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 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
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	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
4	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
5	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.
6	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
7	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
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 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
10	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

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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

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

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

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

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.

Most Microeconomic models assume that decision makers wish to.

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

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

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

A competitive equilibrium is described by

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

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

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

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

Economists tend to judge a model based upon

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

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

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

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

Consumers and firms are known as price takers only it

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

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PPSC Economics Chapter 6 Important MCQ's

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