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Economics Mcqs 4423 MCQs [All-Courses]

Economics MCQs cover fundamental concepts of microeconomics and macroeconomics, including demand and supply, inflation, national income, and economic policies.
This section is designed to strengthen analytical skills and conceptual understanding for competitive examinations.
Highly useful for PPSC, FPSC, NTS, OTS, KPPSC, and other testing services preparation.

If demand increase in a market this will usually lead to ?

A A higher equilibrium price and output

B A lower equilibrium price and higher output

C A lower equilibrium price and output

D A higher equilibrium price and lower output

Review Detailed Answer

Correct Answer: A higher equilibrium price and output

Suppose both buyers and sellers of wheat expect the price of wheat to rise in the near future. What would we expect to happen to the equilibrium price and quantity in the market for wheat today ?

A The impact on both price and quantity is ambiguous

B Price will decrease, quantity is ambiguous.

C price will increase, quantity will decrease

D price will increase, quantity is ambiguous.

Review Detailed Answer

Correct Answer: price will increase, quantity is ambiguous.

Suppose there is an increase in the both the supply and demand for personal computers Further, suppose the supply of personal computer increase more than demand for personal computers In the market for personal computers i the market for personal computers, we would expect ?

A the change in the equilibrium quantity to be ambiguous and the equilibrium price to fall.

B the equilibrium quantity to rise and the equilibrium price to rise

C the equilibrium quantity to rise and the change in the equilibrium price to be ambiguous

D the equilibrium quantity to rise and the equilibrium price to fall

Review Detailed Answer

Correct Answer: the equilibrium quantity to rise and the equilibrium price to fall

A decrease (leftward shift) in the supply for a good will tend to cause ?

A an increase in the equilibrium price and quantity

B a decrease in the equilibrium price and an increase in the equilibrium quantity

C none of these answers

D a decrease in the equilibrium price and quantity.

Review Detailed Answer

Correct Answer: an increase in the equilibrium price and quantity

If the price of good is equal to the equilibrium price ?

A there is a shortage and the price will fall

B the quantity demanded is equal to the quantity supplied supplied and the price remains unchanged

C there is surplus and the price will rise

D there is a shortage and the price will rise

Review Detailed Answer

Correct Answer: the quantity demanded is equal to the quantity supplied supplied and the price remains unchanged

Which of the following shifts the demand for watches to the right ?

A an increase in the price of watches

B none of these answers

C a decrease in the price of watch batteries if watch batteries and watches are complements

D a decrease in consumer incomes if watches are a normal good

Review Detailed Answer

Correct Answer: none of these answers

If an increase in consumer incomes leads to a decrease in the demand for camping equipment, then camping equipment is ?

A a normal good

B none of these answers

C an inferior good

D a substitute good

Review Detailed Answer

Correct Answer: an inferior good

The law of demand states that an increases in the price of a good ?

A None of these answers

B decreases the quantity supplied of that good

C decreases the quantity demanded for that good

D increases the quantity supplied of that good

Review Detailed Answer

Correct Answer: decreases the quantity supplied of that good

A perfectly competitive market has ?

A firms that set their own prices

B only one seller.

C at least a few sellers.

D many buyers and sellers.

Review Detailed Answer

Correct Answer: many buyers and sellers.

Satellite television subscription and television detection devices are ways in which broadcasting companies address the ________ problem?

A externality

B market imperfection

C deadweight burden

D free rider

Review Detailed Answer

Correct Answer: free rider

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Economics Mcqs 4423 MCQs [All-Courses]

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All Topics 4423

If demand increase in a market this will usually lead to ?

Suppose both buyers and sellers of wheat expect the price of wheat to rise in the near future. What would we expect to happen to the equilibrium price and quantity in the market for wheat today ?

Suppose there is an increase in the both the supply and demand for personal computers Further, suppose the supply of personal computer increase more than demand for personal computers In the market for personal computers i the market for personal computers, we would expect ?

A decrease (leftward shift) in the supply for a good will tend to cause ?

If the price of good is equal to the equilibrium price ?

Which of the following shifts the demand for watches to the right ?

If an increase in consumer incomes leads to a decrease in the demand for camping equipment, then camping equipment is ?

The law of demand states that an increases in the price of a good ?

A perfectly competitive market has ?

Satellite television subscription and television detection devices are ways in which broadcasting companies address the ________ problem?