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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 privileged position of the modern industrial nations was attained because of_______________?
A a change in the economy from agrarian to industrial
B a change in the population distribution from rural to urban
C the discovery of natural resources
D both urbanization and industrialization
Correct Answer: both urbanization and industrialization
Today physicians the clergy and lawyers have difficulty dealing with test tube babies and surrogate motherhood We could say that they are grappling with_________________?
A cultural advancement
B cultural change
C cultural lag
D cultural conflict
Correct Answer: cultural change
The Industrial Revolution began with_________________?
A the invention of a few basic machines
B the overthrow of the British
C the founding of Sony in Japan
D the proletariat in Russia
Correct Answer: the invention of a few basic machines
The Industrial Revolution was based on_______________?
A the invention of basic machines
B the discovery of new material
C new sources power
D all of the above
Correct Answer: all of the above
When one culture borrows traits from another culture the borrowing culture tends to be________________?
A grateful
B selective in borrowing
C nonselective in borrowing
D gullible and impressionable
Correct Answer: selective in borrowing
How are decisions about production made in a market economy ?
A By a command system
B According to tradition
C Through a price system
D By executive fiat
Correct Answer: Through a price system
The first airplane was a (n)________________?
A discovery
B invention
C diffusion
D miracle
Correct Answer: invention
When people’s beliefs about the inferiority of a certain group undergo change the process is called________________?
A social change
B cultural change
C political change
D radical change
Correct Answer: cultural change
Modernization means that a society becomes________________?
A democratic
B affluent
C agricultural
D industrial
Correct Answer: industrial
It is correct to say that__________________?
A change is only a recent situation
B the more things change the more they remain the same
C the rate of change has increased in recent years
D change has been the downfall of societies
Correct Answer: the rate of change has increased in recent years
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