Practise Economics MCQs MCQs in General Knowledge. Attempt multiple-choice questions, check answers and revise related subtopics.
Study Economics MCQs through multiple-choice questions in General Knowledge. This subtopic contains 276 practice questions. Read the wording carefully, compare the options and attempt an answer before checking the solution in learning mode.
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Answer: Indifference to change
Explanation “Cautiously optimistic” indicates a positive outlook while being aware of potential risks. It reflects hopefulness for economic improvement.
ایسی معیشت جس میں پیداوار اور تقسیم کے فیصلے رواج اور روایات کے مطابق کیے جاتے ہیں، اسے کیا کہتے ہیں؟
Answer: Traditional economy
Explanation In a traditional economy , traditions and customs guide what to produce, how to produce, and for whom to produce . Production and distribution are usually handed down through generations. Additional information : Traditional economies are often agriculture-based. Skills and jobs are usually inherited within families. Last verified on 20-01-2026
افقی انڈیفرینس کرو کسی خاص صورت کی نمائندگی کرتا ہے؟
Answer: False
Explanation An indifference curve shows combinations of two goods that give equal satisfaction . Normally, it is downward sloping and convex to the origin due to diminishing MRS. A horizontal indifference curve would mean utility changes only with one good, which is unrealistic in standard theory . Therefore, it does not represent a valid standard case in consumer theory. Last verified on 23-04-2026
جی ڈی پی ڈیفلیٹر کا درست فارمولا کیا ہے؟
Answer: Nominal GDP / Real GDP
Explanation GDP Deflator measures overall price level in an economy. It compares nominal GDP with real GDP. It shows how much prices have changed over time. It is a key tool for measuring inflation . Last verified on 24-04-2026
ایک اچھا کام کرنے والی حکومت نجی منڈی کے مقابلے میں کس چیز کی زیادہ پیداوار کرے گی؟
Answer: A public good
Explanation Private markets mainly produce private goods. Governments step in where markets underproduce socially useful goods. Last verified on 22-04-2026
Answer: Hoarding
Explanation Hoarding refers to keeping money aside without using it for investment. It is money that is saved but not contributing to economic activity. Last verified on 03-04-2026
ایک واؤچر ______ ہوسکتا ہے؟
Answer: All of these
Explanation A voucher is a document that serves as proof of a financial transaction, including bank receipts, wage sheets, and payment bills . It is used in accounting to record expenses, payments, and receipts for audit purposes.
معیشت یا معاشی رویے کے بارے میں معنی خیز بیان کو کیا کہتے ہیں؟
Answer: Both A and B
Explanation Economic theories and principles are statements that explain economic behavior or the functioning of an economy. They help in predicting outcomes and guiding decisions . Theories are general explanations, while principles are fundamental truths. Used by economists, policymakers, and businesses . Aid in understanding markets, production, and consumption. Last verified on 06-02-2026
مارجنل ریونیو پروڈکٹ کَرْو کیا ہے؟
Answer: The demand curve for the input
Explanation Marginal Revenue Product (MRP) is the extra revenue a firm earns from employing one more unit of a factor (like labour). Firms hire inputs based on the value of their contribution to output. The MRP curve shows how much additional revenue each extra unit of input generates. In factor markets , it represents the demand for the input. Therefore, it is the demand curve for the input . Last verified on 23-04-2026
Answer: $16,364
Explanation Real GDP per person = Nominal / (Deflator / 100) = 18,000 / (110 / 100) = 18,000 / 1.10 = $16,363.6 Last verified on 22-04-2026
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