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Equilibrium, Price Floor, Price Ceiling

Equilibrium, Price Floor, Price Ceiling

Assessment

Flashcard

Social Studies

11th Grade

Practice Problem

Hard

Created by

Wayground Content

FREE Resource

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8 questions

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1.

FLASHCARD QUESTION

Front

Which of these best defines equilibrium in a market? a situation in which quantity supplied is greater than quantity demanded, a situation in which quantity demanded is greater than quantity supplied, a situation in which quantity supplied and quantity demanded are equal, a situation where a minimum price is set

Back

a situation in which quantity supplied and quantity demanded are equal

2.

FLASHCARD QUESTION

Front

A situation in which the quantity supplied is greater than the quantity demanded is

Back

a surplus

3.

FLASHCARD QUESTION

Front

A situation in which quantity demanded is greater than quantity supplied is

Back

a shortage

4.

FLASHCARD QUESTION

Front

A situation in which a minimum price is set is referred to as

Back

a price floor

5.

FLASHCARD QUESTION

Front

A situation in which a maximum price is set is referred to as

Back

a price ceiling

6.

FLASHCARD QUESTION

Front

Which of the following demonstrates price equilibrium?

Back

Media Image

7.

FLASHCARD QUESTION

Front

Which of these demonstrates a surplus of goods?

Back

Media Image

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