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	In a Boom	A. Surpluses are likely to occur B. Prices are likely to fall C. supply will increase immediately to match demand D. Shortages may occur
2	The demand for a product would be more inelastic.	A. The greater is the time under consideration B. The greater is the number of substitutes available to buyers C. The less expensive is the product in relation to incomes D. all of the above.
3	An increase in costs will	A. Shift aggregate demand B. Shift aggregate supply C. Reduce the natural rate of unemployment D. Increases the productivity of employees
4	Over time the price of primary products tends to fall because.	A. Demand is income elastic B. Supply is income elastic C. Of outward shifts in supply D. Demand is price elastic
5	If the economy grows the government's budget position will automatically	A. Worsen B. Improve C. Stay the same D. Increase with inflaction
6	According to schumpater	A. Monopolies are inefficient B. Monopoly profits act as an incentive for innovation C. Monopolies are allocatively efficient D. Monopolies are productively efficient
7	If there is a price floor there will be.	A. Shortages B. Surpluses C. Equilibrium D. All of these
8	An increase income will	A. Lead to a movement along the demand curve B. Shift the supply curve C. Shift the demand curve D. Lead to an extension of demand
9	If product an inferior good.	A. Demand is inversely related to income B. Demand is inversely related to price C. Demand is directly related to price D. Demand is inversely related to the price of substitutes
10	What does ceteris paribus mean.	A. "Scientific method" B. "Rational thinking" C. "Other things remaining the same" D. "There is no such thing as a free lunc"

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PPSC Economics Topic 1 MCQS Test Preparation

MCQ's Test For PPSC Economics Topic 1 Basic Economics