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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

In Game Theory ?
A Firms are assumed to act independently
B Firms are assumed to cooperate with each other
C Firms collude as part of cartel
D Firms consider the actions of others before deciding what to do
Correct Answer: Firms consider the actions of others before deciding what to do
In the kinked Demand Curve theory it is assumed that ?
A An increase in price by the firm is not followed by others
B An increase in price by the firm is followed by others
C A decrease in price by the firm is followed by others
D Firms collude to fix the price
Correct Answer: An increase in price by the firm is not followed by others
If a few firms dominate an industry the market is known as ?
A monopolistic competition
B Competitively monopolistic
C Duopoly
D Oligopoly
Correct Answer: Oligopoly
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