Unit 2.2 Equilibrium
Quiz
•
Social Studies, Business
•
10th - 12th Grade
•
Medium
Stephanie Windon
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12 questions
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1.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
Which of these best defines equilibrium in a market?
A situation in which quantity supplied is greater than quantity demanded.
A situation in which quantity demanded is greater than quantity supplied.
A situation in which quantity supplied and quantity demanded are equal.
A situation where a minimum price is set.
2.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
A situation in which the quantity supplied is greater than the quantity demanded is
a shortage
a surplus
a price floor
a price ceiling
3.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
A situation in which quantity demanded is greater than quantity supplied is
a shortage
a surplus
a price floor
a price ceiling
4.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
Market forces are best described as
supply and demand determining prices
the government set a minimum price for corn so farmers can make more money
the government setting a maximum price on gas so people can save money
a group of buyers and sellers for a particular good or service
5.
MULTIPLE SELECT QUESTION
2 mins • 1 pt
Which of the following demonstrates price equilibrium?
6.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
Which of these demonstrates a surplus of goods?
7.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
Which of these demonstrates a shortage of goods?
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