Econ Focused Quiz 18 (Section 2 Summary)

Econ Focused Quiz 18 (Section 2 Summary)

10th - 12th Grade

15 Qs

quiz-placeholder

Similar activities

MAN 1107 CH 2 PRETEST 25 Q

MAN 1107 CH 2 PRETEST 25 Q

Economics and Marketing Quiz

Economics and Marketing Quiz

Midterm - Microecon

Midterm - Microecon

ECON 10: Assignment

ECON 10: Assignment

Business Fundamentals CPAS Review 2

Business Fundamentals CPAS Review 2

MAN1107 WK1 7-9

MAN1107 WK1 7-9

Econ Focused Quiz 18 (Section 2 Summary)

Econ Focused Quiz 18 (Section 2 Summary)

Assessment

Quiz

10th - 12th Grade

Medium

Created by

Paul Doan

Used 4+ times

FREE Resource

AI

Enhance your content in a minute

Add similar questions
Adjust reading levels
Convert to real-world scenario
Translate activity
More...

15 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

What is the central topic of microeconomics?

deciding the number of consumers and producers in markets

deciding the government's role in the economy

accounting for the output gap in national economics

making decisions based on Pareto efficiency

the interaction of supply and demand

2.

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

Which feature is NOT a characteristic of perfectly competitive markets?

highly standardized goods

a well-informed populace

each firm having market power

a large number of sellers

a large number of buyers

3.

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

According to the law of demand, as prices increase,

quantity supplied decreases

quantity demanded decreases

price floors are added

deadweight loss decreases

producer surplus decreases

4.

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

Which factor does NOT shift the demand curve for a good?

the price of related goods

expectations

the number of buyers

increases in the price of the good

consumers' tastes

5.

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

According to the law of supply, as prices increase,

quantity demanded increases

the government increases taxes

crowding out occurs

consumer surplus increases

quantity supplied increases

6.

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

Which factor does NOT shift the supply curve?

the number of sellers

the technology used

the number of buyers

the price of inputs

consumer expectations

7.

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

On a graph, where is the ideal price in a perfectly competitive market?

at the price control

at producer surplus

at equilibrium

at marginal revenue

at deadweight loss

Create a free account and access millions of resources

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?