Social Studies
11th Grade
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15 questions
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1.
MULTIPLE CHOICE QUESTION
5 mins • 3 pts
What is it called when Consumers and Producers agree on a market price?
Equilibrium
Supply
Demand
Surplus
2.
DROPDOWN QUESTION
5 mins • 3 pts
(a) is the amount of a good being produced.
3.
FILL IN THE BLANKS QUESTION
5 mins • 3 pts
The amount of money people are willing to pay for a product is called (a)
4.
MULTIPLE CHOICE QUESTION
5 mins • 3 pts
What does it mean if there is a shortage.
Supply and demand are equal
Supply is higher than demand
Demand is higher than supply
None are correct
5.
MULTIPLE CHOICE QUESTION
5 mins • 3 pts
What does it mean if there is a Surplus
Demand is higher than supply
Supply is higher than demand
Supply and demand are equal
None are correct.
6.
MULTIPLE CHOICE QUESTION
5 mins • 3 pts
What is an incentive?
A threat
When supply and demand are equal
A form of anti union behavior put out by big corperations
something that encourages a person or organization to do or achieve something
7.
MULTIPLE CHOICE QUESTION
5 mins • 3 pts
What is Marginal cost?
Free lunches
What you give up whenever you make a decision
Stock prices
Union fees
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