Economic Final Test Practice

Economic Final Test Practice

11th Grade

15 Qs

quiz-placeholder

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Economic Final Test Practice

Economic Final Test Practice

Assessment

Quiz

Business

11th Grade

Practice Problem

Easy

Created by

Kimberly McCutchen

Used 1+ times

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15 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

(1.02)

Jenni wants to start a print shop making specialty papers and cards. Which economic question has she answered?

For whom to produce?

How much to produce?

How to produce?

check

What to produce?

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

(1.02)

XYZ Tutoring provides educational services for students struggling in math. Which economic question does students struggling in math answer?

For whom to produce?

How much to produce?

How to produce?

What to produce?

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

(1.02)

Which statement below best answers the economic question How to produce?

Marco's products sell at prices ranging between $2 and $125.

Marco sells his products at art shows, online, and by word of mouth.

Marco uses locally harvested wood from a sustainable tree farm to make his products.

Marco works as an independent artisan, crafting wooden figurines, toys, and games.

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

(1.02)

Tristan has gotten very good at painting characters in fantasy settings. He has just bought acrylic paint and canvas in bulk, intending to start a painting business. Which statement best addresses the next economic question Tristan needs to answer?

Buy a web domain and build a website.

Market to online game players.

Network with other painters.

Plan a company budget.

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

(1.02)

Alpaca Yarn employs factory workers to hand spin wool yarn and fabric in a workshop on the company farm. Which economic questions does this statement answer?

How much to produce? How much to charge?

How to produce? How much to produce?

What to produce? For whom to produce?

What to produce? How to produce?

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

(1.06)

The products available for purchase are the

demand.

equilibrium point.

equilibrium price.

supply.

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

(1.06)

When is equilibrium reached?

When supply is greater than demand.

When demand equals supply.

When supply is less than demand.

When demand and supply both change.

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