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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

If your income doubles and the prices of the goods you buy double then your demand for these goods will likely?
A increase
B not change
C decrease
D shift
Correct Answer: not change
A measurement showing how quantity demanded varies with income is the ?
A Price elasticity of demand
B Cross-price elasticity of demand
C budget elasticity of demand
D income elasticity of demand
Correct Answer: income elasticity of demand
The price elasticity of demand measures ?
A The responsiveness of quantity demanded to a change in price
B How far a demand curve shifts
C a change in price
D a change in quantity demanded
Correct Answer: The responsiveness of quantity demanded to a change in price
Increased level consumption ?
A shift aggregate supply to the right
B shift aggregate supply to the left
C shift aggregate demand to the right
D shift aggregate demand to the left
Correct Answer: shift aggregate supply to the left
Improved training of employees would ?
A Shift aggregate supply to the right
B Shift aggregate supply to the left
C Shift aggregate demand to the right
D shift aggregate demand to the left
Correct Answer: Shift aggregate supply to the right
Which of the following would increase aggregate demand ?
A Increased saving
B Increasing import spending
C Increased taxation revenue
D increased investment
Correct Answer: Increased taxation revenue
Aggregate demand will increase if ?
A consumption falls
B investment falls
C Exports fall
D imports fall
Correct Answer: imports fall
The price elasticity of supply is +4 The price increases by 15% sales were originally 200 units What will they be now ?
A 80 units
B 320 units
C 60 units
D 120 units
Correct Answer: 320 units
An increase in productivity should ?
A Lead to a contraction of supply
B Lead to an expansion of supply
C Lead to a shift in supply outwards (i.e more supplied at each and every price)
D Lead to a higher equilibrium and lower equilibrium quantity
Correct Answer: Lead to a shift in supply outwards (i.e more supplied at each and every price)
An increase in the costs of production will ?
A Shift demand outwards
B Shift demand inwards
C Shift supply outwards so more is supplied at each and every price, all other things unchanged
D Shift supply inwards
Correct Answer: Shift supply inwards
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