The effect of Prices

The effect of Prices

10th Grade - University

20 Qs

quiz-placeholder

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The effect of Prices

The effect of Prices

Assessment

Quiz

Other

10th Grade - University

Practice Problem

Medium

Created by

Reham barany

Used 17+ times

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20 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Price is defined as the ___________________ value of an object

Monetary

Real

Fiscal

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A particular price on an item might provide a(n) ___________________ for a change in economic behavior by a buyer or seller

flexibility

Efficiency

Signal

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In a competitive market economy, prices are ___________________because they favor neither the producer nor the consumer

Efficient

Familiar

Neutral

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of these best describes prices in a market economy?

a signal for consumers to purchase less

a signal for producers to manufacture less

a set of compromises between buyers and sellers

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Prices are the result of competition between whom?

Producers and consumers

Consumers and buyers

Producers and sellers

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

If bad weather caused a smaller than usual harvest of corn one year, what would happen to the price of corn?

It would stay the same.

It would decrease

It would increase.

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What do prices signal to consumers?

How much to buy

How much to make

What to produce

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