Econ Unit 2: Week 1

Econ Unit 2: Week 1

9th Grade

10 Qs

quiz-placeholder

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Econ Unit 2: Week 1

Econ Unit 2: Week 1

Assessment

Quiz

Social Studies

9th Grade

Medium

Created by

Rachel Hammond

Used 38+ times

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10 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

The different quantities of goods that consumers are willing and able to buy at different prices.

Supply

Law of supply

Demand

Law of demand

2.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

Describes the inverse relationship between price and quantity demanded.

Supply

Law of supply

Demand

Law of demand

3.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

If the price goes up for a product, consumers buy less of that product and more of another substitute.

The income effect

The substitute effect

Law of diminishing marginal utility

Law of demand

4.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

If the price goes down for a product, the purchasing power increases for consumers, allowing them to purchase more.

The income effect

The substitute effect

Law of diminishing marginal utility

Law of demand

5.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

The more you buy and use a good or product, satisfaction for that product declines.

The income effect

The substitute effect

Law of diminishing marginal utility

Law of demand

6.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

The different quantities of a good that sellers are willing and able to sell (produce) at different prices.

Supply

Law of supply

Demand

Law of demand

7.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

There is a direct (or positive) relationship between price and quantity supplied.

Supply

Law of supply

Demand

Law of demand

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