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Economics 2024 Final

Economics 2024 Final

Assessment

Flashcard

•

Other

•

12th Grade

•

Practice Problem

•

Hard

Created by

Wayground Content

FREE Resource

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40 questions

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1.

FLASHCARD QUESTION

Front

What does this graph represent? Options: Supply curve, demand curve, surplus, shortage

Media Image

Back

Supply curve

2.

FLASHCARD QUESTION

Front

What does p1 represent? Options: Supply, Demand, Shortage, surplus

Media Image

Back

surplus

3.

FLASHCARD QUESTION

Front

What does P1 represent? Options: supply, demand, shortage, surplus

Media Image

Back

shortage

4.

FLASHCARD QUESTION

Front

What does the intersection represent?

Media Image

Back

equilibrium

5.

FLASHCARD QUESTION

Front

What does the graph represent? Options: supply curve, demand curve, shortage, Surplus

Media Image

Back

demand curve

6.

FLASHCARD QUESTION

Front

What do we call where the supply and demand curves meet?

Back

Equilibrium

7.

FLASHCARD QUESTION

Front

When price goes up supply increase. What is this idea known as?

Back

Law of supply

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