Microeconomics Review

Microeconomics Review

9th - 12th Grade

38 Qs

quiz-placeholder

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Microeconomics Review

Microeconomics Review

Assessment

Quiz

Social Studies

9th - 12th Grade

Hard

Created by

Matthew Alford

Used 14+ times

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38 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

Which of the following would be a compliment to a hamburger patty?

hotdog wiener

hamburger bun

pizza

bubble bath

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Chocoloto is a company that makes chocolate bars. The cost of chocolate, which is used to make the bars, goes up. Which graph correctly shows what will happen?

Media Image
Media Image
Media Image
Media Image

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

Look at the graph. If the price of the good is at P1, what does the space between Q1 and Q3 (marked by the red line) indicate?

surplus

equilibrium

shortage

quantity supply shift

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

Look at the market supply and demand schedule. Which price would there be equilibrium?

$7

$5

$3

$1

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Disney has partnered with Adidas shoes to create a new line of Star Wars shoes. Everyone who loves Star Wars rushes to buy the shoes. What determinant of demand does this example illustrate?

Change in Consumer Income

Change in Price of Subsitute

Change in Taste and Preferences

Change in Number of Consumers

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following would NOT cause a shift in demand for pork chops?

An increase in consumer income.

A change in the price of pork chops.

A rise in price of chicken.

A study released saying pork chops will extend your life.

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

Study the supply and demand model. Which statement best explain the change shown in the model?

10 more producers enter the market.

The government places a tax on the product.

An popular athlete endorses the product.

A new machine is introduced making it easier to produce the product.

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