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Economics Mcqs 4423 MCQs [All-Courses]

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Economics MCQs cover fundamental concepts of microeconomics and macroeconomics, including demand and supply, inflation, national income, and economic policies.
This section is designed to strengthen analytical skills and conceptual understanding for competitive examinations.
Highly useful for PPSC, FPSC, NTS, OTS, KPPSC, and other testing services preparation.

All Topics  4423

Which of the following is not a factor of production ?
A labor
B land
C money
D capital
Correct Answer: money
Which of the following is most likely to produce scientific evidence about a theory ?
A A lawyer employed by Renault addressing the impact of air bags on passenger safety.
B An economist permanently employed at a leading university analyzing the impact of bank regulations on lending to small businesses
C An economist employed by the Trades union congress doing research on the impact of trade policy on workers’ wages
D A radio talk show host collecting data from listeners on how capital markets respond to taxation
Correct Answer: An economist permanently employed at a leading university analyzing the impact of bank regulations on lending to small businesses
In which of the following cases is the assumption most reasonable ?
A To address the impact to taxes on income distribution an economist assumes that everyone earns the same income.
B To address the impact of money growth on inflation, an economist assumes that money is strictly coins.
C To model the benefits of trade. an economist assumes that there are two people and two goods
D To estimate the speed at which a beach ball falls, a physicist assumes that if falls in a vacuum.
Correct Answer: To model the benefits of trade. an economist assumes that there are two people and two goods
Economic models are ?
A Usually made of wood and plastic
B built with assumptions.
C useless if they are simple.
D created to duplicate reality.
Correct Answer: built with assumptions.
Which of the following statements regarding the circular-flow diagram is true ?
A If Susan works for BAe Systems and receives a salary payment, the transaction takes place in the market for good and services.
B If BAe Systems sells a military aircraft, the transaction takes place in the market for factors for production
C None of these
D The factors of production are owned by households
Correct Answer: The factors of production are owned by households
The scientific method requires that ?
A the scientist be objective
B The scientific use precision equipment.
C only correct theories are tested
D only theories are tested.
Correct Answer: the scientist be objective
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