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	Compared to the case of perfect competition, a monopolist is more likely to	A. Charge a higher price B. Produce a lower quantity of the product C. Make a greater amount of economic profit D. All of the above
2	When supply increases in an agricultural market famer's earnings might fall because.	A. Supply is price elastic B. Demand is price inelastic C. the government buys up all the excess production D. All output must be sold at a maximum price
3	Investment depend mainly on.	A. Past levels of income B. Future expected profits C. Present national income levels D. Historic data
4	With a positive externality	A. There is under consumption in the free market B. There is over consumption in the free market C. The government may tax to decrease production D. Society could be made off if less was produced
5	A higher GDP per capita may not mean that the quality of life has really improved because.	A. It measures wealth not income B. It measures Gross Domestic product C. It does not measure the quality of the items produced D. it is only measured every five years
6	If firm earn normal profits.	A. They will aim to leave the industry B. Other firms will join the industry C. The revenue equals total costs D. No profit is made in accounting terms
7	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
8	If labour productivity per week is 200 units and there are 5 employees what is the total output.	A. 40 units B. 195 units C. 1000 units D. 200 units
9	If marginal revenue equals marginal cost	A. No profit is being made B. total revenue equals total cost C. Profits are maximized D. Producing another unit would increase profits
10	Which of the following is necessary for a natural monopoly.	A. Economies of scale B. A high proportion of the total cost is the cost of capital goods C. The market is very small D. All of the above

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