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.

Rupee is a coin?

Economic laws are?

If GNP of Pakistan rises, it will encourage?

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

Adam Smith was a?

Corporate enterprises refer to?

In which year was the first volume of Das Capital be Karl Marx published?

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

Who first raised fears of a world food shortage?

At point of satiety, marginal utility is?

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

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

A country that does not trade with other countries is called an economy?

Govt. prepares its budget?

According to Marshall, the basis of consumer surplus is?

Which of the following is not a corporate enterprise?

Which statement is true?

Economic laws are?

These are heads of expenditure of the government EXCEPT?

Among the various determinants of the growth of national wealth Adam Smith accorded central place to?

Identify the author of “Mathematical Analysis for Economists?

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

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

Microeconomics concentrates?

Balance of payments of a country includes?

Progressive taxes?

GNP is always?

Whose opinions have revolutionised the scope of macro economics ?

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

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

Contribution of industrial sector in Pakistan’s GDP is?

A firm earns economic profit when total profit exceeds?

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

These are principles of taxation?

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

Devaluation means?

Economic law?

The basic goal of a firm is to?

Macroeconomic deals with?

The power of a bank to create credit is affected by?

The basic goal of a firm is to?

Which of the following is an economic activity?

Working population is percent of total population of Pakistan?

A closed economy is one which?

Population growth rate in Pakistan is?

The traditional economy is characterised by?

The Strategy of Economic Development” is the work of?

Transfer payments are not included in national income because?

Besides increase in output, economic development is concerned with?

The economy of Brazil is mostly dependent on?

Final balance of payments of a country is?

Balance sheet of a bank has two parts?

Rent is a creation of value, not of wealth.” Who made this observation?

The law of demand states that other things being equal there is?

Which of the following is an economic flow?

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

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?

To determine the correct level of GNP, it is necessary to?

Whom of the following propounded principles of taxation?

Under law of demand?

Taxes are levied to?

Investment rate in Pakistan is around?

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

The necessary condition for equilibrium position of a firm is?

The Law of Diminishing Returns applies to?

He described economics as a science of material welfare?

Balance of payments of a country includes?

Which one is per capita income?

MC is given by?

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

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

Which of the following is not an indicator of economically underdeveloped countries?

What is the currency of Myanmar?

Balance of payments of a country has parts?

Unit cost is another name for?

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

Who among the following is a famous economist?

When banks prepare their balance sheets, they show the money lent in?

The largest automobile manufacturing centre in the world is at?

The currency of Bangladesh is the?

Which one of the following theories of trade cycle was propounded by W.S. Jevons?

Economics is a science?

Pakistan’s per capita income is less than?

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?

Contribution of agriculture in Pakistan’s national income is?

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

It increases rate of capital formation?

NI = NE is an?

Which is most likely to cause a more even distribution of income?

Microeconomics concentrates?

Who wrote “An Introduction to Positive Economics”?

What is the complete name of the World Bank?

Who among the following is a non-resident of India?

The National Rural Employment Programme focuses particularly on?

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

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

The most important source of income of a government is?

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

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

Who has given scarcity definition of economics ?

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