Search Header Logo

Price Mechanism 1

Authored by Chongxiang FOONG

Other

11th - 12th Grade

Used 51+ times

Price Mechanism 1
AI

AI Actions

Add similar questions

Adjust reading levels

Convert to real-world scenario

Translate activity

More...

    Content View

    Student View

9 questions

Show all answers

1.

MULTIPLE SELECT QUESTION

1 min • 1 pt

Price of a good increases will result in

demand falls

supply rises

quantity demanded falls

quantity demanded rises

quantity supplied rises

2.

MULTIPLE SELECT QUESTION

1 min • 1 pt

When demand of a good increases,

equilibrium price will fall

equilibrium price will rise

equilibrium quantity will fall

equilibrium quantity will rise

3.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

What happens to the market of Coke, when price of Pepsi increases?

Quantity demanded of Coke rises

Quantity demanded of Coke falls

Demand for Coke rises

Supply for Coke rises

4.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

When both demand and supply decreases, which one is NOT a possible outcome?

Equilibrium quantity falls

Equilibrium quantity rises

Equilibrium price falls

Equilibrium price rises

5.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Which one of the following does NOT affect the demand of a good?

GST levied on the sales of the good

Change in taste and preference for the good

Rise in household income

Expectation of a future price increase for the good

6.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Supply of a good increases will result in

Fall in equilibrium price and Fall in equilibrium quantity

Fall in equilibrium price and Rise in equilibrium quantity

Rise in equilibrium price and Fall in equilibrium quantity

Rise in equilibrium price and Rise in equilibrium quantity

7.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

When demand increases and supply decreases simultaneously,

equilibrium price will rise while equilibrium quantity is uncertain

equilibrium price will fall while equilibrium quantity is uncertain

equilibrium quantity will rise while equilibrium price is uncertain

equilibrium quantity will fall while equilibrium price is uncertain

Access all questions and much more by creating a free account

Create resources

Host any resource

Get auto-graded reports

Google

Continue with Google

Email

Continue with Email

Classlink

Continue with Classlink

Clever

Continue with Clever

or continue with

Microsoft

Microsoft

Apple

Apple

Others

Others

Already have an account?