
Economics Unit 2 Definition
Quiz
•
Other
•
11th - 12th Grade
•
Hard
Emily Xu
Used 2+ times
FREE Resource
25 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
An almost zero percentage change in price brings a very large percentage change in the quantity supplied.
Perfectly inelastic supply
Perfectly elastic supply
elastic supply
inelastic supply
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The percentage change in the quantity supplied exceeds the percentage change in price.
Perfectly elastic supply
Perfectly inelastic supply
elastic supply
inelastic supply
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The percentage change in the quantity supplied equals the percentage change in price.
Inelastic supply
Perfectly inelastic supply
Unit elastic supply
Perfectly elastic supply
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The percentage change in the quantity supplied is less than the percentage change in price.
elastic supply
Inelastic supply
Perfectly Inelastic supply
Perfectly elastic supply
5.
MULTIPLE SELECT QUESTION
45 sec • 1 pt
Two Main Influences on the Price Elasticity of Supply
Production possibilities
Income
Selling Price
Storage possibilities
6.
FILL IN THE BLANK QUESTION
45 sec • 1 pt
( ) are the two words that economists use most often.
7.
FILL IN THE BLANK QUESTION
1 min • 1 pt
A ( ) is a group of buyers and sellers of a particular good or service.
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