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	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	An increase in price all other, things unchanged leads to.	A. Shift demand outwards B. Shift demand inward C. A contraction of demand D. An extension of demand
4	A reflationary policy	A. Increases aggregate supply B. Increases aggregate demand C. Decreases the price level D. Increase full employment
5	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
6	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
7	To anticipate what the economy is going to do next the government will look at.	A. Lagging indicators B. Flashing indicators C. Coincidental iindicators D. Leading indicators
8	To maximize sales revenue a firm should produce where	A. Marginal cost is zero B. Marginal revenue is maximized C. Marginal revenue is zero D. Marginal revenue equals marginal cost
9	When internal economics of scale occur	A. Total costs fall B. Marginal costs increase C. Average costs fall D. Revenue falls
10	The concept of "Interdependence of markets" can refer to the interdependence between.	A. Two or more factor markets B. Goods and factor markets C. Goods markets D. All of the above

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