The Role of Prices

The Role of Prices

Mrs. Stuart

Multiple Choice

Consumers hate low prices because

• it means that they can buy more with their money.

• It means that they can buy less with their money.

Multiple Choice

Suppliers love high prices because it means that they

• will have more profits.

• will have less proftis.

Multiple Choice

True or False: Market equilibrium can be resotred by adjusting the price.

• True

• False

Multiple Choice

What is it called when the govt decides to give out goods and services?

• Excess supply

• Excess demand

• Market Equilibrium

• Rationing