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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روسٹو ماڈل کا تیسرا مرحلہ _____ ہے؟
Answer: Take off
Explanation The 5 stages of economic growth are: Stage 1: Traditional Society Stage 2: Preconditions for Take-off Stage 3: Take-off Stage 4: Drive to Maturity Stage 5: Age of high mass consumption
مندرجہ ذیل میں سے کس صورت میں دونوں اصطلاحات ایک ہی معنی نہیں رکھتیں؟
Answer: Changes in real GDP and the GDP deflator
Explanation In economics , some terms are equivalent (same meaning). Nominal GDP = GDP at current prices. Real GDP = GDP at constant prices. Base period = Reference period (used for comparison). But changes in real GDP ≠ GDP deflator (different concepts). Last verified on 22-04-2026
اشیاء نایاب اس لیے ہوتی ہیں کیونکہ معاشرے کی خواہشات ان کو پیدا کرنے کی صلاحیت سے زیادہ ہوتی ہیں۔
Answer: True
Explanation Human wants are unlimited , but resources like land, labor, and capital are limited . Because of this gap, production cannot meet all demands. This situation creates scarcity in economics. So the statement is correct . Last verified on 23-04-2026
معیشت میں "(کمی/قلت)" کی تعریف کیا ہے؟
Answer: Unlimited wants and limited resources
Explanation Scarcity means resources are limited but human wants are unlimited . It is the basic economic problem in every society. People must make choices due to limited resources . It applies to land, labor, capital, and time. It leads to the concept of opportunity cost in economics. Last verified on 11-04-2026
کس مسلم ملک کی فی کس آمدنی سب سے زیادہ ہے؟
Answer: Qatar
Explanation Qatar consistently ranks as the Muslim country with the highest per capita income, driven by its vas t natural gas reserves and small population Qatar: Around $121,610 - $131,400 (PPP). United Arab Emirates (UAE): Around $89,560 (PPP). Kuwait: Around $54,830 (PPP).
مندرجہ ذیل میں سے کون سا دنیا میں سب سے زیادہ چاول پیدا کرنے والا ملک ہے؟
Answer: China
Explanation China is the world's largest producer of rice , making up 30% of global rice production . India is the second largest producer of Rice in the world. Pakistan is the 8th largest rice Producer country in the world.
اقتصادی ترقی سے کیا مراد ہے؟
Answer: When an economic system acquired greater productive capacity
Explanation Economic growth refers to an increase in the productive capacity of an economy. It is measured by the rise in real GDP or output over time . It focuses on quantitative expansion , not qualitative changes. Thus, it means the economy can produce more goods and services. Last verified on 23-04-2026
جب کسی فرم کی طلب زیادہ لچکدار ہو تو کیا ہوتا ہے؟
Answer: The less monopoly power it has
Explanation The Lerner index measures monopoly power. It shows how much price exceeds marginal cost. When demand is more elastic , consumers are more sensitive to price. Firms cannot charge high markups in this case. So, the Lerner index becomes lower . Last verified on 22-04-2026
جب آپ کسی خاص عمل کا انتخاب کرتے ہیں تو اس میں شامل قربانی کو کہتے ہیں؟
Answer: Opportunity Cost
Explanation The sacrifice involved when you choose a particular course of action is called " Opportunity Cost ." It represents the value of the next-best alternative that is forgone or given up when a decision is made.
جب کسی چیز کی طلب کم ہو جائے تو اس کی توازنی قیمت اور مقدار پر کیا اثر پڑتا ہے؟
Answer: Falls; decreases
Explanation Demand shows consumers’ willingness to buy a good. When demand decreases , the demand curve shifts left. This reduces pressure on price in the market. Both price and quantity adjust to a new equilibrium. As a result, price falls and quantity decreases . Last verified on 22-04-2026
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