Economics Unit 2 Review

Economics Unit 2 Review

12th Grade

20 Qs

quiz-placeholder

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Economics Unit 2 Review

Economics Unit 2 Review

Assessment

Quiz

Social Studies

12th Grade

Practice Problem

Medium

Created by

Ross Smith

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20 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

There has been a decrease in the price of Coca Cola. How will the price change effect the demand for Dr Pepper?

The demand for Dr Pepper will decrease

The demand for Dr Pepper will increase

The demand for Dr Pepper will not change

The demand for Coca Cola will increase

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

in 2000, Firestone Tire Co was in the news for faulty tires installed on factory Ford cars causing multiple wrecks. The (decrease/increase) in demand is a result of ____________.

increase; price

Decrease; price

Increase; a non-price determinant

Decrease; a non-price determinant

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is NOT a non-price determinant of demand?

Consumer preference

Price of related goods

Productivity

Consumer income

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

An increase in the number of buyers in a market will cause the demand curve to shift ______.

to the left

to the right

90 degrees

to 2nd gear

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

What does the graph represent?

a change in price

a decrease in productivity

an increase in production cost

an increase in consumer income

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

The demand schedule for sodas shows that -

as price increases the demand decreases

as price increases the demand increases

as price increase the supply decreases

sodas are good

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

According to the graph, what is the equilibrium price?

$1

$2

$3

$4

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