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	A scarce good.	A. Does not exist B. Is a good that can only be purchased with money C. Is a good that can never be purchased with money D. Is a good that is available in limited quantities, but is desired in greater quantities.
2	An increase in aggregate demand is more likely to lead to demand pull inflation if.	A. Aggregate supply is perfectly elastic B. Aggregate supply is perfectly inelastic C. Aggregate supply is unit elastic D. Aggregate supply is relatively elastic
3	A supply curve that starts at the origin has	A. A price elasticity of supply greater than one B. A price elasticity of supply equal to one C. A price elasticity of supply less than one D. A positive price elasticity of supply
4	Demand pull inflation may be caused by	A. An increase in costs B. A reduction in interest rate C. A reduction in government spending D. An outward shift in aggregate supply
5	The price mechanism does not act as a	A. Signal B. Incentive C. Rationing device D. Indicator of income
6	A subsidy paid to producers.	A. Shifts the supply curve B. Shifts the demand curve C. Leads to a contractional supply D. Leads to an extension of supply
7	In the long run in perfect competitiion	A. the price equals the total revenue B. Firm are allocatively inefficient C. Firms are productively efficient D. the price equals total cost
8	An increase in aggregate demand if aggregate supply is totally inelastic will.	A. Increase price but not output B. Increase output but not price C. Increase out put and price D. Decrease output and price
9	Any combination of products inside the production possibility frontier is	A. Allocatively inefficient B. X inefficient C. Consumer inefficient D. Productively inefficient
10	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

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