ECON: Unit 2 study guide

ECON: Unit 2 study guide

9th - 12th Grade

20 Qs

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ECON: Unit 2 study guide

ECON: Unit 2 study guide

Assessment

Quiz

Social Studies

9th - 12th Grade

Practice Problem

Hard

Used 52+ times

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20 questions

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1.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

What would cause quantity demanded to go up?

higher prices

lower prices

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What would cause quantity demanded to go down?

Higher prices

Lower prices

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is demand?

the extra usefulness or satisfaction a person gets from acquiring or using one product

The higher the price of a product causes high demand

a table that lists the quantity of a good people would buy at different prices.

Combination of desire, ability, and willingness to buy something.

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is Demand Schedule?

A table that lists the quantity of a good people would to buy at different prices.

the extra usefulness or satisfaction a person gets from acquiring or using one product

combination of desire, ability, and willingness to buy something

all of the above

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is Marginal Utility?

A table that lists the quantity of a good people would buy at different prices

combination of desire, ability, and willingness to buy something

the extra usefulness or satisfaction a person gets from acquiring or using a product

none of the above

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the Substitution Effect?

Combination of desire, ability, and willingness to buy something

a table that lists the quantity of a good people would buy at different prices

the extra usefulness or satisfaction a person gets from acquirinf or suing a product

there is change in quantity demand because of the change in relative price of another product

7.

MULTIPLE SELECT QUESTION

30 sec • 1 pt

Select the correct examples of COMPLIMENTS

Peanut butter and jelly

Printers and ink

DVD player and a DVD

Flour tortillas and corn tortillas

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