PPSC Economics Topic 1 Basic Economics

PPSC Economics test is comprised of questions related to the economics subject and general knowledge questions. The PPSC test is, somehow, tough but candidates who prepare properly can easily cover the test. The test is comprised of 100 MCQs and candidates are required to get the maximum of marks to beat the set criteria and competition. In order to get excellent preparation in chapter I of the Economics subjects the team of Ilmkidunya has arranged PPSC online tests. On this page, the candidates can find the online test of chapter I. However, for other chapters’ tests, you will find separate sections and pages. The online test is comprised of 20 MCQs and candidates are offered 20 minutes to cover the test. In this way, candidates get the practice that how to cover the test within the given timeframe.

Top Scorers Of PPSC Economics Topic 1 Basic Economics MCQ`s Test

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HaRaL Official 25 - May - 2024 00 Min 10 Sec 20/20
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Shad Ali Shah 26 - Jul - 2024 10 Min 11 Sec 17/20
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sarmad fida 06 - Jun - 2024 06 Min 45 Sec 16/20
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Hassam Shahid 30 - Jun - 2024 07 Min 25 Sec 16/20
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M.Shakeel Arshid Waince 03 - May - 2024 06 Min 11 Sec 15/20
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graphic angel 27 - Jul - 2024 04 Min 13 Sec 14/20
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Sadia 13 - Jun - 2024 06 Min 49 Sec 14/20
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Abdul Qayyum 25 - May - 2024 07 Min 00 Sec 14/20
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Muhammad Sajjad 17 - Nov - 2024 12 Min 30 Sec 14/20
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Asifa Baloch 12 - Jul - 2024 00 Min 13 Sec 13/20
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Madiha Naz 23 - Apr - 2024 05 Min 41 Sec 13/20
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Imran Haider 06 - Jun - 2024 11 Min 32 Sec 13/20
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Rai Hasis 02 - Jun - 2024 04 Min 56 Sec 12/20
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Abdul latif 14 - May - 2024 07 Min 28 Sec 12/20
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Abida Awan 31 - Jul - 2024 08 Min 50 Sec 12/20

PPSC Economics Chapter 1 Important MCQ's

Sr.#	Question	Answer
1	If firms join together to set prices and quantities this is known as what.	A. Interaction B. Conglomerate C. Collusion D. Integration
2	Developing economics usually have	A. Low GDP per captia B. Low CPI C. Large balance of payments surpluses D. Large budget surpluses
3	An increase in demand for a product should.	A. Increase equilibrium price and quantity. B. Decrease equilibrium price and quantity. C. Increase equilibrium price and decrease quantity. D. Decrease equilibrium price and increase quantity.
4	The standard of living is often measured by	A. Real GDP per capita B. Real GDP C. Real GDP * Population D. Real GDP Plus depreciation
5	Companies in the private sector are owned by	A. The government B. Shareholders C. Employees D. The community
6	According to the law of diminishing utility.	A. Utility is at a maximum with the first unit B. Increasing units of consumption increase the marginal utility C. Marginal product will fall as more units are consumed D. Total utility will rise at a falling rate as more units are consumed
7	An increase in aggregate demand will have most effect on prices if.	A. Aggregate supply is price inelastic B. Aggregate supply is price elastic C. Aggregate supply has a unitary price elasticity D. Aggregate demand is price inelastic
8	For equilibrium in an open four sector economy	A. Actual injections = actual withdrawals B. Planned injections = Planned withdrawals C. Savings = investment D. Government spending = tax revenue
9	Prices that do not always adjust rapidly to maintain equality between quantity supplied and quantity demanded are.	A. Market prices B. Sticky prices C. Fixed prices D. Regulatory prices
10	Why is the law of diminishing marginal returns true.	A. specialization and division of labor B. Spreading the average fixed cost C. Limited capital D. All factors being variable in the long run

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PPSC Economics Topic 1 MCQS Test Preparation

MCQ's Test For PPSC Economics Topic 1 Basic Economics