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

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

Question # 2

Consumers and firms are known as price takers only it

Question # 3

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

Question # 4

Most Microeconomic models assume that decision makers wish to.

Question # 5

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

Question # 6

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

Question # 7

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

Question # 8

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

Question # 9

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

Question # 10

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

Question # 11

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

Question # 12

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 # 13

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

Question # 14

If price is initially above the equilibrium level.

Question # 15

A specific tax on sellers will

Question # 16

A vertical demand curve results in.

Question # 17

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

Question # 18

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

Question # 19

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

Question # 20

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

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PPSC Economics Chapter 6 Important MCQ's

Sr.# Question Answer
1 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
2 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
3 An increases in the demand curve for orange juice would be illustrated as a.
A. Leftward shift of the demand curve
B. Right ward shift of the demand curve
C. Movement up along the demand curve
D. Movement down along the demand curve
4 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
5 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
6 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
7 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
8 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
9 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
10 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

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