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	"Income inequality can be high in the free market and should be reduce ".This is an example of what.?	A. Judicial economic statement. B. Positive economic statement C. Formative economic statement D. Normative economic statement
2	Profit is measured by	A. Revenue - Fixed costs B. Fixed cost + revenue C. Revenue - sales D. Revenues - total costs
3	All currencies other than the domestic currency of a given country are referred to as.	A. Reserve currencies B. Neal monies C. Foreign exchange D. Hard currency
4	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
5	Laboratory experiments cannot be performed in economics because.	A. Of resource scarcity B. Economics is a natural science C. Of the difficulty of distinguishing between normative and positive statements. D. Economics is a social science
6	Rapid increases in the price level during periods of recession or high unemployment are known as.	A. Slump B. Stagnation C. Stagflation D. Inflation
7	Economics given can be shown by	A. An inward shift of the production possibility frontier B. A movement down the production possibility frontier C. An outward shift of the production possibility frontier D. A movement up the production possibility frontier
8	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
9	Increase un employment benefits and less incentive to work would.	A. Shift aggregate supply to the right B. Shift aggregate supply to the left C. Shift aggregate demand to the right D. Shift aggregate demand to the left
10	When internal economics of scale occur	A. Total costs fall B. Marginal costs increase C. Average costs fall D. Revenue falls

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