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	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
2	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.	A. -1.25 B. Inelastic C. Both a and b D. Neither A nor B above
3	In the labor market if the government imposes a minimum wage that is below the equilibrium wage then.	A. Workers who wish to work at the minimum wage will have a difficult time finding jobs. B. Firms will hire fewer workers than without the minimum wage law. C. Some workers may lose their jobs as a result D. Nothing will happen to the wage rate or employment
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	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
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	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	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
9	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
10	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

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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

Most Microeconomic models assume that decision makers wish to.

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

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

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

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

A competitive equilibrium is described by

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

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

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.

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

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

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

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

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

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

Equilibrium is defined as a situation in which.

If price is initially above the equilibrium level.

A specific tax on sellers will

Economists tend to judge a model based upon

A vertical demand curve results in.

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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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