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 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
2	Most Microeconomic models assume that decision makers wish to.	A. Make themselves as well off as possible B. Act selfishly C. Not cooperate with others D. None of the above
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	If price is initially above the equilibrium level.	A. the supply curve will shift rightward B. The supply curve will shift letward C. Excess supply exists D. All firms can sell as much as they want
5	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
6	If a government imposed price celling causes the observed price in a market to be below the equilibrium price.	A. There will be excess demand B. There will be excess supply C. The curves will shift to make a new equilibrium at the regulated price D. None of the above
7	A vertical demand curve for a particular good implies that consumers are.	A. Sensitive to changes in the price of that good B. Not sensitive to changes in the price of that good. C. Irrational D. Not interested in that good
8	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
9	As the price of a good increases, the change in the quantity demanded can be shown by	A. Shifting the demand curve leftward B. Shifting the demand curve rightward C. Moving down along the same demand curve D. Moving up long the same demand curve
10	The expression increase in quantity supplied is illustrated graphically as a.	A. Leftward shift in the supply curve B. Rightward shift in the supply curve C. Movement up long the supply curve D. Movement down along the supply curve

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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

If the demand curve for a good is horizontal and the price is positive then a leftward shift of the supply curve results in.

When two goods are substitutes a shock that raises the price of one good causes the price of the other goods to.

A vertical demand curve results in.

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

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

Consumers and firms are known as price takers only it

A competitive equilibrium is described by

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

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 specific tax on sellers will

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

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

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

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

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

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

The percentage change in the quantity demanded in response to a percentage change in the price is known as the.

Equilibrium is defined as a situation in which.

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.

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

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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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