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	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
2	The profit per scale is a measure of.	A. Profit B. Profitability C. Feasibility D. Realism
3	An independent assessment of the impact of firm's activities on society is called a.	A. Financial audit B. Balance sheet C. Profit and uses account D. Social audit
4	The fundamental economic problem faced by all societies is.	A. Unemployment B. Inequality C. Poverty D. Scarcity
5	If the price elasticity of demand for a product in market A is -0.2 and in market B is -3 a price discriminator will charge.	A. The higher price in market A B. The higher price in market B C. The same price in both markets D. There are many sellers
6	The resources in an economy are	A. Constantly increasing B. Fixed at any moment C. Constant decreasing D. Able to be transferred easily between industries
7	To prevent the external value of the currency from failing the government might	A. Reduce interest rates B. Sell its own currency C. Buy its own currency with foreign reserves D. Increase its own spending
8	A movement along the demand curve may be caused by	A. A change in income B. A change en the number of buyers C. A change in advertising D. A shift in supply
9	If firm earn normal profits.	A. They will aim to leave the industry B. Other firms will join the industry C. The revenue equals total costs D. No profit is made in accounting terms
10	To adjust GDP from market prices to factor cost.	A. Add indirect taxes B. Subtract subsidies C. Deduct indirect taxes and subsides D. Deduct indirect taxes and add subsides

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PPSC Economics Topic 1 MCQS Test Preparation

MCQ's Test For PPSC Economics Topic 1 Basic Economics