Ch.6 Prices

Ch.6 Prices

12th Grade

35 Qs

quiz-placeholder

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Ch.6 Prices

Ch.6 Prices

Assessment

Quiz

History

12th Grade

Medium

Created by

Jesse Perrin

Used 24+ times

FREE Resource

35 questions

Show all answers

1.

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

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the highest legal price that can be charged for a product?

price ceiling

price floor

equilibrium price

monetary value of a product

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Price floor for agricultural products set by the government to stabilize farm prices

target price

equilibrium quantity

rationing

equilibrium price

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How do economists analyze behavior and predict outcomes?

surplus

economic model

equilibrium price

equilibrium quantity

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Minimum wage is an example of a...

price floor

price ceiling

equilibrium price

rationing

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In a competitive market, prices are generally....

favorable for consumers

favorable for producers

neutral

inelastic

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What do most economists believe is the most efficient way to allocate resources?

rationing

government action

competitive markets

distorted incentives

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