Economics Mcqs Online with Answers

Economics is a study of man in the ordinary business of life. It enquirers how he gets his income and how he uses it. Thus, it is on the one side, the study of wealth and on the other and more important side, a part of the study of man. Economics is a science which studies human behavior as a relationship between ends and scarce means which have alternative uses. Economics is the social science that studies the production, distribution, and consumption of goods and services.Economics focuses on the behavior and interactions of economic agents and how economies work. Microeconomics analyzes basic elements in the economy, including individual agents and markets, their interactions, and the outcomes of interactions.Economics is the science that deals with the production, allocation, and use of goods and services. It is important to study how resources can best be distributed to meet the needs of the greatest number of people. As we are more connected globally to one another, the study of economics becomes extremely important.Just follow the Mcqs online quiz being dispatched over here with respect to your preparation for entry admission test NTS PPSC OTS PTS and miscellaneous job exams simultaneously.

Here we have large collection of Economics Mcqs for all Students and jobs test preparation purpose. These Economics Mcqs will be updated on daily basis and added more multiple choice question about Economics frequently.You can prepare your Economics Subject for different classes like 9th class, 10th class ,11th class 12th class exams, Entry Test like MCAT NTS ,OTS ,PTS ,BTS, GTS, Jobs Test,Recruitment Test like PPSC CSS FPSC SPSC KPPSC and interviews here.

Economics Mcqs Online With Answers for NTS PPSC Entry Test Classes


Latest Economics Mcqs Online with Answers.

It creates difficulties in measurement of national income of Pakistan?

Economic problems arise because of?

Which of the following is generally regarded as the true index of economic growth?

Taxes are levied to?

Average growth rate of Pakistan’s national income in past five years have been?

It is direct tax?

The price of a commodity is fixed?

Macroeconomic deals with?

The most important factor in economic development is?

Pakistan’ income is low because?

Supply usually lags behind in the case of?

What is the currency of Myanmar?

Pakistan is an economy?

Which of the following is closest to the concept of economic production?

The shape of rectangular hyperbola is made by?

Which statement is true?

An Enquiry into the Nature and Causes of Wealth of Nations” is the book of economist?

Balance sheet of a bank has two parts?

The Law of Diminishing Returns applies to?

If Japanese import more goods from Pakistan (other things remain same)?

What is the complete name of the World Bank?

According to Pakistan Economic Survey, per capita income of Pakistan in U.S. dollars is?

Balance of payments of a country has parts?

Total utility of a commodity is measured by which price of that commodity ?

Progressive taxes?

Exchange rate for currencies is determined by supply and demand in system of?

Elasticity of Demand explains the relationship between?

This step will increase saving in Pakistan?

Pakistan’s per capita income is less than?

Cash cannot be directly drawn from a bank against?

Largest sector of Pakistan economy is?


It is considered as transfer payments?

Identify the work of Irving Fisher?

Ceteris paribus means?

The four factor payments are?

One of the following is NOT a feature of private finance?

Excise tax is a part of?

Economics is a science?

When was Adam Smith’s major work “An Enquiry into the Nature and Causes of Wealth of Nations” published?

Identify the author of “Mathematical Analysis for Economists?

Who wrote “An Introduction to Positive Economics”?

Passive factor of production is?

The economy of Brazil is mostly dependent on?

Pakistan started its first five-year plan in?

Purchase of a ceiling fan by a household is treted in national income accounting as a part of?

Economic profit is?

Three basic economic problems?

Which of the following is an economic activity?

A closed economy is one which?

If GNP of Pakistan rises, it will encourage?

Which one is per capita income?

Identify the economist who had little formal education and started working in the money market at an early age of fourteen?

Pakistan’s saving rate is?

Per capita income is?

Father of political economy?

When total utility becomes maximum, then marginal utility will be?

The Communist Manifesto, written jointly by Marx and Engel’s, was published in?

Who is generally regarded as the founder of the “Classical School”?

Who stated explicitly for the first tirr the law of comparative costs?

Economics is a science” the basis of this statement is?

In Monopoly at various output levels?

The division of labour, according to Adam Smith, is limited by?

One of the following economists do not belong to the Austrian School. Identify him?

The theory of ‘surplus value’ is associated with?

Among the following determinants of growth, which is a non-economic factor?

Characteristics of economic laws are?

Economics is the Science of Wealth” who gave this definition ?

Which of the following is an example of primary production?

Population growth rate in Pakistan is?

Economic laws are?

Which of the following is inconsistent with Adam Smith’s theory of development?

Who is the author of “Problems of Capital Formation in Underdeveloped Countries”?

The rate of growth of an economy mainly depends upon?

Whom of the following propounded principles of taxation?

According to Marshall, the basis of consumer surplus is?

Economics is what economists do.” It has been supported by?

Literacy rate in Pakistan is?

The Critique of Political Economy, the first fruits of Karl Marx’s long painstaking research at the British Museum, appeared in?

The necessary condition for equilibrium position of a firm is?

Basic economic problem is?

Who has given scarcity definition of economics ?

Identify the author of “The Principles of Political Economy and Taxation”?

Which statement relates to macroeconomics?

Contribution of industrial sector in Pakistan’s GDP is?

The entrepreneur?

Who among the following well-known economists graduated from the London School of Economics?

Under law of demand?

Contribution of agriculture in Pakistan’s national income is?

Rupee is a coin?

Adam Smith was a?

The largest sector of Pakistan economy is?

Govt. prepares its budget?

Profit and loss-sharing is an element of this system:

The labour of Nature is paid, not because she does much, but because she does little. In proportion as she becomes niggardly in her gifts, whe exacts a greater price for her work.” Who made this observation?

Size of Pakistan’s 8th plan was in rupees?

Most of our exports consist of?

The real price of every thing, what every thing really costs to the man who wants to require it, is the toil and trouble of acquiring it. Who made this statement?

Which of the following world be a ‘fixed cost’ to a manufacturing firm?

One of the following is NOT a feature of private finance?

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