Ch 6 - Prices

Ch 6 - Prices

12th Grade

12 Qs

quiz-placeholder

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Ch 6 - Prices

Ch 6 - Prices

Assessment

Quiz

Social Studies

12th Grade

Easy

Created by

Chris Moore

Used 1+ times

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12 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

A legal minimum on the price at which a good can be sold

target price

price ceiling

economic model

price floor

2.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

price floor for agricultural products set by the government to stabilize farm income

price floor

target price

price ceiling

nonrecourse loan

3.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

A situation in which quantity demanded is greater than quantity supplied

economic model

shortage

target price

biofuels

4.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

the highest legal price that can be charged for a product

price floor

equilibrium price

economic model

price ceiling

5.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

extra supply

shortage

surplus

biofuels

price

6.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

A system of allocating scarce goods and services using criteria other than price

shortage

target price

economic model

rationing

7.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

the quantity supplied and the quantity demanded at the equilibrium price

equilibrium price

equilibrium quantity

economic model

nonrecourse loan

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