Economics Unit 2 Review
Authored by Cullen Reavis
Social Studies
12th Grade
Used 2+ times
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35 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
combination of desire, ability, and willingness to buy a product
Law of Demand
demand
supply
equilibrium price
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
rule stating that more will be demanded at lower prices and less at higher prices
demand curve
Law of Supply
surplus
Law of Demand
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
graph showing the quantity demanded at each and every possible price that might prevail in the market at a given time
supply
subsidy
demand curve
monopoly
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
the different amounts offered for sale at each possible price in the market
supply
Law of Supply
Law of Demand
demand
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
principle that more will be offered for sale at higher prices than at lower prices
subsidy
Law of Demand
Law of Supply
equilibrium price
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
government payment to encourage or protect a certain economic activity
surplus
oligopoly
equilibrium price
subsidy
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
price where quantity supplied equals quantity demanded
equilibrium price
monopoly
Law of Supply
Law of Demand
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