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.

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Economics Mcqs Online With Answers for NTS PPSC Entry Test Classes


Latest Economics Mcqs Online with Answers.

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


Which of the following is an economic flow?

The currency of Bangladesh is the?

What is the currency of Bangladesh?

Which of the following is a non-economic activity?

The National Rural Employment Programme focuses particularly on?

The price of a commodity is fixed?

Working population is percent of total population of Pakistan?

Economic laws are?

The basic goal of a firm is to?

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

Supply usually lags behind in the case of?

Who has given scarcity definition of economics ?

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

It is considered as investment?

At point of satiety, marginal utility is?

Profit is maximum when?

The Law of Diminishing Returns applies to?

Whom of the following propounded principles of taxation?

Which of the following is an economic activity?

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

Macroeconomic deals with?

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

Invisible items in balance of payments include?

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

Under law of demand?

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

Which of the following is not a corporate enterprise?

Pakistan started its first five-year plan in?

Per capita income is?

Balance of payments of a country includes?

The shape of rectangular hyperbola is made by?

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

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

Commercial banks accept deposits and provide?

A positive statement?

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?

Banks prepare their balance sheet?

Which of the following is an example of primary production?

A firm earns economic profit when total profit exceeds?

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

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

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

What is the complete name of the World Bank?

Who among the following is a famous economist?

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

Pakistan’s saving rate is?

The largest sector of Pakistan economy is?

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

Three basic economic problems?

Transfer payments are not included in national income because?

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

Which statement is true?

Microeconomics concentrates?

In Poland the demand of ‘Solidrity’ is for?

The most important factor in economic development is?

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

The concept of economic growth is?

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

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?

Real national income increases when?

Pakistan follows the policy of?

Taxes are levied to?

Ceteris paribus means?

Which statement is true?

Population growth rate in Pakistan is?

What is the main function of money?

Contribution of industrial sector in Pakistan’s GDP is?

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

Excise tax is a part of?

The entrepreneur?

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

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

The cause of high inflation is?

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

The banks can give loans?

Normative economics?

Profit is maximum when?

Identify the school founded by Wilhelm Roscher?

The traditional economy is characterised by?

Who first raised fears of a world food shortage?

This step will increase investment in Pakistan?

Devaluation means?

It creates difficulties in measurement of national income of Pakistan?

Rupee is a coin?

Economics is a science?

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

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

GNP is always?

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

The economy of Brazil is mostly dependent on?

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

If GNP of Pakistan rises, it will encourage?

What is the currency of Myanmar?

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

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

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

Identify the author of “Mathematical Analysis for Economists?

Balance of payments of a country has parts?

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