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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.

Which of the following is an example of tragedy of commons ?

A over fishing

B smoking in a public place

C excessive rain

D common use of public toilets

Review Detailed Answer

Correct Answer: over fishing

The Organization of Petroleum Exporting Countries (OPEC) is a(n) _________whose members agree to limit output and fix prices?

A monopoly

B entropy

C industry

D cartel

Review Detailed Answer

Correct Answer: cartel

Progress that meets the needs of the present without compromising the ability of future generations to meet their own needs is ?

A the tragedy of commons

B sustainable development

C net primary productivity (NPP)

D the impossibility theorem

Review Detailed Answer

Correct Answer: sustainable development

UK GDP would exclude which of the following ?

A Lawyer services purchased by a home buyer

B The purchase of a new Nissan produced in Sunderland

C Copper purchased by tap manufacturer Bristan

D A new art gallery purchased by the city of Newcastle

Review Detailed Answer

Correct Answer: Copper purchased by tap manufacturer Bristan

Real GDP is measured in __ prices while nominal GDP is measured in _ prices?

A foreign; domestic

B current year; base year

C domestic; foreign

D base year; current year

Review Detailed Answer

Correct Answer: base year; current year

If a cobbler buys leather for Rs100 and thread for Rs50 and uses them to produce and sell Rs500 worth of shoes to consumers the contribution to GDP is ?

A Rs50

B Rs100

C Rs650

D Rs500

Review Detailed Answer

Correct Answer: Rs50

Gross Domestic Product is the sum of the market value of the ?

A intermediate goods

B final goods and services

C manufactured goods

D inferior goods and services

Review Detailed Answer

Correct Answer: final goods and services

Gross Domestic Product can be measured as the sum of ?

A final goods and services intermediate goods, transfer payments, and rent

B consumption investment government purchases and net exports

C consumption transfer payments. wages and profits.

D Net National Product Gross National Product, and Disposable personal income

Review Detailed Answer

Correct Answer: Net National Product Gross National Product, and Disposable personal income

The value of plant and equipment worn out in the process of manufacturing goods and services is measured by ?

A intermediate production

B Net National Product

C Investment

D depreciation

Review Detailed Answer

Correct Answer: depreciation

A higher GDP per capita may not means that the quality of life has really improved because ?

A It measures wealth not income

B It measures Gross Domestic Product

C It does not measure the quality of the items produced

D It is only measured every five years:

Review Detailed Answer

Correct Answer: It measures wealth not income

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Economics Mcqs 4423 MCQs [All-Courses]

All Topics 4423

All Topics 4423

Which of the following is an example of tragedy of commons ?

The Organization of Petroleum Exporting Countries (OPEC) is a(n) _________whose members agree to limit output and fix prices?

Progress that meets the needs of the present without compromising the ability of future generations to meet their own needs is ?

UK GDP would exclude which of the following ?

Real GDP is measured in __ prices while nominal GDP is measured in _ prices?

If a cobbler buys leather for Rs100 and thread for Rs50 and uses them to produce and sell Rs500 worth of shoes to consumers the contribution to GDP is ?

Gross Domestic Product is the sum of the market value of the ?

Gross Domestic Product can be measured as the sum of ?

The value of plant and equipment worn out in the process of manufacturing goods and services is measured by ?

A higher GDP per capita may not means that the quality of life has really improved because ?

Contact Info

Economics Mcqs 4423 MCQs [All-Courses]

All Topics 4423

All Topics 4423

Which of the following is an example of tragedy of commons ?

The Organization of Petroleum Exporting Countries (OPEC) is a(n) _________whose members agree to limit output and fix prices?

Progress that meets the needs of the present without compromising the ability of future generations to meet their own needs is ?

UK GDP would exclude which of the following ?

Real GDP is measured in __________ prices while nominal GDP is measured in _________ prices?

If a cobbler buys leather for Rs100 and thread for Rs50 and uses them to produce and sell Rs500 worth of shoes to consumers the contribution to GDP is ?

Gross Domestic Product is the sum of the market value of the ?

Gross Domestic Product can be measured as the sum of ?

The value of plant and equipment worn out in the process of manufacturing goods and services is measured by ?

A higher GDP per capita may not means that the quality of life has really improved because ?

Real GDP is measured in __ prices while nominal GDP is measured in _ prices?