Search Header Logo

Economics Review

Authored by KATELYN SEDENQUIST

Other

9th - 12th Grade

Used 1+ times

Economics Review
AI

AI Actions

Add similar questions

Adjust reading levels

Convert to real-world scenario

Translate activity

More...

    Content View

    Student View

18 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A _____________ is a graph that shows the amount of a product that would be bought at all prices in the market

supply curve

law of demand

demand curve

market demand

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Some products, such as DVD players and DVDs, are called ___________ because demand for one moves in the opposite direction as price for the other

substitutes

surplus

elastic

complements

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The methods or services used to make goods and services are called

factors

technology

resources

production

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

At the ____________ price there is neither a surplus or a shortage

profitable

ceiling

exchange

equilibrium

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

According to the law of demand, quantity demanded and price

move in the same direction

depend on marginal utility

move in opposite directions

are not related

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Diminishing marginal utility is the explanation for the consumer's decision to ________

buy multiple things for the same price

buy only one dessert with a meal

purchase more CDs of a favorite singer

buy expensive gifts for close friends

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Total demand may change if more consumers enter the market, consumer tastes change, or

consumer expectations change

substitutes become popular

demand is inelastic

supply remains the same

Access all questions and much more by creating a free account

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?