Price Controls & Market Structures

Price Controls & Market Structures

9th - 12th Grade

30 Qs

quiz-placeholder

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Price Controls & Market Structures

Price Controls & Market Structures

Assessment

Quiz

History

9th - 12th Grade

Practice Problem

Medium

Created by

Beth Paolano

Used 81+ times

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30 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

What does this curve represent?

demand
supply
equilibrium
shortage

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

What does this curve represent?

supply
equilibrium
demand
surplus

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

At market equilibrium there is

a shortage
excess demand
the same amount of supply and demand
 a surplus

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

What is the equilibrium quantity in this graph?

$1.50
$1.00
600
800

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

If a price floor was set at 320, what quantity would be purchased?

20
40
60
80

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

At the price of 1.00 there is a 

shortage of 200
surplus of 200
shortage of 400
surplus of 400

7.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

An effective price floor must be set above equilibrium, resulting in:

a shortage
a surplus
limited choices
None of the above

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