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.

Normal profit is?

Who has given scarcity definition of 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?

Pakistan’ income is low because?

Which one is per capita income?

The entrepreneur?

Microeconomics concentrates?

A positive statement?

Balance sheet of a bank has two parts?

Progressive taxes?

Real national income increases when?

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

It is considered as transfer payments?

Adam Smith was a?

Economic laws are?

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

Which of the following is an economic activity?

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

Pakistan started its first five-year plan in?

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

Balance of payments of a country includes?

Profit is maximum when?

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

Largest sector of Pakistan economy is?

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

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

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

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

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

Which theory is generally included under micro economics ?

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

The worker’s real wage depends on?

Profit is maximum when?

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?

The Strategy of Economic Development” is the work of?

It increases rate of capital formation?

Ceteris paribus means?

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

Utility means?

Normative economics?

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

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

Economic laws are?

The Law of Diminishing Returns applies to?

Taxes are levied to?

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

MC is given by?

Economic law?

Contribution of agriculture in Pakistan’s national income is?

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

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

Passive factor of production is?

The shape of rectangular hyperbola is made by?

Pakistan is an economy?

Invisible items in balance of payments include?

In the world population-wise Pakistan is?

This step will increase investment in Pakistan?

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

Which of the following is the currency of Nepal?

Banks discount it and advance loans?

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

Pakistan’s saving rate is?

The National Rural Employment Programme focuses particularly on?

Under law of demand?

At point of satiety, marginal utility is?

Cash cannot be obtained from bank against?

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

Which of the following is an economic flow?

These are principles of taxation?

Investment rate in Pakistan is around?

In economics, assumptions?

Demand deposits are?

If indirect taxes are deducted from NNP and subsidies are added, we achieve?

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?

According to Marshall, the basis of consumer surplus is?

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

Literacy rate in Pakistan is?

Who among the following is a famous economist?

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

Banks charge higher rate of interest on the score of?

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

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

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

What is the main function of money?

Who first raised fears of a world food shortage?

Who wrote “An Introduction to Positive Economics”?

The largest automobile manufacturing centre in the world is at?

Where is the headquarters of the European Economic Community?

GNP is always?

The necessary condition for equilibrium position of a firm is?

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

The traditional economy is characterised by?

The banks can give loans?

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

A closed economy is one which?

Profit is maximum when?

Which of the following is the second law of Gossen ?

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

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

A firm earns economic profit when total profit exceeds?

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