Category: Economics MCQs FPSC NTS PPSC Past Papers Economy Test Questions

(A) the post hoc fallacy
(B) failure to hold other things constant
(C) the fallacy of composition
(D) normative fallacy

The answer is: (C) the fallacy of composition

(A) what, how and when
(B) what, where and when
(C) what, how, and for whom
(D) how, where, and for whom

The answer is: (C) what, how, and for whom

(A) supply
(B) demand
(C) consumption
(D) markets

The answer is: (D) markets

(A) revenue and taxation
(B) taxation and credit control
(C) expenditure and investment
(D) expenditure and taxation

The answer is: (D) expenditure and taxation

(A) the supply curve
(B) the demand curve
(C) production-possibility frontier
(D) the supply-demand equilibrium

The answer is: (C) production-possibility frontier

(A) GDP
(B) GNP
(C) Gini
(D) HDI

The answer is: (A) GDP

(A) more, more
(B) more, less
(C) less, less
(D) none of these

The answer is: (B) more, less

(A) self-regulating economy
(B) government-controlled economy
(C) command economy
(D) socialism

The answer is: (A) self-regulating economy

(A) specialization
(B) market economy
(C) globalization
(D) equilibrium condition

The answer is: (C) globalization

(A) supply, price
(B) quantity, price
(C) price, supply
(D) price, quantity

The answer is: (B) quantity, price