PPSC Past Papers MCQs

PPSC INSTRUCTOR (BS 17) Management and Professional Development Department 0000  — 77 MCQs  (Page 4 of 8)

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The “Factors of Production” are:
  • A. Land and labour
  • B. Capital and organisation
  • C. All of them
  • D. None of them
The “Law of demand” is based upon:
  • A. Law of diminishing marginal utility
  • B. Law of increasing returns ·
  • C. Principle of decreasing income level’
  • D. Formula of investment viz a viz profitability
“Giffen’s Paradox” explains the relationship between:
  • A. Supply and demand
  • B. Price and demand
  • C. Supply and price
  • D. Income and demand
“Equilibrium’means:
  • A. A state of balance
  • B. An art of keeping the business profitable
  • C. Dealing with two competitors simultaneously
  • D. Maintaining relationship between investment and profit
Macro-economics is also called:
  • A. Income theory
  • B. Price theory
  • C. Business theory
  • D. Investment theory
Economics is basically:
  • A. A positive science
  • B. A normative science
  • C. Both of them
  • D. None of them
A “Normative Science” explains:
  • A. What is?
  • B. What ought to be?
  • C. What will be?
  • D. Investment theory
“Micro” means:
  • A. A tenth part
  • B. A thousandth part
  • C. A hundredth part
  • D. A millionth part
Economics is also called as
  • A. An art of possibility
  • B. A science of choices
  • C. A game of money
  • D. A circus of, fortune