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	If input price adjusted very slowly to output prices, the Phillip's curve would be.	A. Downward sloping B. Vertical or nearly vertical C. Upward sloping D. Horizontal or nearly horizontal
2	Say's law states that	A. Supply creates its own demand B. Demand creates its own supply C. There is no such things as a free lunch D. Macro economics policy activism is essential to ensure full employment.
3	Which of the following would increase aggregate demand.	A. Increasing saving B. Increasing import spending C. Increasing taxation revenue D. increased investment
4	Exchange rates that are determined by the unregulated forces of supply and demand are.	A. Floating exchange rates B. Pegged exchange rates C. Fixed exchange rate D. Managed exchange rates
5	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
6	The diamond water paradox can be explained by suggesting that the price of a product is determined by.	A. Consumer incomes B. Its marginal utility C. Consumer surplus D. Diminishing marginal utility
7	An increase in the costs of production will	A. Shift demand out wards B. Shift demand in wards C. Shift supply out wards so more is supplied at each and every price all other things unchanged. D. Shift supply inwards
8	Scarcity means that	A. We cannot have everything that we might want B. We have to make choices between the things we desire. C. There are costs to just about any activity we undertake D. We must give up some thing in order to obtain other things.
9	Which of the following is necessary for a natural monopoly.	A. Economies of scale B. A high proportion of the total cost is the cost of capital goods C. The market is very small D. All of the above
10	Resources in an economy	A. Are always fixed B. Can never decrease C. Always increase over time D. Are limited at any moment in time

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