PPSC Economics Topic 6 MCQS Test Preparation

Are you thinking to apply and appear for the PPSC test with the economics subject and are confused that how to get prepared? Well, you are welcomed here at Ilmkidunya where you can get a better solution for PPSC economics subject preparation. Candidates are provided the online PPSC tests. The tests are in the same way as are designed for PPSC final exam. You can find Topic-wise tests and also a full book test. For all the Topic, separate tests are designed. This page directs candidates towards the Topic 6th test. 

MCQ's Test For PPSC Economics Topic 6 Economics Model

Try The MCQ's Test For PPSC Economics Topic 6 Economics Model

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PPSC Economics Topic 6 Economics Model

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Question # 1

The expression increase in quantity supplied is illustrated graphically as a.

Question # 2

In the labor market if the government imposes a minimum wage that is below the equilibrium wage then.

Question # 3

A competitive equilibrium is described by

Question # 4

Suppose the demand curve for a good shifts rightward, causing the equilibrium price to increase this increase in the price of the good results in.

Question # 5

If government regulations prohibit the production of a particular good the demand curve for that good will most likely.

Question # 6

Which of the following is an example of a normative statement.

Question # 7

If a government imposed price celling causes the observed price in a market to be below the equilibrium price.

Question # 8

An increases in the demand curve for orange juice would be illustrated as a.

Question # 9

To determine the total demand for all consumers sum the quantity each consumer demands.

Question # 10

Holding all other factors constant consumers demand more of a good the

Question # 11

Equilibrium is defined as a situation in which.

Question # 12

If the price of automobile were to decrease substantially the demand curve for automobiles would most likely.

Question # 13

If the price of automobiles were to increase substantially the demand curve for gasoline would most likely

Question # 14

The purpose of making assumptions in economic model building is to.

Question # 15

Consumers and firms are known as price takers only it

Question # 16

A vertical demand curve results in.

Question # 17

As the price of a good increases, the change in the quantity demanded can be shown by

Question # 18

If the price of orange juice rises 10% and as a result the quantity demanded falls by 8% the price elastic of demand for orange juice is.

Question # 19

A specific tax on sellers will

Question # 20

A vertical demand curve for a particular good implies that consumers are.

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PPSC Economics Chapter 6 Important MCQ's

Sr.# Question Answer
1 Suppose the demand curve for a good shifts rightward, causing the equilibrium price to increase this increase in the price of the good results in.
A. A rightward shift of the supply curve
B. An increase in quantity supplied
C. A leftward shift of the supply curve
D. A leftward movement along the supply curve
2 A vertical demand curve results in.
A. No change in quantity when the supply curve shifts.
B. No change in price when the supply curve shifts
C. No change in the supply curve being possible
D. No change in quantity when the demand curve shifts.
3 Consumers and firms are known as price takers only it
A. No market exists to determine the equilibrium price
B. they can set the market price
C. They cannot effect the market price
D. Excess demand exists
4 When two goods are substitutes a shock that raises the price of one good causes the price of the other goods to.
A. Remain unchanged
B. Decrease
C. Increase
D. Change in an unpredictable manner
5 Equilibrium is defined as a situation in which.
A. Neither buyers nor sellers want to change their behavior
B. No government regulations exist
C. Demand curves are perfectly horizontal
D. suppliers will supply and amount that buyers wish to buy
6 A specific tax on sellers will
A. shift the demand curve to the right
B. Shift the demand curve the left
C. Shift the supply curve to the right
D. Shift the supply curve to the left
7 The percentage change in the quantity demanded in response to a percentage change in the price is known as the.
A. slope of the demand curve
B. Excess demand
C. Price elasticity of demand
D. All of the above
8 If the price of automobile were to decrease substantially the demand curve for automobiles would most likely.
A. shift rightward
B. Shift left eard
C. Remain unchanged
D. Become steeper
9 If the demand curve for a good is horizontal and the price is positive then a leftward shift of the supply curve results in.
A. a price of zero
B. An increase in price
C. A decrease in price
D. No change in price
10 If the price of automobiles were to decrease substantially the demand curve for public transpiration would most likely.
A. shift rightward
B. Shift leftward
C. Remain unchanged
D. Remain unchanged while quantity demanded would change

Test Questions