Is Pay per click (PPC) and Social Media Marketing enough for immediate business boost ?

Well it depends on business nature, however both PPC and SMM are good ways to create awareness, promote services/products and acquire leads. SEO is an important element that you need to consider as it is great for the long run. 

If the business is B2C, then you can promote offers, discounts, contest, pictures, videos and viral contents. If business is B2B then you need to bring up content level to be at the same wavelength with your target audience, for example business owners, managers, CEOs, CTOs, CFOs, Engineers and specialists... content types for B2B can be tips, articles, info-graphics, videos, photos, webinars, etc.

it depended on your business actually, if you site is like amazon and ebay then PPC and SMM are the best and the second chooses for me is affiliate. 

I totally agree with Anis Moussa.....

You can start with the social media & the PPC, but its never enough.

You should have a complete marketing strategy, that covers all the media channel (Online & Offline), PPC & Social Media are integral parts of any marketing strategy.

If you have a limited budget, you can start with the online as its more cost effective, its easier to track and create direct response.

Well both are different concepts yet together can be used which depends on the nature of business and the audience you wish to cater

Social media are better for the immediate response & PPC are best for the future ahead as they grow very slowly, but effective in future.

Yes, Definitely. 

YES

No. You need to use all digital channels for your business boost like referral programs, subject matter expert content articles and SEO optimization

yes, for immediate but short business boost, and of course not for all tyoes of businesses