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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graphic angel 27 - Jul - 2024 04 Min 13 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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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 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
2	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
3	Economic theory assumes that people	A. Act in greedy and selfish ways, without regard for the welfare of others. B. Act without regard for their own interests. C. Are not motivated by self interest D. Are motivated by self interest but still might be concerned for the welfare of others.
4	Globalization is made more difficult by	A. The actions of the World Trade Organization B. The removal of protectionist measures C. Exchange rate instability D. More free trade agreements
5	Investment is an out stable element of aggregate demand because is depends heavily on.	A. Government policy B. Expectations C. National income D. Historic trends
6	According to classical models the level of employment is determined primarily by	A. Interest rates B. The level of prices C. The level of aggregate supply in the economy D. The level of aggregate demand for goods and services
7	When marginal revenue equals marginal cost	A. Total revenue equal total cost B. There is the biggest positive difference between total revenue and total cost C. there is the biggest negative difference between total revenue and total cost. D. Profits are zero
8	Economists use the term utility to mean	A. The value of a product before it has been advertised B. The satisfaction a consumer obtains from a good or service C. any characteristic of a good or service which cannot be measured D. The contribution a good or service makes to social welfare
9	Which of the following is a normative statement in economics.	A. More spending by the government reduces poverty B. Higher taxes lead to less desire to work C. the UK Economy is growing fast relative to other European Union members D. The Government should concentrate on reducing unemployment
10	Inflation.	A. Reduces the cost of living B. Reduces the standard of living C. Reduce the price of products D. Reduces the purchasing power of a price

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