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	Sales taxes are generally considered to be.	A. Proportional taxes B. Regressive taxes C. Progressive taxes D. Indirect taxes
2	The best describes consumer surplus.	A. The price consumers are willing to pay for a unit B. The cost of providing a unit. C. The profits made by a firm D. The difference the price a consumer pays for an item and the price he is willing to pay.
3	A mixed economy	A. Has supply but not demand B. Has demand but not supply C. Has supply and demant D. Has market forces and government intervention
4	The fundamental economic problem faced by all societies is.	A. Unemployment B. Inequality C. Poverty D. Scarcity
5	A recurring theme in economics is.	A. People have unlimited wants in the face of limited resources B. There are unlimited resources C. Our country is rich, we just don't realize it D. People have limited wants in the face of limited resource.
6	A public good will	A. Be underprovided in the free market B. Be overprovided in the free market C. Not be provided in the free market D. Has no opportunity cost
7	If product an inferior good.	A. Demand is inversely related to income B. Demand is inversely related to price C. Demand is directly related to price D. Demand is inversely related to the price of substitutes
8	Human wants are	A. Always fixed B. Limited C. Unlimited D. Likely to decrease over time
9	In the long term a firm will produce provident the revenue covers.	A. Fixed costs B. Variable cost C. Total costs D. Revenue
10	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

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