(A) an increase in supply.
(B) a rise in income.
(C) a rise in the price of a complementary good.
(D) a fall in the number of substitute goods.
Category: Economics Mcqs
Users will find here Economics Mcqs for NTS, CSS, PMS, PPSC, FPSC, KPPSC, AJKPSC, BPSC, PTS, SPSC, Lecturer and all other types of Competitive Exams and Interviews. Economics students can prepare their Economics Portion for all test from here.
When the market operates without interference, price increases will distribute what is available to those who are willing and able to pay the most. This process is known as?
(A) price fixing.
(B) quantity setting.
(C) quantity adjustment.
(D) price rationing.
A shift in the demand curve (drawn in the traditional Price-Quantity space) to the left may be caused by?
(A) a decrease in supply.
(B) a fall in income.
(C) a fall in the price of a complementary good.
(D) a fall in the number of substitute goods.
Equilibrium in the market for good A obtains?
(A) when there is no surplus or shortage prevailing in the market
(B) where the demand and supply curves for A intersect
(C) when all of what is produced of A is consumed
(D) all of the above
When there is excess demand in an unregulated market, there is a tendency for?
(A) quantity demanded to increase.
(B) quantity supplied to decrease.
(C) price to fall.
(D) price to rise.
The price of computer chips used in the manufacture of personal computers has fallen. This will lead to __ personal computers.
(A) a decrease in the supply of
(B) a decrease in the quantity supplied of
(C) an increase in the supply of
(D) an increase in the quantity supplied of
Which of the following is consistent with the law of supply?
(A) As the price of calculators rises, the supply of calculators increases, ceteris paribus.
(B) As the price of calculators falls, the supply of calculators increases, ceteris paribus.
(C) As the price of calculators rises, the quantity supplied of calculators increases,
ceteris paribus.
(D) As the price of calculators rises, the quantity supplied of calculators decreases, ceteris
paribus.
Which of the following will NOT cause a shift in the demand curve for compact discs?
(A) a change in the price of pre-recorded cassette tapes.
(B) a change in wealth.
(C) a change in income.
(D) a change in the price of compact discs.