Economics MCQs MCQs - General Knowledge Practice | PakExamPoint
Practise Economics MCQs MCQs in General Knowledge. Attempt multiple-choice questions, check answers and revise related subtopics.
Economics MCQs MCQs and revision practice
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.
Use these Economics MCQs MCQs to identify the facts, rules or methods you need to revise. Where an explanation is available, work through it and write down why your chosen option was correct or incorrect. Revisit difficult questions after reviewing your notes, then use exam mode for timed practice.
A. The household could increase his total utility by consuming more of X and less of Y
B. Household is not spending all his income
C. Price of X is greater than price of Y
D. MUx > MUy
Check answer and explanation
Answer: The household could increase his total utility by consuming more of X and less of Y
Explanation Consumers maximize utility when MUx/Px = MUy/Py . Here, MUx/Px > MUy/Py means good X gives more satisfaction per rupee. So the consumer should buy more X and less Y . This increases total utility until equilibrium is reached. Last verified on 24-04-2026
ایک فرم کریڈٹ پر سامان خریدتی ہے ، فرم اس کی اطلاع دینے کے لئے کون سی دستاویز استعمال کرتی ہے؟
A. Purchase invoice
B. Credit note
C. None of these
D. Sales invoice
Check answer and explanation
Answer: Purchase invoice
Explanation When a firm buys goods on credit, it receives a purchase invoice from the supplier. This document serves as an itemized bill that acknowledges a credit purchase has been made and specifies the amount owed and the payment terms.
بڑے ڈیٹا کی پروسیسنگ سے کون سا مسئلہ حاصل ہوتا ہے؟
A. Computational complexity
B. All of these
C. Storage limitations
D. Data redundancy
Check answer and explanation
Answer: All of these
Explanation Large datasets require massive storage capacity and powerful processing resources, leading to high costs and computational complexity . Big data often contains redundancy, inconsistencies, and requires efficient management systems to ensure accuracy and accessibility.
Explanation The lion's share of the UN's (United Nations) budget, particularly its regular budget, focuses heavily on: Peacekeeping operations Humanitarian aid Economic and social development Human right
Explanation Elasticity measures responsiveness of quantity demanded to price change. If elasticity is less than 1 (in absolute value), demand is inelastic . Here, -0.5 shows small response to price changes. So demand does not change much when price changes. Last verified on 24-04-2026
A. A sum of money received on a regular basis as one of a series of fixed payments
B. A financial product designed to pay out a stream of payments to the holder at a later point in time
C. Annual payment of dues
D. Both a and b
Check answer and explanation
Answer: Both a and b
Explanation An annuity involves regular fixed payments received over time. It is often a financial product purchased from an insurance or financial institution. Annuities are commonly used for retirement income.
اگر مالیاتی پالیسی ٹیکس میں کمی کے ذریعے معاشی استحکام اور ترقی کو فروغ دینے کی کوشش کر رہی ہو تو یہ کس قسم کی پالیسی ہوگی؟
A. Tight Money Policy
B. Expansionary Fiscal Policy
C. Easy Money Policy
D. Restrictive Fiscal Policy
Check answer and explanation
Answer: Expansionary Fiscal Policy
Explanation Tax cuts increase disposable income of people. This leads to higher consumption and investment . It increases aggregate demand and economic growth. Such policy is called Expansionary Fiscal Policy . Last verified on 24-04-2026
Explanation The Village Agriculture and Development (VAD) program was launched to improve rural economy in 1952 . It focused on increasing agricultural productivity and village development. Such programs were introduced in the early years after independence in South Asia. The aim was to modernize farming and improve rural living standards. Last verified on 23-04-2026
معیشت میں معیارِ زندگی کی تبدیلی کو وقت کے ساتھ ماپنے کے لیے بہترین پیمانہ کون سا ہے؟
A. Nominal GDP per capita
B. Real GDP per capita
C. Real GDP
D. Output per labour hour of output
Check answer and explanation
Answer: Real GDP per capita
Explanation The standard of living refers to how well people live in an economy over time. The best measure should reflect both income and population changes . Therefore, real GDP per capita is the most accurate indicator. It adjusts for inflation and shows output per person. Last verified on 23-04-2026
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