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	The Philips curve shows the relationship between inflation and what?	A. The balance of trade B. The rate of growth in an economy C. The rate of price increases D. Un employment
2	The resources in the economy do not include.	A. Demand B. Land C. Labor D. Capital
3	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
4	An injection of funds into a less developed country might set off the	A. Multiplier B. Marginal propensity to save C. Average propensity to consume D. The Laffer effect
5	Economics growth can be seen by an outward shift of.	A. The production possibility frontier B. The gross domestic barrier C. The marginal consumption frontier D. The Minimum Efficient scale
6	If a few firms dominate an industry the market is known as.	A. Monopolistic competition B. Competitively monopolistic C. Duopoly D. Oligopoly
7	As income increases.	A. the average propensity to consume gets nearer in value to the marginal propensity to consume B. the average propensity to consume diverges in value from the marginal propensity to consume C. the average propensity to consume falls D. The averge propensity to consume always approaches 0
8	The public sector includes.	A. Investors owning companies B. Government ownership of assets C. Market forces of supply and demand D. All trade via barter
9	Economists use the term marginal utility to mean.	A. Additional satisfaction gained divided by additional cost of the last unit. B. Additional satisfaction gained by the consumption of one more unit of a good C. Total satisfaction gained when consuming a given number of units. D. The process of comparing marginal units of all goods which could be purchased
10	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

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