Lesson 7 - Prices
Quiz
•
Social Studies
•
9th - 12th Grade
•
Practice Problem
•
Hard
Luis Cardenas
Used 30+ times
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75 questions
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1.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
The monetary value of a product
price ceiling
target price
economic model
price
2.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Price where quantity supplied equals quantity demanded.
Equilibrium price
Equilibrium quantity
Price floor
Price
3.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
The highest legal price that can be charged for a product:
Price
Price ceiling
Price floor
Target price
4.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
The lowest legal price that can be paid for a product:
Price
Price Ceiling
Price Floor
Surplus
5.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Which is the opposite of a surplus?
Inelastic
Shortage
Equilibrium
Floor
6.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Which term best describes rent control?
Price ceiling
Subsidy
Equilibrium price
Nonrecourse
7.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
The Law of Demand states that as quantity demanded decreases...
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