End of Micro Y1

End of Micro Y1

11th Grade

20 Qs

quiz-placeholder

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End of Micro Y1

End of Micro Y1

Assessment

Quiz

Business

11th Grade

Practice Problem

Medium

Created by

caroline harfield

Used 8+ times

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20 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

What am I when changes in price encourage buyers and sellers to change the quantity they buy and sell. A rise in price encourages buyers to purchase less and sellers to produce more; and vice versa.

Signalling function of the price mechanism

Incentive function of the price mechanism

Rationing function of the price mechanism

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What am I when changes in price lead to more or less being produced, so increasing or limiting the quantity demanded by buyers.

Signalling function of the price mechanism

Incentive Function of the price mechanism

Rationing function of the price mechnanism

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What am I when changes in price give information to buyers and sellers which influence their decisions to buy and sell.

Signalling function of the price mechanism

Incentive function of the price mechanism

Rationing function of the price mechanism

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

What am I?

Excess Demand

Excess Supply

Minimum price

Maximum price

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

What am I?

Excess Supply

Excess Demand

Shift in Demand

6.

MULTIPLE SELECT QUESTION

45 sec • 1 pt

Media Image

The shaded area pointed to is Consumer Surplus

True

False

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

What am I?

A is factors of supply and B is factors of Demand

A is factors of PED and B is factors PES

A is factors of demand and B factors of supply

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