FBISE Principles of Economics HSSC-1 Model Paper & Past Paper #exam #fbise_exams #arts #education

Added: 2026-05-20

[00:00:03]Assalamu alaikum students.

[00:00:07]I'm principles of economics first year uh model paper or past paper go through principles of economics. The first section was section A 15 marks total or multiple choice questions right answer already who defined economics as a science of wealth.

[00:00:54]Adam Smith is the right answer for this.

[00:01:00]Adam Smith.

[00:01:03]When marginal utility is zero, total utility will be maximum.

[00:01:22]zada.

[00:01:26]Number three is when the demand of a product rises due to factors except price, it will be rise in demand.

[00:01:36]B is the right answer.

[00:01:48]Number four is if Prices of sugar falls by 10% and its demand increases by 40%.

[00:01:56]The elasticity of demand will be poor.

[00:02:12]C is the right answer.

[00:02:16]Number number five is Supply curve shifts to the right due to technology may improvement in technology technology.

[00:02:38]You can go through the next multiple choice questions. I already picked the right answers here.

[00:03:03]It's about section B.

[00:03:08]Section B question number two answer any nine parts briefly nine parts answer total pass 12 question each question carry four marks I can go through the question these are the most important topics you have to you have to go through what is meant by economic problem with the help of given table calculate the income elasticity of demand and indicate the nature of product. This is the table given. You have to calculate and uh show the income elasticity of demand and indicate the nature of product. Number three is differentiate between supply and stock. Number four is what will be the effect on equilibrium price P and quantity Q if demand and supply fall with equal proportion explained by diagram. diagram is show. Number five is briefly explain the following total cost, average cost, marginal cost. Number six is what is meant by inflation.

[00:04:20]Number seven is what is meant by the law of diminishing returns.

[00:04:26]Number seven is differentiate between money capital and real capital.

[00:04:31]Number nine is what is meant by net n national product NNP. Number 10 is write down any four characteristics of trade cycle.

[00:04:43]Number 11 is write down any four advantages of international trade.

[00:04:49]Number 12 is differentiate between direct taxes and indirect taxes.

[00:04:54]So these are the most important topics.

[00:04:57]Make sure you go through these topics.

[00:05:00]The chances of these questions are very very high in the final term.

[00:05:08]Now final section is section C. Attempt any two questions from section C. These are total three questions. You have to attempt just two. Uh each question carry 12 marks. So make sure you me mention the diagram. If you have any table mentioned in the book, make sure you you mention that table or go into the details about that information. I can go through the the most important topics that you have to go through. Explain the law of demand with the help of schedule and diagram.

[00:05:39]Number question number four is what is meant by perfect competition? How a firm earns normal profit under perfect competition? Explained by a diagram.

[00:05:49]Question number five is explain the cannons of taxation given by Adam Smith.

[00:05:55]So these are the most important topics.

[00:05:57]Make sure you go through these.

[00:06:14]This is the table. Number three is number four.

[00:06:29]diagrams number five.

[00:06:41]So you can go through the rest of the questions. These are the same question in English. So this is in udu total questions question.

[00:06:54]Uh each question carry 12 marks. So make sure you mention everything in detail.

[00:07:05]This is a very important topic. Make sure you go through this topic.

[00:07:22]So these are the most important topics.

[00:07:24]I have also attached a past paper for principles of economics for first year.

[00:07:31]Let's go through some of the main questions from the past paper. So uh the struct the pattern is almost same. First section is section A carries 15 marks total and in first section there will be like multiple choice questions. You have to pick the right answers. We can go through first five and then you can go through the rest of the uh the question.

[00:07:54]How many methods are available to uh derive economic laws? The right answer is two. There are two methods are available to derive economic laws.

[00:08:09]If there is no change in price and the quantity demanded increases, it is called rise of demand.

[00:08:28]positively sloped.

[00:08:35]A is the right answer. Number four is the utility derived from additional unit of a commodity is known as marginal unit. Utility C is the right answer. Number five is elasticity of demand for substitutes and jointly demanded goods is called cross elasticity of demand.

[00:09:15]key mutakata lechuk you can go through the rest of the uh multiple choice questions I can slowly scroll down so you can go through the right answer is already picked Okay.

[00:09:50]In past paper section B, uh the pattern is same for section B as well. Answer any nine parts briefly. So we can go through the most important questions that is mentioned in the past papers. Write any four important points of definition of e economics defined by professor Robbins. Number two is differentiate between stock and supply.

[00:10:12]Number three is what is cross elasticity of demand also writes its formula.

[00:10:18]Number four is write and complete the following table on your answer sheet. So this is a table you have to make sure answer these questions. Number five is make a diagram and show what would be the effect on equilibrium price when demand and supply increase in equal proportions. Number six is differentiate between fixed cost and variable cost.

[00:10:40]Number seven is write any four characteristics of perfectly competitive market.

[00:10:48]Number seven is what is meant by horizontal mobility of labor.

[00:10:55]Number nine is what is meant by net national product and NP writers formula.

[00:10:59]Number 10 is write any four characteristics of barter system of exchange. Number 11 what is meant by inflation.

[00:11:09]This question was also in the model paper. Number 12 is write four important sources of government government income.

[00:11:19]In section C, attempt any two questions.

[00:11:22]Pattern is same for the past paper. We can go through the most important questions here. Explain the law of diminishing marginal utility with the help of schedule and diagram. This is also in the model paper. Number four, explain different situations of a firm equilibrium under perfect competition in short run. This question is a little bit different in the model paper. So the answer would be almost same. Number five, describe in detail the quantity theory of money.

[00:11:55]Same question.

[00:12:00]Professor Robins number two is this is also in the model paper.

[00:12:23]This is a table diagram.

[00:12:34]Number seven is number number eight.

[00:12:48]Number nine is number 10 is number 11.

[00:13:05]Number 12 is these are the most important questions here.

[00:13:27]Question number four is section question number detail answer. So this is the pattern and the most important topics in principles of economics for first year. Make sure you go through all of these topics and if you have any question regarding this paper uh you can leave a comment below. I will see you in the next paper. Till then Allah hop.