Demand, Supply, and Prices Quiz 2

Demand, Supply, and Prices Quiz 2

12th Grade

14 Qs

quiz-placeholder

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Demand, Supply, and Prices Quiz 2

Demand, Supply, and Prices Quiz 2

Assessment

Quiz

Business

12th Grade

Practice Problem

Medium

Created by

Shanda Misiolek

Used 26+ times

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14 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

A measure of the way quantity supplied reacts to a change in price.

elasticity of demand

inelastic

elastic

unitary elastic

2.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Describes demand that is not very sensitive to price changes.

elasticity of demand

inelastic

elastic

unitary elastic

3.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Describes demand that is very sensitive to a change in price.

elasticity of demand

inelastic

elastic

unitary elastic

4.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Describes demand whose elasticity is exactly equal to one.

elasticity of demand

inelastic

elastic

unitary elastic

5.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

The total amount of money a company received by selling goods or services.

total revenue

supply

law of supply

quantity supplied

6.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Media Image

The amount of goods or a service that is available.

total revenue

supply

law of supply

quantity supplied

7.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Media Image

Producers offer more of a good or service as its price increases and less as its price fall.

total revenue

supply

law of supply

quantity supplied

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