What is a resource market?

ECON Micro Almost There

Quiz
•
History
•
12th Grade
•
Medium

Taylor Dee
Used 7+ times
FREE Resource
10 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
a market that provides goods and services for households
a market that provides factors of production (land, labor, and capital) to firms
a market that provides money for firms in the form of loans
a market such as a grocery store
2.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
As a sole proprietor, Jessica took out a loan to buy equipment for her in-home business. If Jessica's business does not make enough money to pay back her loan, she will have to sell personal property to cover her outstanding obligation. Which of the following conditions affects sole proprietors but not corporations
obligatory property
proprietary liability
personal obligation
unlimited liability
3.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
Which market structure has the largest number of suppliers?
monopolistic competition
monopoly
oligopoly
pure/perfect competition
4.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
The term quantity demanded refers to
the entire series of prices and quantities which comprises the demand schedule
the amount of a product which will be purchased at some specific price
the amount of a product which will be provided for sale at some specific price
a situation where the income and substitution effects do not apply
5.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
The Law of Supply states that:
producers will offer more of a product at low prices than they will at high prices
producers will offer more of a product at high prices than they will at low prices
the product supply curve is down sloping
consumers will purchase less of a good at high prices than they will at low prices
6.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
What happens when a price is set below the equilibrium price?
shortage
surplus
7.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
What happens when the price is set above the equilibrium price?
shortage
surplus
Create a free account and access millions of resources
Similar Resources on Quizizz
11 questions
Stocks and Investing

Quiz
•
10th - 12th Grade
14 questions
9.1 The Great Depression Begins

Quiz
•
9th - 12th Grade
10 questions
Causes and Effects of the Great Depression

Quiz
•
9th - 12th Grade
15 questions
Government and Economics

Quiz
•
7th Grade - University
10 questions
Economics C7L1 Competition and Market Structures

Quiz
•
12th Grade
13 questions
Unit 11 Topic 2 Review Game

Quiz
•
11th - 12th Grade
12 questions
Econ Vocab Unit Quiz P1

Quiz
•
12th Grade
13 questions
Supply and Demand - Curves and Graphs

Quiz
•
9th - 12th Grade
Popular Resources on Quizizz
15 questions
Multiplication Facts

Quiz
•
4th Grade
20 questions
Math Review - Grade 6

Quiz
•
6th Grade
20 questions
math review

Quiz
•
4th Grade
5 questions
capitalization in sentences

Quiz
•
5th - 8th Grade
10 questions
Juneteenth History and Significance

Interactive video
•
5th - 8th Grade
15 questions
Adding and Subtracting Fractions

Quiz
•
5th Grade
10 questions
R2H Day One Internship Expectation Review Guidelines

Quiz
•
Professional Development
12 questions
Dividing Fractions

Quiz
•
6th Grade