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.

Literacy rate in Pakistan is?

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

It is considered as investment?

Identify the work of Irving Fisher?

Normative economics?

Pakistan’s per capita income at constant prices in rupees is?

Which statement is true?

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

The basic goal of a firm is to?

Balance sheet of a bank has two parts?

ch is NOT a cause of shift in cost curves of a firm?

Basic economic problem is?

The price of a commodity is fixed?

Three basic economic problems?

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

All inputs can be varied?

Where is the headquarters of the European Economic Community?

Banks prepare their balance sheet?

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

The basic goal of a firm is to?

Working population is percent of total population of Pakistan?

Govt. prepares its budget?

Balance of payments of a country includes?

Elinor Ostrom and Oliver Williamson are the Nobel Prize Laureates in Economics in 2009. Do you know in which year was Francois Quesnay’s Tableu Economique published?

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

At the point of equilibrium of firm (under perfect competition)?

Identify the author of “Mathematical Analysis for Economists?

Contribution of agriculture in Pakistan’s national income is?

Which of the following is an economic activity ?

Taxes are levied to?

NI = NE is an?

Economic laws are?

It is direct tax?

Pakistan’s per capita income is less than?

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

Which one is per capita income?

Rupee is a coin?

It is considered as transfer payments?

Microeconomics concentrates?

Balance of payments of a country has parts?

The concept of economic growth is?

Most of our exports consist of?

Utility means?

Progressive taxes?

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

If a country’s growth rate was 5%, it means there would be 5% increase in?

If GNP of Pakistan rises, it will encourage?

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

Who wrote “An Introduction to Positive Economics”?

Human Welfare is the subject of Economics.” This statement is associated with the name of which of the economists ?

Characteristics of economic laws are?

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

Which of the following is a characteristic feature of a modern economy?

These are heads of expenditure of the government EXCEPT?

Which of the following is not a corporate enterprise?

Pakistan produces of its oil requirements?

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

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

Largest sector of Pakistan economy is?

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

In the world population-wise Pakistan is?

Excise tax is a part of?

The traditional economy is characterised by?

Marginal utility is equal to average utility at that time when average utility is?


Economic problems arise because of?

Economics is a science?

A firm earns economic profit when total profit exceeds?

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

Real national income increases when?

The rate of growth of an economy mainly depends upon?

The Strategy of Economic Development” is the work of?

Who has given scarcity definition of economics ?

Supply usually lags behind in the case of?

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

The largest automobile manufacturing centre in the world is at?

When prices are rising, one of the ways of bringing about reduction in prices would be to?

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

Devaluation means?

For inferior commodities, income effect is?

The entrepreneur?

Normal profit is?

A positive statement?

Which of the following is a non-economic activity?

Adam Smith was a?

The shape of rectangular hyperbola is made by?

Economic law?

Pakistan follows the policy of?

Which of the following is an economic activity?

Which of the following is the currency of Nepal?

Ceteris paribus means?

The largest sector of Pakistan economy is?

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

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

Pakistan started its first five-year plan in?

Profit is maximum when?

A firm’s MR exceeds its MC, maximum profit rule requires that firm to?

Besides increase in output, economic development is concerned with?

Economic profit is?

The necessary condition for equilibrium position of a firm is?

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