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

Economics MCQs quiz test questions with answers. Basic economics, microeconomics, macroeconomics, managerial economics and world economy multiple choice questions and answers.

What is meant by ‘a produced means of further production’?

July 22, 2024July 22, 2024 CSS MPT

(A) capital
(B) bad debt
(C) labour
(D) credit

The answer is: (A) capital

Replacement of an existing loan with another loan is known as

May 26, 2024May 26, 2024 CSS MPT

(A) borrowing
(B) reborrowing
(C) financing
(D) refinancing

The answer is: (D) refinancing

Who is considered the founder of modern Macroeconomics?

April 24, 2024April 24, 2024 CSS MPT

(A) Adam Smith
(B) John Keynes
(C) Friedrich Hayek
(D) Milton Friedman

The answer is: (B) John Keynes

When analyzing the impact of a variable on the economic system, the other things

April 24, 2024April 24, 2024 CSS MPT

(A) must be kept constant
(B) must also be analyzed
(C) must not be taken into consideration
(D) none of these

The answer is: (A) must be kept constant

The branch of economics concerned with overall performance of the economy is known as

April 19, 2024April 19, 2024 CSS MPT

(A) Microeconomics
(B) Macroeconomics
(C) Econometrics
(D) Keynesian Economics

The answer is: (B) Macroeconomics

The branch of economics concerned with the use of statistical methods to obtain empirical results for economic relations is known as

April 19, 2024April 19, 2024 CSS MPT

(A) Microeconomics
(B) Macroeconomics
(C) Econometrics
(D) Keynesian Economics

The answer is: (C) Econometrics

The branch of economics concerned with the behavior of markets, firms, and households is known as

April 19, 2024April 19, 2024 CSS MPT

(A) Microeconomics
(B) Macroeconomics
(C) Econometrics
(D) Bayesian Economics

The answer is: (A) Microeconomics

An economy is producing efficiently when no individual’s economic welfare can be improved unless

April 16, 2024April 16, 2024 CSS MPT

(A) supply is increased
(B) demand is increased
(C) someone else is improved
(D) someone else is made worse off

The answer is: (D) someone else is made worse off

The direct exchange of goods and services for other goods and services is known as

April 16, 2024April 16, 2024 CSS MPT

(A) Primitive trade
(B) Barter
(C) Non market trade

The answer is: (B) Barter

For the Cobb-Douglas Production Function

April 16, 2024April 16, 2024 CSS MPT

(A) The law of diminishing returns to scale holds
(B) The law of constant returns to scale holds
(C) The law of increasing returns to scale holds

The answer is: (B) The law of constant returns to scale holds

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