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Economics Unit 2 Review

Authored by Cullen Reavis

Social Studies

12th Grade

Used 2+ times

Economics Unit 2 Review
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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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