Econ Review
Quiz
•
Other
•
11th - 12th Grade
•
Practice Problem
•
Hard
Used 7+ times
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33 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following best describes a normal good?
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following best describes an inferior good?
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which term is not a determination businesses use to decide what factors of production to use?
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A change in price for a product causes a change in quantity demanded for that product. (movement)
True
False
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is the most elastic?
Air Conditioning
Electricity
Satellite TV
Water
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What happens to an elastic good when there is a price change?
Large change in quantity demanded
Small change in quantity demanded
Large change in demand
Small change in demand
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Inflation is detrimental to which of the following rates? (nominal - inflation)
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