PPSC Economics Topic 6 Economics Models

Top Scorers Of PPSC Economics Topic 6 Economics Model MCQ`s Test

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romana 07 - Dec - 2020 15 Min 32 Sec 17/20
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Shahida 01 - Sep - 2021 04 Min 36 Sec 16/20
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Amjad Ali 08 - Jun - 2023 10 Min 35 Sec 16/20
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queen princes 27 - May - 2022 04 Min 28 Sec 15/20
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Tayyeba 23 - Feb - 2022 06 Min 54 Sec 15/20
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Abdul subhan 28 - Jun - 2021 07 Min 42 Sec 15/20
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Mehmood ul hassan 13 - Nov - 2023 06 Min 54 Sec 13/20
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Shad Ali Shah 27 - Jul - 2024 14 Min 29 Sec 13/20
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Aiza 26 - Jun - 2021 07 Min 57 Sec 12/20
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Shama Suleman 21 - May - 2022 12 Min 38 Sec 12/20
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Ayesha siddiqa 30 - May - 2021 19 Min 38 Sec 12/20
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abuzar 15 - Jul - 2023 13 Min 14 Sec 11/20
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Farhan Islam 24 - May - 2022 06 Min 43 Sec 10/20
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Sobia 04 - Jul - 2021 20 Min 03 Sec 10/20
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Bushra Khalil 27 - May - 2022 09 Min 48 Sec 9/20

PPSC Economics Chapter 6 Important MCQ's

Sr.#	Question	Answer
1	If the price of automobiles were to increase substantially the demand curve for gasoline would most likely	A. Shift leftward B. Shift right ward C. Become flatter D. Become steeper
2	Which of the following is an example of a normative statement.	A. Since this good is bad for you, you should not consume it. B. this good is bad for you C. If you consume this good you will get sick D. People usually get sick after consuming this good
3	The purpose of making assumptions in economic model building is to.	A. Force the model to yield the correct answer B. Minimize the amount of work an economist must do C. simplify the model while keeping important details. D. Express the relationship mathematically.
4	A Horizontal demand curve for a good could arise because consumers.	A. Are irrational B. Are not sensitive to price changes C. View this good as identical to another good D. Have no equivalent substitutes for this good
5	An increases in the demand curve for orange juice would be illustrated as a.	A. Leftward shift of the demand curve B. Right ward shift of the demand curve C. Movement up along the demand curve D. Movement down along the demand curve
6	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
7	For a given positively sloped supply curve the price increase to consumers resulting from a specific tax imposed on sellers will be.	A. Greater the more price elastic demand is B. Greater the less price elastic demand is C. Equal to the entire tax when demand is perfectly elastic D. Equal to half of the tax whenever demand is unit elastic
8	Holding all other factors constant consumers demand more of a good the	A. Higher its price B. Lower its price C. Steeper the downward slope of the demand curve D. Steeper the upward slope of the demand curve
9	To determine the total demand for all consumers sum the quantity each consumer demands.	A. At a given price B. At all prices and then sum this amount across all consumers C. Both a and b will generate the same total demand D. None of the above
10	It is appropriate to use the supply and demand model if in a market.	A. Everyone is a price taker with full information about the price and quantity of the good. B. Firms sell identical products C. Costs of trading are low D. All of the above

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PPSC Economics Topic 6 MCQS Test Preparation

MCQ's Test For PPSC Economics Topic 6 Economics Model

PPSC Economics Topic 6 Economics Model

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

For a given positively sloped supply curve the price increase to consumers resulting from a specific tax imposed on sellers will be.

A Horizontal demand curve for a good could arise because consumers.

Economists tend to judge a model based upon

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

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

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

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

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

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

If price is initially above the equilibrium level.

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.

It is appropriate to use the supply and demand model if in a market.

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.

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

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

Most Microeconomic models assume that decision makers wish to.

A vertical demand curve results in.

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

A specific tax on sellers will

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Top Scorers Of PPSC Economics Topic 6 Economics Model MCQ`s Test

PPSC Economics Chapter 6 Important MCQ's

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