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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

Unemployment means that ?
A there is excess demand in the labour market
B there are some people who will not work at the going wage rate.
C people are not willing to work at the going wage rate.
D at the going wage rate, there are people who want to work but cannot find work.
Correct Answer: at the going wage rate, there are people who want to work but cannot find work.
Inflation is___________________?
A a decrease in the overall price level.
B an increase in the overall price level.
C an increase in the overall level of economic activity.
D a decrease in the overall level of economics activity
Correct Answer: an increase in the overall price level.
Aggregate supply is the total amount ?
A of labor supplied by all households.
B Produced by the government.
C of goods and services produced in an economy.
D of products produced by a given industry.
Correct Answer: of goods and services produced in an economy.
Microeconomics is not concerned with the behavior of ?
A aggregate demand
B firms
C Consumers
D industries.
Correct Answer: aggregate demand
The economics the central problem is ?
A Scarcity
B Money
C Consumption
D Allocation
Correct Answer: Scarcity
The public sector includes ?
A Investors owning companies
B Government ownership of assets
C Market forces of supply and demand
D All trade via barter
Correct Answer: All trade via barter
A mixed economy ?
A Has supply but not demand
B Has demand but not supply
C Has supply and demand
D Has market forces and government intervention
Correct Answer: Has market forces and government intervention
The basic economic problems will not be solved by ?
A Market forces
B Government intervention
C A mixture of government intervention and the free market
D The creation of unlimited resources
Correct Answer: The creation of unlimited resources
An increase in consumer income will increase demand for a _________ but decrease demand for a?
A substitute good, inferior good
B normal good inferior good
C inferior good normal good
D normal good, complementary good
Correct Answer: normal good inferior good
If a price increase of good A increases the quantity demanded of good B, then good B is a________________?
A substitute good
B complementary good
C bargain
D inferior good
Correct Answer: substitute good
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