Crash Course Economics 4
Authored by Jeff Eaglin
Social Studies
9th - 12th Grade
Used 7+ times
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11 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 5 pts
What is the key to markets?
voluntary exchange
corporate taxes
government control
sales tax
2.
MULTIPLE CHOICE QUESTION
30 sec • 5 pts
How do markets use price signals?
to guide distribution of resources
to purchase more capital
to raise prices and help the consumer
to avoid government regulation
3.
MULTIPLE CHOICE QUESTION
30 sec • 5 pts
What does the Law of Demand state?
when the price goes up, people buy less; when the price goes down, people buy more.
when the price goes up, people want it more; when the price goes down, people think it is a cheap product
when the price goes up, the government needs to intervene; when the price goes down, government needs to intervene
4.
MULTIPLE CHOICE QUESTION
30 sec • 5 pts
How does surplus affect price?
lowers price
stabilizes price
raises price
government will set the price
5.
MULTIPLE CHOICE QUESTION
30 sec • 5 pts
How does shortage affect price?
raises price
lowers price
stabilizes price
government intervenes to set price
6.
MULTIPLE CHOICE QUESTION
30 sec • 5 pts
What is equilibrium price?
the ideal price where supply equals demand
the ideal price to maximize profit for a company
the ideal price to help the consumer afford a product
7.
MULTIPLE CHOICE QUESTION
30 sec • 5 pts
What is point "A" suppose to be labelled?
price
quantity
supply
demand
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