailed Answer

Correct Answer: opportunity costs

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Economics Mcqs 4423 MCQs [All-Courses]

All Topics 4423

All Topics 4423

The cottage or putting-out system refers to_________________?

What kind of labor does the craft method require ?

What percent of total work hours must be used to fix errors that occur on the assembly line in mass-production plants ?

Lean production________________?

The average CEO’s salary in 2005 was______________?

Which occupational categories received the greatest increase in compensation in the 1990s ?

Which of the following is NOT within the secondary economic sector ?

Corporations wield power through_____________?

The difference between an average worker’s salary and that of the average CEO has_______________?

In economic terms every action entail________________?