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

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

Question # 2

If price is initially above the equilibrium level.

Question # 3

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

Question # 4

A specific tax on sellers will

Question # 5

Most Microeconomic models assume that decision makers wish to.

Question # 6

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

Question # 7

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

Question # 8

Consumers and firms are known as price takers only it

Question # 9

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

Question # 10

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 # 11

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

Question # 12

A competitive equilibrium is described by

Question # 13

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

Question # 14

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

Question # 15

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

Question # 16

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

Question # 17

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

Question # 18

Equilibrium is defined as a situation in which.

Question # 19

Economists tend to judge a model based upon

Question # 20

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

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PPSC Economics Chapter 6 Important MCQ's

Sr.# Question Answer
1 If government regulations prohibit the production of a particular good the demand curve for that good will most likely.
A. Shift leftward
B. Shift rightward
C. Remain unchanged
D. Disappear
2 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
3 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
4 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
5 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
6 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
7 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
8 A competitive equilibrium is described by
A. A price only
B. A quantity only
C. The excess supply minus the exceess demand.
D. A price and a quantity
9 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
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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