Unit 2 Exchange & Markets

Unit 2 Exchange & Markets

Assessment

Flashcard

Social Studies

10th Grade

Practice Problem

Hard

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Wayground Content

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28 questions

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1.

FLASHCARD QUESTION

Front

Demand refers to

Back

a consumer's ability & willingness to pay a price for a specific good or service.

2.

FLASHCARD QUESTION

Front

At a price of $3, what is the quantity demanded for coconuts?

Media Image

Back

6

3.

FLASHCARD QUESTION

Front

Refer to the demand schedule above. What conclusion can be made about the relationship between price and quantity demanded?

Media Image

Back

When price decreases, the quantity demanded increases

4.

FLASHCARD QUESTION

Front

Which of the following is a shifter of demand? Availability of Resources, New Technology, Consumer Tastes & Preferences, Government Subsidies

Back

Consumer Tastes & Preferences

5.

FLASHCARD QUESTION

Front

If there is an overall increase in the taste and preference for coconuts, then the movement that would take place in the model could be:

Media Image

Back

A to C

6.

FLASHCARD QUESTION

Front

If there is an increase in the price of coconuts, then the movement that would take place in the model could be: A to C, B to A, C to A, B to E

Media Image

Back

B to A

7.

FLASHCARD QUESTION

Front

Supply is best defined as

Back

the amount of goods and services sellers are willing and able to produce at a given price

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