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.

Which of the following is the second law of Gossen ?

According to Pakistan Economic Survey, per capita income of Pakistan in U.S. dollars is?

These are principles of taxation?

Microeconomics concentrates?

Which of the following is a non-economic activity?

Transfer payments are not included in national income because?

Which statement is true?

The most important source of income of a government is?

Taxes on commodities are?


Three basic economic problems?

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

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

Real national income increases when?

Who among the following is a famous economist?


For inferior commodities, income effect is?

Average growth rate of Pakistan’s national income in past five years have been?

Rupee is a coin?

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

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

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

The most important factor in economic development is?

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

Invisible items in balance of payments include?

Balance sheet of a bank has two parts?

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

Adam Smith was a?

The first railway line in India was laid between?

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?

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

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?

A firm earns economic profit when total profit exceeds?

Normative economics?

It is direct tax?

Normal profit is?

Excise tax is a part of?

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

Which one is per capita income?

Who has given scarcity definition of economics ?

Father of political economy?

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

It is considered as transfer payments?

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

The shape of rectangular hyperbola is made by?

Which theory is generally included under micro economics ?

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

Demand deposits are?

The currency of Bangladesh is the?

What is the currency of Myanmar?

Balance of payments of a country includes?

Pakistan is an economy?

Contribution of industrial sector in Pakistan’s GDP is?

At point of satiety, marginal utility is?

Elasticity of Demand explains the relationship between?

Economic law?

He described economics as a science of material welfare?

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

Banks prepare their balance sheet?

The basic goal of a firm is to?

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

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

Investment rate in Pakistan is around?

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

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

In the world population-wise Pakistan is?

The price of a commodity is fixed?

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

Economic problems arise because of?

NI = NE is an?

Passive factor of production is?

Final balance of payments of a country is?

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

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

The Strategy of Economic Development” is the work of?

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

The necessary condition for equilibrium position of a firm is?

This step will increase investment in Pakistan?

Under law of demand?

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

Balance of payments of a country includes?

A closed economy is one which?

Cash cannot be obtained from bank against?

All inputs can be varied?

It creates difficulties in measurement of national income of Pakistan?

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

Where is the headquarters of the European Economic Community?

Population growth rate in Pakistan is?

Balance of payments of a country has parts?

Taxes are levied to?

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

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

Unit cost is another name for?

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

MC is given by?

The National Rural Employment Programme focuses particularly on?

Whom of the following propounded principles of taxation?

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

A positive statement?

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

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