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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 the cross-price elasticity of demand between two goods is negative, then the two goods are ?

A normal goods

B unrelated goods

C Substitutes.

D Complements

Review Detailed Answer

Correct Answer: Complements

The price of burgers increase by 22% and the quantity of burgers demanded falls by 25% This indicates that demand for burgers is ?

A elastic

B perfectly elastic

C unitarily elastic

D inelastic.

Review Detailed Answer

Correct Answer: elastic

The price of apples falls by 5% and quantity demanded increases by 6% This means that demand is ?

A zero elastic

B elastic

C perfectly elastic

D inelastic

Review Detailed Answer

Correct Answer: elastic

A movement along the demand curve to the left may be caused by ?

A a decrease in supply.

B a rise in income

C a fall in the number of substitute goods

D a rise in the price of inputs

Review Detailed Answer

Correct Answer: a decrease in supply.

An increase in aggregate demand if aggregate supply is totally inelastic will ?

A increase price but not output

B increase output but not price

C increase output and price

D decrease output and price

Review Detailed Answer

Correct Answer: increase price but not output

When excess demand occurs in an unregulated market, there is a tendency for ?

A price to fall

B quantity supplied to decrease.

C price to rise

D quantity demanded to increase

Review Detailed Answer

Correct Answer: price to rise

Which of the following is consistent with the law of supply ?

A As the price of calculators rise, the quantity supplied of calculators decreases, ceteris paribus.

B As the price of calculators calls the supply of calculators increases, ceteris paribus.

C As the price of calculators rise, the quantity supplied of calculators increases, ceteris paribus.

D As the price of calculators rise, the supply of calculators increases ceteris paribus.

Review Detailed Answer

Correct Answer: As the price of calculators rise, the quantity supplied of calculators increases, ceteris paribus.

If the demand for coffee decreases as income decreases, coffee is ?

A an inferior good

B a normal good

C a complementary good

D a substitute good

Review Detailed Answer

Correct Answer: a normal good

When the decrease in the price of one good causes the demand for another good to decrease, the goods are_________?

A complements

B substitutes

C inferior

D nromal

Review Detailed Answer

Correct Answer: substitutes

The quantity demanded of Pepsi has decreased. The best explanation for this is that ?

A Pepsi’s advertising is not as effective as in the past .

B The price of Coca Cola has increased,

C Pepsi consumers had an increase in income.

D The price of Pepsi increased

Review Detailed Answer

Correct Answer: The price of Pepsi increased

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Economics Mcqs 4423 MCQs [All-Courses]

All Topics 4423

All Topics 4423

If the cross-price elasticity of demand between two goods is negative, then the two goods are ?

The price of burgers increase by 22% and the quantity of burgers demanded falls by 25% This indicates that demand for burgers is ?

The price of apples falls by 5% and quantity demanded increases by 6% This means that demand is ?

A movement along the demand curve to the left may be caused by ?

An increase in aggregate demand if aggregate supply is totally inelastic will ?

When excess demand occurs in an unregulated market, there is a tendency for ?

Which of the following is consistent with the law of supply ?

If the demand for coffee decreases as income decreases, coffee is ?

When the decrease in the price of one good causes the demand for another good to decrease, the goods are_________?

The quantity demanded of Pepsi has decreased. The best explanation for this is that ?