Microeconomics III

Microeconomics III

12th Grade

29 Qs

quiz-placeholder

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Microeconomics III

Microeconomics III

Assessment

Quiz

Social Studies

12th Grade

Medium

Created by

benjamin dotson

Used 6+ times

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29 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

If there are two goods with positive prices and the price of one good is reduced, while income and other prices remain constant, then the size of the budget set is reduced.

True

False

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

The graph represents: Demand or Supply?

Demand
Supply

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

Elastic or Inelastic

Elastic
Inelastic

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

Elastic or Inelastic

Elastic
Inelastic

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

Amount of a product consumers will buy at a given prices is called what?

Substitute
Demand

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

Law of demand says if the price of pizza falls, the demand for pizza will what?

Increase
Decrease

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

When the population of Ankeny increases, the demand will: increase or decrease?

Increase
Decrease

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