PrepPro AcademyPrepPro.Academy
PrepPro Academy
PrepPro.AcademyLearning Portal
زبان
سائن اِنمفت جوائن کریں
All Subjects
Capital University of Science and Technology (CUST)10 سوالات

Economics MCQs

Practice Economics multiple-choice questions for Capital University of Science and Technology (CUST) competitive exams. Each question includes the correct answer and a short explanation, and past-paper questions are marked so you can revise both repeated and fresh material in one place.

View Active Exams Start Custom Exam
Market surplus
Market shortage
Market equilibrium
Price floor
وضاحتEquilibrium occurs at the price level where the supply curve and demand curve intersect, meaning quantity supplied equals quantity demanded.
As consumption increases, total utility decreases
As more of a good is consumed, the satisfaction from each additional unit declines
Prices always rise as demand increases
Utility is constant regardless of quantity consumed
وضاحتThe law states that the marginal utility of a good decreases as a consumer acquires more units of it.
Price increases
Price decreases
Price remains the same
Quantity increases
وضاحتA decrease in supply (a leftward shift of the supply curve) against a constant demand leads to higher equilibrium prices.
Perfect Competition
Monopolistic Competition
Oligopoly
Monopoly
وضاحتA monopoly exists when a single firm dominates the market and there are significant barriers preventing others from entering.
The total value of all goods and services produced within a country's borders in a period
The total wealth owned by citizens of a country
The total amount of currency in circulation
The balance of trade surplus or deficit
وضاحتGDP is the standard measure of the value added through the production of goods and services in an economy.
It shifts to the left
It shifts to the right
There is movement along the curve
The curve becomes vertical
وضاحتFor normal goods, an increase in income increases the quantity demanded at every price, shifting the demand curve to the right.
Differentiated products
High barriers to entry
Many buyers and sellers with no individual market power
Only one dominant firm
وضاحتIn perfect competition, there are many buyers and sellers, products are homogeneous, and there are no barriers to entry or exit.
A decrease in the general level of prices
A sustained increase in the general price level of goods and services
An increase in the value of the national currency
A period of high unemployment
وضاحتInflation refers to the general increase in prices and fall in the purchasing value of money.
The money spent on the action
The value of the next best alternative foregone
The total cost of production
The marginal utility of the action
وضاحتOpportunity cost is the benefit that is missed or given up when choosing one alternative over another.
Inelastic
Unit elastic
Elastic
Perfectly inelastic
وضاحتIf elasticity > 1, consumers are highly responsive to price changes, meaning demand is elastic.

Frequently Asked Questions

Are these Economics MCQs free?

Yes. Every Economics MCQ on this page is free to practice, including the correct answer and explanation.

Do these include past-paper questions?

Yes — questions sourced from past papers are clearly marked with a "Past Paper" badge, alongside fresh practice questions.

Which exams do these Economics MCQs help with?

They are aimed at Capital University of Science and Technology (CUST) and related Pakistani competitive exams that test Economics.

How should I practice subject-wise MCQs?

Attempt each question first, then reveal the answer and read the explanation. Short, focused sessions on one subject work better than long unstructured reading.

ہم کوکیز استعمال کرتے ہیں

ہم پلیٹ فارم کو چلانے کے لیے ضروری کوکیز اور استعمال سمجھنے کے لیے analytics کوکیز استعمال کرتے ہیں۔ آپ analytics اور advertising کوکیز قبول یا رد کر سکتے ہیں۔