
Eco- Ch-4-Assessment
Authored by Dilna Jasmine
Social Studies, Professional Development, Business
11th - 12th Grade
Used 15+ times

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20 questions
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1.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
A listing of how much of an item an individual is willing to purchase at each price is ________
Market demand schedule
Demand curve
Demand schedule
Law of demand
2.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
_______________ are goods that consumers demand more of when their incomes rise.
Substitutes
Complementary
Normal Goods
Inferior Goods
3.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
According to the _______________, when price decreases, demand rises, and when price increases, demand falls.
Law of marginal utility
Law of Demand
Change in quantity demanded
Market Size
4.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
The different points on a demand curve show ______________________.
Change in quantity demanded
Demand schedule points
change in demand
None of the above
5.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Demand can be displayed in a table called _______ or a graph called _________.
demand schedule, demand curve
change in quantity demanded, change in demand
complements, substitutes
normal goods, inferior goods
6.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
If quantity demanded changes significantly when price changes, how is demand described?
Elastic
Inelastic
Constant
Inconstant
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the total revenue test used for?
To measure loss
To measure demand
To measure expense
To measure elasticity
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