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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.

Import substitution is an example of ?

A the principle of comparative advantage

B the principle of absolute advantage

C an outward-looking growth strategy

D an inward-looking growth strategy

Review Detailed Answer

Correct Answer: an inward-looking growth strategy

Because supply and demand conditions for primary products are very price inelastic their prices ?

A have been steadily rising in recent decades

B have been more stable than the prices of manufactured goods

C fluctuate about as much as the prices of manufactured goods

D tend to be very unstable from year to year

Review Detailed Answer

Correct Answer: tend to be very unstable from year to year

Which of the following strategies have developing countries not used to deal with the problem of unstable export markets ?

A multilateral contracts

B production and export controls

C buffer stock arrangements

D tariff-rates quotas

Review Detailed Answer

Correct Answer: tariff-rates quotas

The ability of the Organization of Petroleum Exporting Countries (OPEC) to maximize profits is hampered by ?

A a lack of substitutes for oil

B similar cost schedules for member countries

C highly inelastic world demand curve for oil

D economic recession for oil importing nations

Review Detailed Answer

Correct Answer: economic recession for oil importing nations

All of the following are trade problems of developing countries except?

A unstable export markets

B improving terms of trade

C limited access to the markets of industrial countries

D highly elastic demand curves for their products

Review Detailed Answer

Correct Answer: improving terms of trade

To be considered a good candidate for export cartel, a commodity should ?

A be a manufactured good

B be a primary product

C have a low price elasticity of supply

D have a high price elasticity of demand

Review Detailed Answer

Correct Answer: have a low price elasticity of supply

Hong Kong and South Korea are examples of developing nations that have recently pursued ________ industrialization policies?

A import substitution

B export promotion

C commercial dumping

D multilateral contract

Review Detailed Answer

Correct Answer: export promotion

For the oil-importing countries, the increase in oil prices in 1970s and early 2000s contributed to all of the following except ?

A balance of trade deficits

B price inflation

C constrained economic growth

D improving terms of trade

Review Detailed Answer

Correct Answer: improving terms of trade

A widely used indicator to differentiate developed countries from developing countries is ?

A international trade per capita

B real income per capital

C unemployment per capita

D calories per capita

Review Detailed Answer

Correct Answer: real income per capital

Instead, assume that global economic expansion causes the quantity of tin demanded to increase by 4 million pounds at each price To maintain price of tin at the target price you would ?

A sell 4 million pounds of tin

B sell 8 million pounds of tin

C buy 4 million pounds of tin

D buy 8 million pounds of tin

Review Detailed Answer

Correct Answer: sell 4 million pounds of tin

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Economics Mcqs 4423 MCQs [All-Courses]

All Topics 4423

All Topics 4423

Import substitution is an example of ?

Because supply and demand conditions for primary products are very price inelastic their prices ?

Which of the following strategies have developing countries not used to deal with the problem of unstable export markets ?

The ability of the Organization of Petroleum Exporting Countries (OPEC) to maximize profits is hampered by ?

All of the following are trade problems of developing countries except?

To be considered a good candidate for export cartel, a commodity should ?

Hong Kong and South Korea are examples of developing nations that have recently pursued ________ industrialization policies?

For the oil-importing countries, the increase in oil prices in 1970s and early 2000s contributed to all of the following except ?

A widely used indicator to differentiate developed countries from developing countries is ?

Instead, assume that global economic expansion causes the quantity of tin demanded to increase by 4 million pounds at each price To maintain price of tin at the target price you would ?