
Economics Ch. 6
Quiz
•
Other Sciences, Specialty
•
11th - 12th Grade
•
Easy
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20 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
When the quantity supplied equals the quantity demanded, what has occured?
prices increase
equilibrium
prices decrease
there is a shortage
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Low prices cause buyers to...
substitute other items
buy less
buy more
postpone buying
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What effect does a bumper crop have on the price of that crop?
no effect
equilibrium
decrease
increase
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
When did the most rationing occur in the US?
Hurricane Katrina
1970's energy crisis
WWII
WWI
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What do price floors and ceilings prevent?
shortages
surpluses
prices reaching equilibrium
benefits to consumers
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Who benefits from rent control?
people who do maintenance and repairs on the building
owners of rent-controlled apartments
tenants in rent-controlled apartments
people with children
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What causes price changes most of the time?
government policy
changes in supply and demand
changes in supply only
changes in demand only
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