PRC-3 · Chapter 10 · Question 52 of 70
During the Covid-19 pandemic, the sudden panic buying and massive need for Face Masks caused the demand curve to shift outwards. This is formally termed a:
Test yourself: pick an answer
Reveal answer & explanation
Correct answer: B) Rise in demand
Explanation
When an external factor (fear of illness) causes consumers to demand a higher quantity at every price point, it is a rightward shift, known as a 'rise in demand'.
More Demand, Supply and Market Equilibrium MCQs
- Q54The Karachi Electric Supply Corporation (KESC) was officially privatized and later rebranded as K-Electric in which year?
- Q55During reforms, WAPDA was functionally unbundled into multiple generation companies (GENCOs), distribution companies (DISCOs), and one…
- Q56In the structural power supply value chain, the 'upstream' component specifically refers to:
- Q57The official consumer electricity tariff in Pakistan's power sector is legally determined by:
- Q58The financial shortfall between the total energy generated by power plants and the actual energy successfully billed to consumers is known…