Unit 2 Final Review
Flashcard
•
Social Studies
•
10th - 12th Grade
•
Practice Problem
•
Hard
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38 questions
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1.
FLASHCARD QUESTION
Front
Microeconomics deals with:
Back
individual units in the economy.
2.
FLASHCARD QUESTION
Front
Demand refers to…
Back
a consumer's desire & willingness to pay a price for a specific good or service.
3.
FLASHCARD QUESTION
Front
For the law of demand, as price rises, what happens to quantity demanded?
Back
it goes down
4.
FLASHCARD QUESTION
Front
Which of the following is a demand shifter? Availability of Resources, New Technology, Tastes & Preferences, Government Subsidies
Back
Tastes & Preferences
5.
FLASHCARD QUESTION
Front
When the price of a good or service changes…
Back
there would be a movement on the current curve.
6.
FLASHCARD QUESTION
Front
The movement from point A to point B on the graph shows:
Back
an increase in quantity demanded.
7.
FLASHCARD QUESTION
Front
Other things equal, when the price of a good falls, the quantity demanded of the good rises. This is…
Back
the law of demand
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