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Economics Unit 2

Authored by David Dotson

Business, Other, Social Studies

9th - 12th Grade

CCSS covered

Used 2+ times

Economics Unit 2
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15 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

The law of demand states that if the price of CD’s rise, consumers will

Buy more CDs
Buy fewer CDs
Quantity demanded will not change

Tags

CCSS.RI.11-12.7

CCSS.RI.8.7

CCSS.RI.9-10.7

CCSS.RL.11-12.7

CCSS.RL.9-10.7

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

The law of supply states that if the price of CD’s rise, suppliers will

Supply more CDs
Supply fewer CDs
Quantity supplied will not change

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

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Which of the following is NOT a determinant of the supply of peanut butter?

The price of peanuts 
The wages of peanut butter factory workers 
The income of peanut butter consumers
Existing peanut butter making technology

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

Which of the following will cause an increase in demand for snowboards?

More costly production methods 
A decrease in the price of lift tickets at resorts in Colorado 
A decrease in consumer income   
A decrease in the population 

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

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What does a “surplus” (extra amount) of goods in a market imply?

Prices are too high
Prices are too low
Supply is too low
Demand is too high

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

A year ago, there were 12 companies that made motorized scooters. But over the past month, 5 of those companies went out of business. What probably happened to the overall supply of motorized scooters?

The supply probably went up.

The supply probably went down.

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

In 1940, scientists invented a new form of synthetic, or artificial, rubber. It was cheaper to work with than natural rubber. What happened to the overall supply of rubber tires after 1940?

The supply went up

The supply went down

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