PU COM 2026 Introduction to Economics Free Quiz 1

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PU COM 2026 Introduction to Economics Free Quiz 1

PU COM Quiz

10:00

Answered: 0 / 10

Remaining: 10

Navigator 10 Q

General

General 10 MCQs

1. What is the definition of economics?

A. How scarce resources are allocated to satisfy unlimited wants B. How to earn money C. How to produce goods only D. How governments control markets

2. What does microeconomics study?

A. The economy as a whole B. International trade C. Individual consumers and firms D. Government policies

3. What does macroeconomics study?

A. Individual consumer behavior B. The economy as a whole C. Firm production decisions D. Market structures

4. What is scarcity in economics?

A. Abundance of resources B. Equal distribution of wealth C. High production levels D. Limited resources with unlimited wants

5. What is choice in economics?

A. Selecting one option among alternatives B. Selecting all options C. Having no options D. Eliminating all options

6. What is opportunity cost?

A. Total cost of production B. Money cost C. Value of the next best alternative foregone D. Marginal cost

7. What are the four factors of production?

A. Land, labor, money, technology B. Land, labor, capital, entrepreneurship C. Land, labor, machinery, organization D. Land, money, capital, entrepreneurship

8. What does "land" mean in economics?

A. Only agricultural land B. Only forests C. Only water resources D. All natural resources

9. What is labor in economics?

A. Human effort B. Machinery C. Natural resources D. Money

10. What does capital refer to in economics?

A. Money B. Natural resources C. Man-made resources like machinery D. Human skills

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Conducting Body: University of The Punjab (PU)

Frequency: Bi-Annual | Time: 80 Minutes

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⚡ Test Pattern (Total: 100 MCQs):

English: 20 MCQs
Accounting: 20 MCQs
Economics: 20 MCQs
Quantitative Reasoning: 20 MCQs

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