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

H

HaRaL Official 25 - May - 2024 00 Min 10 Sec 20/20
S

Shad Ali Shah 26 - Jul - 2024 10 Min 11 Sec 17/20
S

sarmad fida 06 - Jun - 2024 06 Min 45 Sec 16/20
H

Hassam Shahid 30 - Jun - 2024 07 Min 25 Sec 16/20
M

M.Shakeel Arshid Waince 03 - May - 2024 06 Min 11 Sec 15/20
G

graphic angel 27 - Jul - 2024 04 Min 13 Sec 14/20
S

Sadia 13 - Jun - 2024 06 Min 49 Sec 14/20
A

Abdul Qayyum 25 - May - 2024 07 Min 00 Sec 14/20
M

Muhammad Sajjad 17 - Nov - 2024 12 Min 30 Sec 14/20
A

Asifa Baloch 12 - Jul - 2024 00 Min 13 Sec 13/20
M

Madiha Naz 23 - Apr - 2024 05 Min 41 Sec 13/20
I

Imran Haider 06 - Jun - 2024 11 Min 32 Sec 13/20
R

Rai Hasis 02 - Jun - 2024 04 Min 56 Sec 12/20
A

Abdul latif 14 - May - 2024 07 Min 28 Sec 12/20
A

Abida Awan 31 - Jul - 2024 08 Min 50 Sec 12/20

PPSC Economics Chapter 1 Important MCQ's

Sr.#	Question	Answer
1	There are three fundamental questions every society must answer Which of the following is one of these questions.	A. What goods and services are to be produced. B. How are the good and services to be produced. C. Who will get the goods and services what are produced. D. All of the above
2	The marginal Revenue product is.	A. Upward sloping due to the law of demand B. Upward sloping due to the law of marginal utility C. Downward sloping due to the law of diminishing returns. D. Downward sloping due to the law of supply
3	GDP plus net property income from aboard equals what.	A. GNP B. NNP C. Depreciation D. Real GDP
4	A profit maximizing firm will employ labour up to the point where.	A. Marginal revenue = Marginal product B. Margial cost = Marginal product C. Marginal revenue product = Average cost of labour D. Marginal revenue product = Marginal cost of labour
5	The bowed shape of the production possibilities curve illustrtres.	A. The law of increasing marginal cost B. the production in inefficient C. That production is inattainable D. The demand is relatively inelastic
6	Which of the following is not a global organization?	A. IMF B. World bank C. Competition commission D. WTO
7	Capital, as economists use the term.	A. Is the money the firm spends to hire resources B. Is money the firm raises from selling stock C. Refers to the process by which resources are transformed into useful forms D. Refers to things that have already been produced that are in turn used to produce other goods and services.
8	If there is a price celling there will be	A. Shortages B. Surpluses C. Equilibrium D. None of these
9	In a free market the combination of products produced will be determined by.	A. Market forces of supply and demand B. The government C. The law D. The public sector
10	Firms in perfect competition face a	A. Perfectly elastic demand curve B. Perfectly inelastic demand curve C. Perfectly elastic supply curve D. Perfectly inelastic supply curve

Latest Educational News Stories

Pakistan's Largest Database of Colleges and Universities

BS Programs

University Past Papers

University Results

Exam Results 2024

Study Abroad Programs and Opportunities for Pakistani Students

PPSC Economics Topic 1 MCQS Test Preparation

MCQ's Test For PPSC Economics Topic 1 Basic Economics