ECONOMICS MCQS
Economics Past Paper and other MCQs
چار آپشن میں سے کسی ایک پر کلک کرنے سے جواب سرخ ہو جائے گا۔
اعداد و شمار کے مجموعے میں معیاری انحراف کیا ظاہر کرتا ہے؟
- The average distance from the mean
- The exact values in the data set
- The highest and lowest values
- How many data points there are
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Explanation
- Standard deviation measures how data values are spread out.
- It shows the average distance of data points from the mean.
- Small standard deviation = data is closely packed.
- Large standard deviation = data is widely spread.
Last verified on 24-04-2026
تقابلی برتری کا نظریہ کس نے پیش کیا؟
- Adam Smith
- David Ricardo
- Ohlin
- Hicks
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Explanation
- The Theory of Comparative Advantage explains international trade benefits.
- It was developed by David Ricardo.
- Published in 1817 (Principles of Political Economy and Taxation).
- Countries should specialize in goods where they have lower opportunity cost.
- This increases global efficiency and trade gains.
Last verified on 24-04-2026
سولو گروتھ ماڈل کیا پیش گوئی کرتا ہے؟
- Rich nations will grow faster than poor nations
- The rich will get richer and the poor will get poorer
- The rich will get poorer and the poor will get richer
- Poor nations will grow faster than rich nations
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Explanation
- The Solow Growth Model is a neoclassical growth theory.
- It predicts convergence of income levels across countries.
- Poor countries tend to grow faster due to lower capital stock.
- Rich countries grow slower due to diminishing returns to capital.
Last verified on 24-04-2026
جی ڈی پی ڈیفلیٹر کا درست فارمولا کیا ہے؟
- Nominal GDP - (minus) Real GDP
- Nominal GDP + Real GDP
- Nominal GDP / Real GDP
- Real GDP / Nominal GDP
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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
مندرجہ ذیل میں سے کون سا عمل مجموعی طلب کے منحنی کو بائیں طرف منتقل کر سکتا ہے؟
- An increase in the money supply
- Contractionary demand management policies
- Expansionary demand management policies
- An increase in government spending
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Explanation
- The Aggregate Demand (AD) curve shifts left when total spending in the economy decreases.
- This happens due to contractionary (tight) economic policies.
- It leads to lower consumption, investment, and output.
- Result: economic slowdown.
Last verified on 24-04-2026
پیداواری نظریہ میں قلیل مدت سے کیا مراد ہے؟
- Generally less than three years
- Sufficient to adopt new technology
- During which at least one resource is fixed
- When only labour can be varied
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Explanation
- In short run, some inputs are fixed and some are variable.
- Usually, capital (machines, land) is fixed while labour can change.
- Firms can increase output only by changing variable factors.
- This is a temporary production period.
Last verified on 24-04-2026
یکساں مقابلے کی منڈی میں مصنوعات کی تفریق سے کیا مراد ہے؟
- Offering products that are similar but not identical
- Offering identical products to consumers
- Offering unique products with no substitutes
- Offering products at the same price as competitors
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Explanation
- In monopolistic competition, many firms sell similar products.
- But each firm tries to make its product slightly different.
- This is called product differentiation.
- It helps firms create brand loyalty and competition advantage.
Last verified on 24-04-2026
گھٹیا اشیاء وہ اشیاء ہیں جو؟
- Have zero income elasticity
- Have negative income elasticity
- Have less than one but greater than zero Income elasticity
- People have no preference of consuming
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Explanation
- Inferior goods are goods whose demand decreases when income increases.
- They have a negative income elasticity of demand.
- When people become richer, they buy less of these goods.
- Example: low-quality food, cheap transport.
Last verified on 24-04-2026
- Price of X is greater than price of Y
- MUx > MUy
- The household could increase his total utility by consuming more of X and less of Y
- Household is not spending all his income
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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
کاروباری چکر کا وہ مرحلہ جس میں حقیقی جی ڈی پی بڑھ رہا ہو، اسے کیا کہتے ہیں؟
- Expansion
- Peak
- Recession
- Trough
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Explanation
- The business cycle shows economic ups and downs.
- When real GDP is increasing, the economy is growing.
- This upward phase is called expansion.
- It includes rising income, output, and employment.
Last verified on 24-04-2026
