Ch 4 ECON
Quiz
•
History
•
12th Grade
•
Practice Problem
•
Medium
Chase Chanthawoharn
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20 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
When a consumer is able and willing to buy a good or service, he or she creates which of the following:
Consumption
Elasticity
Demand
Allocation
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What are inferior goods?
Goods for which the demand rises when income rises
Goods for which the demand falls when income rises
Goods that no one wants to buy
Goods that are not well produced
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
table that lists the quantity of a good all consumers in a market will buy at each different price
table that lists the quantity of a good all consumers in a market will buy at each different price
Market demand schedule
demand schedule
market schedule
Supply and Demand Schedule
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
when consumers react to an increase in a good’s prices by consuming less of that good and more of other goods
Substitution Effect
Income Effect
Star Wars Effect
Appeasement Effect
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
the change in consumption resulting from a change in real income
Substitution Effect
Income Effect
Star Wars Effect
Appeasement Effect
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
When elasticity of demand is unitary, the % change in quantity demanded is exactly equal to the % change in the price
When elasticity of demand is unitary, the % change in quantity demanded is exactly equal to the % change in the price
True
False
No Idea
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
total amount of money a firm receives by selling goods or services
total amount of money a firm receives by selling goods or services
Total Gross
Total revenue
Partial Revenue
Partial Gross
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