Chapter 6: Prices Review
Authored by Coach Morphew
History
12th Grade
Used 15+ times
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20 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
a simplified version of a complex concept or behavior expressed in the form of an equation, graph, figure, or diagram
economic model
equilibrium price
equilibrium quantity
price
price ceiling
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
price where quantity supplied equals quantity demanded
economic model
equilibrium price
equilibrium quantity
price
price ceiling
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
quantity of output supplied that is exactly equal to the quantity demanded
economic model
equilibrium price
equilibrium quantity
price
price ceiling
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
the monetary value of a product
economic model
equilibrium price
equilibrium quantity
price
price ceiling
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
the highest legal price that can be charged for a product
economic model
equilibrium price
equilibrium quantity
price
price ceiling
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
the lowest legal price that can be paid for a product
price floor
rationing
shortage
surplus
target price
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
system of allocating goods and services without prices
price floor
rationing
shortage
surplus
target price
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