
Sloman -2.1, 2.2
Authored by Darek Orlowski
Business, English, Professional Development
University
Used 15+ times

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5 questions
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1.
MULTIPLE SELECT QUESTION
45 sec • 1 pt
A person or firm with no power to influence the market price is called:
price taker
price maker
free pricer
market pricer
2.
MULTIPLE SELECT QUESTION
45 sec • 1 pt
A point of balance where the quantity demandrd equals the quantity supplied is referred to as ........................price.
equilibrium
equal
equatorial
equinox
equidistant
3.
MULTIPLE SELECT QUESTION
1 min • 1 pt
Which TWO reasons are there for the law of demand?
income effect
substitution effect
saturation effect
price effect
complementary effect
4.
MULTIPLE SELECT QUESTION
45 sec • 1 pt
Quantity demanded is the amount that consumers are........................... to purchase at a certain price, over a time period.
willing and able
willing and unable
willing
unwilling
5.
MULTIPLE SELECT QUESTION
45 sec • 1 pt
Goods whose demand falls as people's income rises are called:...
inferior goods
infernal goods
infertile goods
informal goods
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