PPSCFPSCNTSPakistan govt jobs
- Subject
- Application of Economicseconomics-mcqs › application-of-economics
- Published
- 2 Jun 2019
- Last updated
- 28 May 2026
Explanation
Option A is incorrect because salary payments occur in the market for factors of production, not the goods and services market. Option B is wrong since selling a military aircraft is a transaction in the goods and services market, not the factor market. Option D is correct because households supply and own the factors of production such as labor, land, and capital in the circular-flow diagram.
More Application of Economics MCQs
Practice related questions from the same subject.
- 1.Two economists are debating the impact of government spending on unemployment. One claims that increasing government expenditure by 50 billion dollars would reduce unemployment by one percentage point. The other argues that the same spending would only lower unemployment by 0.1%, and even then, the effect would be short-lived. What best explains their disagreement?
- 2.Which of the following topics falls under the study of microeconomics?
- 3.What are positive statements characterized by?
- 4.Which of the following statements expresses a normative viewpoint?
- 5.Which of the following factors does not cause the production possibilities curve of a country to expand outward?
- 6.Which of the following statements about microeconomics and macroeconomics is incorrect?
- 7.Two economists are debating government policies on unemployment. One claims that combating unemployment is crucial because it is the worst social problem, while the other argues that inflation is the most serious social issue. What does this disagreement indicate about the economists?
- 8.Which of the following statements reflects an economist adopting a scientific approach?
More in Economics Mcqs
- Aggregate Supply, Unemployment And Inflation
- Agriculture & Irrigation System of Pakistan
- Alternative Theories Of The Firm
- Applied Microeconomics
- Asymmetric Information
- Average And Total Cost
- Balance of Payments, Aid and Foreign Investment
- Basic of Economics
- Budget Deficits And The Trade Balance
- Capital Formation, Investment Choice, Information Technology, And Technical Progress
- Characteristics and Institutions of Developing Countries
- Comparative GDP
- Consumer Theory vs. Real Consumers
- Costs , Supply And Perfect Competition
- Development Planning and Policy-making The State, And the Market
- Economic Development in Historical Perspective
- Economic Problems of Developing Countries
- Education, Health, And Human Capital
- Elasticity
- Employment, Migration, And Urbanization
- Entrepreneurship, Organization, And Innovation
- Exchange-Rate Adjustments And The Balance of
- Exchange-Rate Determination
- Exchange-Rate Systems And Currency Crises
- Externality & Internality
- Fiscal And Monetary Policy
- Foreign Exchange
- Foundations Of Modern Trade Theory
- Global Economic Development
- Human Capital
- Income Inequality
- Industrial Development
- Inflation & Productivity
- International Factor Movements And Multinational Corporations
- Introduction To Economics
- Labour Market
- Long Term Economic Growth
- Macroeconomic Issues and Analysis
- Macroeconomic Policy Tools
- Market
- Marketing In A Global Economy
- Markets, Efficiency And The Public Interest
- Miscellaneous Economics Mcqs
- Monetary Union
- Monetary, Fiscal And Incomes Policy, And Inflation
- Money, Interest Rates And Output
- Monopoly
- Monopoly & Competition
- National Income And The Standard Of Living
- Natural Resources and the Environment Toward Sustainable Development
- Non-Tariff Trade Barriers
- Oligopoly
- Population
- Population And Development
- Poverty, Malnutrition, And Income Inequality
- Prices, Wages & Taxes
- Production Factors
- Profit Maximizing Under Perfect Competition And Monopoly
- Public Goods
- Regional Trading Arrangements
- Risks And Diversification & Efficient Market Hypothesis
- Roots of Modern Macroeconomics
- Rural Poverty and Agricultural Transformation
- Sources of Comparative Advantage
- Stabilization, Adjustment, Reform and Privatization
- Stocks
- Supply and Demand
- Supply-Side Policies
- Surplus
- Tariffs
- Taxation
- The Aggregate Demand Aggregate Supply Model
- The Balance of Payments
- The External Debt and Financial Crises
- The International Economy And Globalization
- The Meaning and Measurement of Economic Development
- The National Economy
- The Phillips Curve
- Theories of Economic Development
- Trade Policies For the Developing Nations
- Trade Regulations And Industrial Policies
- World Economy (Miscellaneous)