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.

In a command (planned) economy ?

A The price mechanism acts as an incentive

B Resources are allocated by market forces

C Individual firms make decisions for themselves about what to produce and how to produce it

D The public sector is large

Review Detailed Answer

Correct Answer: Resources are allocated by market forces

The free market involves ?

A The free provision of products

B The Subsidizing of products by the government

C Market forces of supply and demand

D All trade via barter

Review Detailed Answer

Correct Answer: Market forces of supply and demand

Which of the following is not one of the basic economic s ?

A What to produce

B Who to produce for

C How to produce

D How to maximize economic growth

Review Detailed Answer

Correct Answer: How to maximize economic growth

Human wants are_______________?

A Always fixed

B Limited

C Unlimited

D Likely to decrease over time

Review Detailed Answer

Correct Answer: Unlimited

The sacrifice involved when you choose a particular course of action is called the?

A Alternative

B Opportunity cost

C Consumer cost

D Producer cost

Review Detailed Answer

Correct Answer: Opportunity cost

The sacrifice involved when you choose a particular course of action is called the ?

A Alternative

B Opportunity cost

C Consumer cost

D Producer cost

Review Detailed Answer

Correct Answer: Opportunity cost

Resources in an economy ?

A Are always found

B Can never decease

C Always increase over time

D Are limited at any moment in time

Review Detailed Answer

Correct Answer: Are limited at any moment in time

Economic system in which the government owns and controls the means of production to benefit all the people is called ?

A Dictatorship

B Socialism

C Capitalism

D Authoritarianism

Review Detailed Answer

Correct Answer: Authoritarianism

What is Remittance_______________?

A Sending of money to someone at distance

B The sum of money sent

C Both of them

D None of them

Review Detailed Answer

Correct Answer: Both of them

What is called protection of domestic producers by impeding or limiting the importation of foreign goods and services ?

A Domestication

B Protectionism

C Localization

D National interest

Review Detailed Answer

Correct Answer: Protectionism

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Economics Mcqs 4423 MCQs [All-Courses]

All Topics 4423

All Topics 4423

In a command (planned) economy ?

The free market involves ?

Which of the following is not one of the basic economic s ?

Human wants are_______________?

The sacrifice involved when you choose a particular course of action is called the?

The sacrifice involved when you choose a particular course of action is called the ?

Resources in an economy ?

Economic system in which the government owns and controls the means of production to benefit all the people is called ?

What is Remittance_______________?

What is called protection of domestic producers by impeding or limiting the importation of foreign goods and services ?