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Quiz 1 Comercio Internacional

Authored by Martin Rendon Ingles

Business

University

Used 15+ times

Quiz 1 Comercio Internacional
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18 questions

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1.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

Part 1. Select the best answer.

What determines the price of a good or service?

Demand only

Supply only

Supply and Demand

None of the above

2.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

Part 1. Select the best answer.

Consumers are __________.

people that sell goods and services.

people that buy goods and services.

people that consume food.

None of the above.

3.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

Part 1. Select the best answer.

Demand means __________.

the amount of a good or service that consumers are willing to buy.

is the amount of a good or service produced.

is the price that is demanded by consumers.

None of the above.

4.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

Part 1. Select the best answer.

What does the law of demand say?

Consumers will buy less of something when the price goes down.

Consumers will buy more of something when price increases.

Consumers will buy more of something when prices decrease.

None of the above.

5.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

Part 1. Select the best answer.

If the price of a good or service increases, what will happen to the demand for it?

Increase

Decrease

Stay the same

Nobody knows

6.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

Part 1. Select the best answer.

In which way can demand be shown, with __________.

a demand schedule chart.

a demand curve graph.

using the formula D + E =DE

A and B.

7.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

Part 1. Select the best answer. 

A factor that can change the amount demanded for a good would be:

Income

Population

Tastes

All of the above

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