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Construction Economics

Authored by Sangeetha Arjinan

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University

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Construction Economics
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25 questions

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1.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

The market demand curve shows

the quantity of a good that consumers would like to purchase at different prices

the marginal cost of producing and selling different quantities of a good

the effect on market supply of a change in the demand for a good or service

the effect of advertising expenditures on the market price of a good

2.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

At a price of RM 20.00, a fiction novel is expected to sell 9,000 copies. If the novel is offered for sale at a price of RM 15.00, then the publisher can expect to sell

less than 9,000 copies

9,000 copies

more than 9,000 copies

it is impossible to predict the effect of a lower price on sales

3.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

During a recession, economies experience increased unemployment and a reduced level of activity. How would a recession be likely to affect the market demand for new cars?

Demand will shift to the right

Demand will shift to the left

Demand will not shift, but the quantity of cars sold per month will decrease

Demand will not shift, but the quantity of cars sold per month will increase

4.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

The market supply curve shows

the effect on market demand of a change in the supply of a good or service

the quantity of a good that firms would offer for sale at different prices

the quantity of a good that consumers would be willing to buy at different prices

all of the above are correct

5.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

At a price of RM 600.00, the manufacturer of a portable gas-powered generator is willing to produce 19,000 units per quarter. At a price of RM 550.00, it is likely that the manufacturer will be willing to produce

more than 19,000 units per quarter

19,000 units per quarter

less than 19,000 units per quarter

it is impossible to predict the effect of a higher price on the number of units of a product that a firm will be willing to produce

6.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

If automobile manufacturers are producing cars faster than people want to buy them,

there is an excess supply and price can be expected to decrease

there is an excess supply and price can be expected to increase

there is an excess demand and price can be expected to decrease

there is an excess demand and price can be expected to increase

7.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

If a computer software company introduces a new program and finds that orders from wholesalers far exceed the number of units that are being produced,

there is an excess supply and price can be expected to decrease

there is an excess supply and price can be expected to increase

there is an excess demand and price can be expected to decrease

there is an excess demand and price can be expected to increase

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