M C Q s D r i v e
03079682698
mcqsdrive@gmail.com
About
Contact

Contact Info

03079682698

mcqsdrive@gmail.com

Ad Banner

Economics Mcqs 4423 MCQs [All-Courses]

thumb


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

Adam smith’s invisible hand concept suggests that a competitive market outcome ?
A maximizes total surplus
B generates equality among the members of society
C minimizes total surplus
D both maximizes total surplus and generates equality among the members of society
Correct Answer: maximizes total surplus
Suppose that the price of a new bicycle is Rs300 Natalie values a new bicycle at Rs 400 it costs Rs200 for the seller to produce the new bicycle. What is the value of total surplus if Natalie buys a new bike ?
A Rs500
B Rs300
C Rs200
D Rs400
Correct Answer: Rs300
The seller’s cost of production is ?
A none of these answers.
B the minimum amount the seller is willing to accept for a good
C the seller’s producer surplus
D the maximum amount the seller is willing to accept for a good
Correct Answer: the minimum amount the seller is willing to accept for a good
If a benevolent social planner chooses to producer less than the equilibrium quantity of a good, then ?
A total surplus is maximized
B the value placed on the last unit production by buyers exceeds the cost of production.
C producer surplus is maximized
D the cost of production on the last unit produced exceeds the value placed on it by buyers.
Correct Answer: the value placed on the last unit production by buyers exceeds the cost of production.
Producer surplus is the area ?
A below the supply curve and above the price
B below the demand curve and above the supply curve
C below the demand curve and above the price
D above the demand curve and below the price
Correct Answer: above the demand curve and below the price
An increase in the price of a good along a stationary demand curve ?
A improves the material welfare of the buyers.
B decrease consumer surplus
C improves market efficiency.
D increase consumer surplus.
Correct Answer: decrease consumer surplus
A buyer’s willingness to pay is that buyer’s ?
A minimum amount they are willing to pay for a good
B producer surplus.
C consumer surplus
D maximum amount they are willing to pay for a good
Correct Answer: maximum amount they are willing to pay for a good
Jamil has ten pairs of football boots and saleem has none. A pair of football boots cost Rs50. to produce. If jamil values an additional pair of boots at RS100 and saleem values a pair of boots at Rs40, then the maxime ?
A efficiency Saleem should receive the glove
B Efficiency Jamil should receive the glove
C equity Jamil should receive the glove
D consumer surplus both should receive a glove
Correct Answer: Efficiency Jamil should receive the glove
Medical care clearly enhance people’s lives. Therefore, we should consume medical care until ?
A everyone has as much as they would like
B the benefit buyers place on medical care is equal to the cost of producing it
C buyers receive no benefit from another unit of medical care.
D we must cut back on the consumption of other goods.
Correct Answer: the benefit buyers place on medical care is equal to the cost of producing it
If a market is efficient then_______?
A the market allocates buyers to the sellers who can produce the good at least cost
B all these answers
C none of these answers
D the quantity produced in the market maximizes the sum of consumer and producer surplus
Correct Answer: all these answers
03079682698
mcqsdrive@gmail.com

Copyright @ 2026 MCQsDrive . All Rights Reserved.