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

  • Total Questions20

  • Time Allowed20

Start Test Download PDF

PPSC Economics Topic 6 Economics Model

00:00
Question # 1

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 # 2

A competitive equilibrium is described by

Question # 3

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

Question # 4

A specific tax on sellers will

Question # 5

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

Question # 6

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

Question # 7

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

Question # 8

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

Question # 9

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

Question # 10

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

Question # 11

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

Question # 12

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

Question # 13

Most Microeconomic models assume that decision makers wish to.

Question # 14

A vertical demand curve results in.

Question # 15

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

Question # 16

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.

Question # 17

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

Question # 18

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

Question # 19

Consumers and firms are known as price takers only it

Question # 20

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

Submit

Prepare Complete Set Wise PPSC Economics Topic 6 Economics Model MCQs Online With Answers


Topic Test

00:00
Submit

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

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

PPSC Economics Chapter 6 Important MCQ's

Sr.# Question Answer
1 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
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 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
4 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
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 If the demand curve for a good is horizontal and the price is positive then a leftward shift of the supply curve results in.
A. a price of zero
B. An increase in price
C. A decrease in price
D. No change in price
7 Economists tend to judge a model based upon
A. the realty of its assumptions
B. The accuracy of its predications
C. Its simplicity
D. Its complexity
8 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
9 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
10 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

Test Questions

Is this page helpful?