Search Header Logo

Eco- L 5.1 & 5.2- Test

Authored by Dilna Jasmine

Social Studies, Professional Development, Business

11th - 12th Grade

Used 5+ times

Eco- L 5.1 & 5.2- Test
AI

AI Actions

Add similar questions

Adjust reading levels

Convert to real-world scenario

Translate activity

More...

    Content View

    Student View

13 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

_____________ states that when prices decrease, quantity supplied decreases, and when prices increase, quantity supplied increases.

Law of Demand

Law of Supply

Law of Diminishing Marginal Utility

Law of Business

2.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

___________ lists how much of a good or service an individual producer is willing and able to offer for sale at each price.

Supply Chart

Supply Curve

Supply Box

Supply schedule

3.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

A supply curve slope is upward because price and quantity supplied have a _____ relationship.

direct

indirect

reverse

opposite

4.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

_____ shows the data from a supply schedule in graph form

Supply Curve

Market supply schedule

Individual supply schedule

None of them

5.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

____ refers to the desire and ability to produce and sell a product.

Demand

Marginal supply

Supply

Marginal Utility

6.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

______ refers to having a worker focus on a particular aspect of production.

Increasing returns

Organization

Business Focus

Specialization

7.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

_________ is a company’s income from selling its products.

Profit

Total Revenue

Total expense

Loss

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?