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 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.
2	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
3	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
4	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
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	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
7	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
8	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
9	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
10	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

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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

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

If price is initially above the equilibrium level.

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

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

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

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

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

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

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

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.

Equilibrium is defined as a situation in which.

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

Economists tend to judge a model based upon

A vertical demand curve results in.

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

Most Microeconomic models assume that decision makers wish to.

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

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.

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PPSC Economics Chapter 6 Important MCQ's

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