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.

Ceteris paribus means?

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

Characteristics of economic laws are?

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

According to Marshall, the basis of consumer surplus is?

Per capita income is?

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?

Invisible items in balance of payments include?

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


Most of our exports consist of?

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

Contribution of industrial sector in Pakistan’s GDP is?

Which statement is true?

Real national income increases when?

The basic goal of a firm is to?

The sum of money paid on shares to a shareholder by a public limited company out of its profits is called?

The most important source of income of a government is?

GNP is always?

Banks discount it and advance loans?

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

Who has given scarcity definition of economics ?

Which theory is generally included under micro economics ?

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

It is considered as transfer payments?

For inferior commodities, income effect is?

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

Which of the following is the currency of Nepal?

What is the main function of money?

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

Final balance of payments of a country is?

Which statement relates to macroeconomics?

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

The largest sector of Pakistan economy is?

Balance of payments of a country has parts?

Economic profit is?

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

Balance of payments of a country includes?

The four factor payments are?

Transfer payments are not included in national income because?

The shape of rectangular hyperbola is made by?

Pakistan started its first five-year plan in?

Profit is maximum when?

Economics is?

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

In Monopoly at various output levels?

Economic problems arise because of?

Supply usually lags behind in the case of?

The concept of economic growth is?

Identify the school founded by Wilhelm Roscher?

The largest automobile manufacturing centre in the world is at?

The banks can give loans?

Microeconomics concentrates?

Identify the work of Irving Fisher?

Largest sector of Pakistan economy is?

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

Govt. prepares its budget?

A firm earns economic profit when total profit exceeds?

Which of the following is an economic flow?

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

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

Three basic economic problems?

In the world population-wise Pakistan is?

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

The first railway line in India was laid between?

Economic laws are?

Economic laws are?

Pakistan produces of its oil requirements?

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

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

The Strategy of Economic Development” is the work of?

Which of the following is a non-economic activity?

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

Excise tax is a part of?

It is direct tax?

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

Rupee is a coin?

What is the currency of Bangladesh?

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

Where is the headquarters of the European Economic Community?

Devaluation means?

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

The National Rural Employment Programme focuses particularly on?

Economic law?

He described economics as a science of material welfare?

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

If GNP of Pakistan rises, it will encourage?

What is the complete name of the World Bank?

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

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

NI = NE is an?

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

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

Whose opinions have revolutionised the scope of macro economics ?

Literacy rate in Pakistan is?

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

Besides increase in output, economic development is concerned with?

Pakistan follows the policy of?

Contribution of industrial sector in Pakistan economy is?

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

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