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.

Corporate enterprises refer to?

It is direct tax?

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

Balance of payments of a country includes?

Adam Smith was a?

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

With which activity is the Wall street in New York, U.S.A. associated?

Real national income increases when?

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

What is the complete name of the World Bank?

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

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

The stationary state as envisaged by Adam Smith, is marked by?

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

It increases rate of capital formation?

Changes in the standard of living of the people in a country are indicated best by changes in the?

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

Devaluation means?

Progressive taxes?

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

The Law of Diminishing Returns applies to?

Pakistan started its first five-year plan in?

It is considered as investment?

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

All inputs can be varied?

Final balance of payments of a country is?

Which statement is true?

Pakistan’s per capita income is less than?

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

The four factor payments are?

Whom of the following propounded principles of taxation?

The most important factor in economic development is?

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

Who among the following is a famous economist?


In Monopoly at various output levels?

Among the following Noble Prize winners for Economics one is an Austrian economist. Identify him?

Ceteris paribus means?

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

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

Which statement relates to macroeconomics?

Economic laws are?

Utility means?

Investment rate in Pakistan is around?

A positive statement?

Working population is percent of total population of Pakistan?

The Strategy of Economic Development” is the work of?

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?

A closed economy is one which?

GNP is always?

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

Pakistan follows the policy of?

Passive factor of production is?

Which theory is generally included under micro economics ?

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?

Population growth rate in Pakistan is?

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

Taxes on commodities are?

At point of satiety, marginal utility is?

Which one is per capita income?

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

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

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

Economics is a science?

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

It is considered as transfer payments?

Pakistan’s saving rate is?

Which statement is true?

The shape of rectangular hyperbola is made by?

Demand deposits are?

Besides increase in output, economic development is concerned with?

The basic goal of a firm is to?

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

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

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

The largest automobile manufacturing centre in the world is at?

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

Balance of payments of a country includes?

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

Balance of payments of a country has parts?

Largest sector of Pakistan economy is?

Which of the following is an economic flow?

The economy of Brazil is mostly dependent on?

He described economics as a science of material welfare?

The theory of ‘surplus value’ is associated with?

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

Pakistan’ income is low because?

This step will increase investment in Pakistan?

Banks discount it and advance loans?

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

Banks prepare their balance sheet?

Elasticity of Demand explains the relationship between?

What is the currency of Myanmar?

Taxes are levied to?

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

Economics is?

Pakistan is an economy?

The basic goal of a firm is to?

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

Microeconomics concentrates?

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