Economics – Chapter 4 Exam

Economics – Chapter 4 Exam

Assessment

Flashcard

Social Studies

9th Grade

Hard

Created by

Quizizz Content

FREE Resource

Student preview

quiz-placeholder

17 questions

Show all answers

1.

FLASHCARD QUESTION

Front

An actress sets off a craze for wearing camouflage clothing among her fans. What factor is affecting demand?

Back

consumer taste

2.

FLASHCARD QUESTION

Front

How is total revenue calculated? Options: multiplying price by change in demand, multiplying price by quantity sold, multiplying change in price by change in quantity demanded, multiplying change in price by quantity sold

Back

multiplying price by quantity sold

3.

FLASHCARD QUESTION

Front

What do business owners use to gather information for market demand schedules?

Back

market research

4.

FLASHCARD QUESTION

Front

Which of the following describes a demand curve? It is a horizontal line. It slopes downward from left to right. It slopes downward from right to left. It is bow-shaped.

Back

It slopes downward from left to right.

5.

FLASHCARD QUESTION

Front

Which economic concept is defined as the measure of how responsive consumers are to price change?

Back

elasticity of demand

6.

FLASHCARD QUESTION

Front

What term is defined as the change in the amount consumers will buy because they can buy a different product instead?

Back

substitution effect

7.

FLASHCARD QUESTION

Front

What term is defined as goods that consumers demand more of when their incomes rise?

Back

normal goods

Create a free account and access millions of resources

Create resources
Host any resource
Get auto-graded reports
or continue with
Microsoft
Apple
Others
By signing up, you agree to our Terms of Service & Privacy Policy
Already have an account?