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	Demand for primary products is likely to be	A. Very sensitive to price B. Price elastic C. Unit elastic D. Income inelastic
2	A contraction in supply occurs when	A. Demand shifts out wards B. The supply curve shifts inwards C. The quantity supplied falls when the price falls D. The supply curve shifts outwards
3	Compared to the case of perfect competition, a monopolist is more likely to	A. Charge a higher price B. Produce a lower quantity of the product C. Make a greater amount of economic profit D. All of the above
4	A supply curve that starts at the origin has	A. A price elasticity of supply greater than one B. A price elasticity of supply equal to one C. A price elasticity of supply less than one D. A positive price elasticity of supply
5	The fundamental economic problem faced by all societies is.	A. Unemployment B. Inequality C. Poverty D. Scarcity
6	If marginal revenue equals marginal cost	A. No profit is being made B. total revenue equals total cost C. Profits are maximized D. Producing another unit would increase profits
7	If there is a price floor there will be.	A. Shortages B. Surpluses C. Equilibrium D. All of these
8	Which of the following is true.	A. If the marginal cost is greater than the average cost the average cost fallls. B. If the marginal cost is greater than the average cost the average cost increases. C. If the marginal cost is positive total costs are maximized D. If the marginal cost is negatives total costs increase at a decreasing rate if output increases
9	A deflationary policy could include	A. Increasing injections B. Reducing taxation rates C. Reducing interest rates D. Reducing government spending
10	To be allocatively efficient ta firm must produce where	A. the total cost equals demand B. the average revenue equals the marginal revenue C. The price equals the average cost D. The price equals the marginal cost

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