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	The law of diminishing returns assumes.	A. There are not fixed factors of production B. There are no variable factors of production C. Utility is maximized when marginal product falls. D. Some factors of production are fixed
2	Japan's low interest rates in the mid 80's were due to.	A. High rates of domestic savings. B. A decrease in Japan's exports C. Increases in the U.S. deficit D. High rates of domestic spending in Japan
3	The sacrifice involved when you choose a particular course of action is called the	A. Alterative B. Opportunity cost C. Consumer cost D. Producer cost
4	When an economy first begins to frow more slowly.	A. GDP increase B. Inflation is likely to increase C. Stock levels are likely to increse D. Investment in equipment is likely to increase
5	Which of the following would decrease aggregate demand.	A. Increased consumption B. Increasing export revenue C. Increased taxation revenue D. Increased investment
6	If firms join together to set prices and quantities this is known as what.	A. Interaction B. Conglomerate C. Collusion D. Integration
7	A profit maximizing firm in perfect competition produces where	A. Total revenue is maximized B. Marginal revenue equals zero C. Marginal revenue equals marginal cost D. Marginal revenue equals average cost
8	If a maximum price is set below equilibrium there will be.	A. A price fall B. A price increase C. Excess supply D. Excess demand
9	According to Keynes, the level of employment is determined 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.
10	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

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PPSC Economics Topic 1 MCQS Test Preparation

MCQ's Test For PPSC Economics Topic 1 Basic Economics